Dynavax's allergy drug shows promise

Shares of Dynavax Technologies surged in overnight trading after the company announced positive data for its experimental therapy for ragweed allergies. A two-year, mid-stage trial of Tolamba resulted in a statistically significant improvement in symptoms among 462 patients. Researchers said a single course of the drug for the 2004 season was effective and that patients didn't need a booster shot the following year to continue to experience a positive response to the drug. Dynavax says it plans to start a pivotal trial later this year.

- see this AP article for more