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Article: Dynavax Falls On Phase III Tolamba Trial For Ragweed.
- Article from:
- BIOWORLD Today
- Article date:
- January 9, 2007
- Author:
CopyrightCOPYRIGHT 2007 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Karen Pihl-Carey, Senior Staff Writer
Dynavax Inc. lost a quarter of its value on Monday after reporting that the efficacy of its ragweed allergy drug could not be evaluated in a Phase III trial.
The stock (NASDAQ:DVAX) plunged 30.2 percent, or $2.58, to end the day at $5.96.
Interim one-year data from the two-year study called DARTT (Dynavax Allergic Rhinitis Tolamba Trial) showed no meaningful ragweed-specific allergic disease in any of the treatment or placebo groups, making it impossible for Dynavax to measure Tolamba's treatment effect.
"This does not at all say that the drug failed," said Deborah Smeltzer, Dynavax's vice ...