Quick Win By The Algorithm: DVAX Reaching New Heights
Quick Win By The Algorithm
On July 2, 2017 I Know First algorithm had predicted a bullish forecast for Dynavax Technologies Corporation (DVAX). DVAX had a signal of 64.61 and a predictability of 0.36. Therefore, in accordance with the Quick Win By the Algorithm, the company reported gain of 66.32% in just 1 month.
Dynavax Technologies Corp. (DVAX) is a clinical-stage biopharmaceutical company that discovering and developing novel vaccines and therapeutics. The company’s development programs are organized under three areas: vaccine adjuvants, cancer immunotherapy, and autoimmune and inflammatory diseases.
In July, a Food and Drug Administration advisory committee vote in favor of Dynavax Technologies Corporation’s (NASDAQ:DVAX) experimental hepatitis B vaccine. Previous concerns about vaccine safety had been pressuring the stock. The approval is not guaranteed, but the possibility is enough to skyrocket the stock towards the end of June 2017.
Shares of Dynavax Technologies lifted 71% after the biotech company’s stock started trading again. The previous week, Dynavax received a favorable ruling from an advisory panel at the FDA. Some investors had been nervous about the prospects for a favourable recommendation for Heplisav, due largely to some adverse safety issues that came up in the data that the advisory panel reviewed last Friday.
Yet those concerns apparently weren’t important enough to outweigh the potential benefits of the vaccine. And the vote in favour of recommending approval sends Heplisav-B to the full FDA for consideration. Investors are now optimistic that the vaccine will succeed through the vote.
Furthermore, the FDA is going to issue a decision no later than Aug. 10. Hence, the agency tends to follow the positive guidance provided by independent advisory committees.
If approved, safety concerns will hound Heplisav-B’s commercial launch, but it would have a big advantage over the competition. A huge number of people never come back for their last dose of currently available treatments. Usually six months after the first. Dynavax’s vaccine schedule takes just four weeks to administer, which has most analysts predicting peak annual sales of about $700-800 million.
Since I Know First analyst, Zach Shipman published a bullish article on July 2, 2017, the stock has increased over 80%.
This bullish forecast on DVAX was sent to current I Know First subscribers on July 2, 2017.
Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.
