Benzinga | Aug 3, 2020 03:53PM EDT

Why Dynavax's Stock Is Trading Higher Today

Dynavax Technologies (NASDAQ:DVAX) shares are trading higher on Monday after the company announced it will sell its SD-101 oncology program to TriSalus Life Sciences in a purchase agreement for up to $250 million in milestone payments plus royalties on future net sales.

Dynavax Technologies is a clinical-stage biopharmaceutical company. The company focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor stimulation. It's current product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.

Dynavax operates in the business segment the discovery and development of biopharmaceutical products. Its Toll-like Receptor Immune Modulation Platform technology play a vital role in innate immunity and subsequent adaptive immunity. Signaling through these receptors is triggered by the binding of a variety of pathogen-associated molecules and is essential to the generation of innate immunity.

Dynavax Technologies shares were trading up 9.56% to $8.88 at time of publication on Monday. The stock has a 52-week high of $12.44 and a 52-week low of $1.80.