Dynavax ragweed data fuels big share jump

Shares of Dynavax took off this morning after the developer announced new data demonstrating the effectiveness of its experimental therapy for ragweed allergies. Ragweed allergy sufferers were given the therapy--AIC--for six weeks and typically experienced a reduction in symptoms for 12 months. Dynavax shares jumped 26 percent. "The demonstrated therapeutic properties and safety pave the way for a therapeutic intervention that is qualitatively superior to standard immunotherapy," said Dr. Peter Creticos, lead researcher in the trial and a physician at Johns Hopkins.

- read the report from TheStreet