What happened
Although optimists currently believe we're getting past the worst of the coronavirus pandemic, Dynavax Technologies (DVAX -1.27%) shares saw a lift Monday on positive vaccine news. A popular coronavirus stock in the worst days of the outbreak, an important business partner of the company had some good regulatory news to impart. Dynavax investors took this to heart by pushing their company's stock up by nearly 2.3% on the day, while the S&P 500 index sank by 0.4%.
So what
On Monday, France-based vaccine specialist Valneva (VALN -0.12%) announced that its VLA2001 coronavirus jab had been granted Emergency Use Authorization (EUA) by the United Arab Emirates' Ministry of Health and Prevention. That green light from the wealthy Middle Eastern nation follows the vaccine's conditional marketing authorization in the U.K. and an EUA from the nearby Persian Gulf state of Bahrain.
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In contrast to the popular mRNA-based shots made by Moderna and the partnership of Pfizer and BioNTech, VLA2001 utilizes an inactive form of the coronavirus to provide its protection. A key ingredient of VLA2001 is Dynavax's CpG 1018 adjuvant (a substance used to help stimulate an immune response from a vaccine), hence the positive investor reaction.
Now what
Valneva frequently points out that its Dynavax-enhanced vaccine is unique in being the single inactivated, whole virus, adjuvanted coronavirus vaccine in development in Europe. In the French company's press release touting the UAE EUA, it quoted its CEO Thomas Lingelbach as saying that the country's authorization "could offer an alternative vaccine solution to people across the Emirates."
