38% of staff laid off as Dynavax focuses on immuno-oncology

6 January 2017

Immunotherapy specialists Dynavax Technologies (Nasdaq: DVAX) has announced a restructuring effort aimed at cutting costs and focussing on the company’s immuno-oncology portfolio.

As US Food and Drug Administration approval for its investigational hepatitis B vaccine Heplisav-B remains elusive, shares in the US-based biopharmaceutical firm have hemorrhaged value.

While the company was valued at $29.70 per share a year ago, a steady decline throughout 2016 culminated in a precipitous nearly two-thirds drop to $4.10 in November, following receipt of the FDA’s complete response letter regarding the company’s New Drug Application for Heplisav-B.

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