Dynavax (DVAX) stocks rose 26% following the publication of a study showing that its investigational vaccine against ragweed allergies effectively reduced allergic responses.
TOLAMBA, consisting of a TLR9 agonist linked to a specific ragweed allergen, required only 6 injections, and confered allergy relief lasting for more than two peak ragweed seasons i.e., over 12 months.
TOLAMBA consists of 1018 ISS, a TLR9 agonist, linked to the purified major allergen of ragweed, called Amb a 1. The linking of ISS to Amb a 1 ensures that both ISS and ragweed allergen are presented simultaneously to the same immune cells, producing a highly specific and potent effect suppressing the Th2 cells responsible for inflammation associated with ragweed allergy.
Moreover, this treatment reprograms the immune response away from the Th2 response and toward a Th1 memory response so that, upon subsequent natural exposure to the ragweed allergen, long-term protection is achieved.
The results have been published in the New England Journal of Medicine. The vaccine is currently being evaluated in late-stage clinical trials for the treatment of allergic rhinitis.
See related report from the Allergizer.
Almost simultaneously, Dynavax has announced common stock offering of 6,200,000 shares of its common stock at $4.40 per share for approximately $27 million in gross proceeds.
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