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Dynavax Sinks 32% As FDA Cancels Its AdComm Meeting

On Friday, shares of Dynavax Technologies (DVAX) tumbled by 32% after the FDA announced that it had cancelled the advisory committee meeting scheduled for November. The ad comm was supposed to review Dynavax's drug for Hepatitis B, known as Hepislav, in November for the FDA. The decision on whether or not to approve the drug would have come one month later in December.

What really feels odd is that neither the company nor the FDA gave an adequate reason to why the ad comm meeting was cancelled. The only thing that the FDA has cited is that it needs more time to "review and resolve several outstanding issues."...