Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Dynavax Technologies Corporation

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of Dynavax Technologies Corporation (“Dynavax” or the “Company”) (NASDAQ:DVAX) between April 26, 2012 and June 10, 2013 (the “Class Period”).

Dynavax, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious and inflammatory diseases. The Complaint alleges that defendants issued materially false and misleading statements throughout the Class Period regarding Dynavax’s biologic license application for Heplisav, an investigational adult hepatitis B vaccine.

On June 10, 2013 Dynavax disclosed that in a meeting with the Food and Drug Administration (“FDA”) over the Company’s license application for Heplisav, the FDA expressed that it wanted additional safety data from more patients before approving the drug. The FDA further expressed that analyzing Heplisav for smaller groups of patients did not fully address its concerns and that it would like to see additional safety trials. Moreover, as previously noted by the FDA, there are also ongoing concerns regarding Dynavax’s manufacturing and testing of Heplisav. On this news, shares of Dynavax declined $1.07 per share, or 43.32%, to close on June 10, 2013, at $1.40 per share, on unusually heavy volume.

No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Dynavax stock during the Class Period, you have certain rights, and have until August 19, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or if you purchased Dynavax stock prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.