Dy­navax takes a big step to­ward an OK for hep B vac­cine, but nag­ging safe­ty is­sues re­main

Will the third time prove the charm for Dy­navax?

More than a few an­a­lysts are still ask­ing that ques­tion af­ter a pan­el of out­side ex­perts formed by the FDA of­fered a lop­sided vote in fa­vor of an ap­proval — with three ab­sten­tions for its hep B vac­cine Hep­lisav and on­ly one op­posed for safe­ty rea­sons.

Ef­fi­ca­cy was nev­er re­al­ly in doubt. The da­ta are sol­id. But there was plen­ty of fret­ting about Hep­lisav’s safe­ty pro­file, af­ter reg­u­la­tors spot­light­ed an im­bal­ance of deaths and car­diac events which has nev­er been ex­plained. The in­ter­nal FDA re­view last Wednes­day forced the stock $DVAX down 10%, but it rock­et­ed up 80% Fri­day evening af­ter the ex­perts weighed in on ways that the biotech could keep a care­ful eye on the health of the peo­ple tak­ing their vac­cine.

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