An investigation for investors in Dynavax Technologies Corporation (NASDAQ:DVAX) shares was announced and NASDAQ:DVAX stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 03/06/2013 -- An investigation on behalf of investors of Dynavax Technologies Corporation (NASDAQ:DVAX) shares over potential securities laws violations by Dynavax Technologies and certain of its directors and officers in connection certain financial statements was announced.
If you purchased shares of Dynavax Technologies Corporation (NASDAQ:DVAX), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Dynavax Technologies Corporation (NASDAQ:DVAX) concerning whether a series of statements by Dynavax Technologies regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Dynavax Technologies Corporation reported that its Total Revenue declined from $23.95 million in 2010 to $21.61 million in 2011 and that its Net Loss decreased from $57.31 million in 2010 to $48.60 million in 2011. For the first three quarters in 2012 Dynavax Technologies Corporation reported a combined nine months Total Revenue of $7.9 million with a combined nine months Net Loss of $49.40 million.
Shares of Dynavax Technologies Corporation (NASDAQ:DVAX) increased from $1.83 per share in October 2011 to as high as $5.15 per share in April, respectively $4.91 per shares in October 2012.
NASDAQ:DVAX shares closed 2012 at $2.74 per share.
Then on Feb. 25, 2013, Dynavax Technologies Corporation announced that it received a Complete Response Letter from the U.S. Food and Drug Administration (“FDA” or Agency) regarding its Biologic License Application for HEPLISAV, an investigational adult hepatitis B vaccine.
Among other things, the FDA specified in the complete response letter, that the indication in adults 18-70 years of age cannot be approved without further evaluation of safety in this broad age group.
Shares of Dynavax Technologies Corporation (NASDAQ:DVAX) declined from $3.118 per share on Feb. 22, 2013 to $1.87 per share on Feb. 25, 2013.
On March 5, 2013, NASDAQ:DVAX shares closed at $1.84 per share, which is substantially below its current 52 week high of $5.34 per share.
Those who purchased shares of Dynavax Technologies Corporation (NASDAQ:DVAX), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego