Why Are Dynavax Technologies Shares Skyrocketing Today?

Clover Biopharmaceuticals has reported positive data for their COVID-19 vaccine candidate, SCB-2019, which achieved the primary and secondary efficacy endpoints in SPECTRA Phase 2/3 clinical trial.
The protein-based vaccine is adjuvanted with Dynavax Technologies Corporation's DVAX CpG 1018 adjuvant.
The study enrolled over 30,000 participants.
SCB-2019 (CpG 1018/Alum) demonstrated 100% efficacy against severe COVID-19 and hospitalizations.
84% efficacy was observed against moderate-to-severe COVID-19 caused by any strain of the virus.
SCB-2019 (CpG 1018/Alum) demonstrated 79% overall efficacy against COVID-19 of any severity caused by the Delta variant. Efficacy was 92% against the Gamma variant and 59% against the Mu variant.
Overall efficacy was 67% against COVID-19 of any severity caused by any strain in the study.
SCB-2019 (CpG 1018/Alum) demonstrated a favorable safety profile.
Clover plans to submit conditional approval applications to global regulatory authorities, including China's National Medical Products Administration, the European Medicines Agency, and WHO in Q4 of 2021.
Related Link: Valneva Shares Plunge As UK Terminates COVID-19 Vaccine Contract: What You Need to Know.
Price Action: DVAX stock is up 28.10% at $19.03 during the market session on the last check Wednesday.
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