Benzinga | Jul 14, 2020 11:28AM EDT

Why Dynavax's Stock Is Trading Higher Today

Dynavax Technologies (NASDAQ:DVAX) shares were trading higher on Tuesday after the company announced that the first participants were dosed with the company's coronavirus vaccine candidate the CpG 1018 Adjuvant in phase one clinical trial.

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. Its 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 3.64% at $8.82 at the time of publication on Tuesday. The stock has a 52-week high of $9.76 and a 52-week low of $1.80.