Dynavax Secures Licensing Deal for Vaxart's Oral COVID-19 Vaccine Initiative
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2025
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Collaboration Agreement: Dynavax Technologies and Vaxart have entered into an exclusive worldwide license and collaboration agreement for Vaxart's investigational oral COVID-19 vaccine candidate, which features a novel delivery method.
Vaccine Mechanism and Benefits: The oral vaccine aims to induce mucosal immunity, potentially reducing infection and transmission, while improving patient acceptance and simplifying distribution without cold chain requirements.
Financial Terms: Dynavax will pay Vaxart an upfront license fee of $25 million and make a $5 million equity investment, gaining exclusive rights to develop and commercialize the oral COVID-19 vaccine.
Clinical Development Responsibilities: Vaxart will manage the oral vaccine program through the ongoing Phase 2b clinical trial, after which Dynavax can choose to take over future development, with additional payments contingent on this decision.
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Analyst Views on DVAX
Wall Street analysts forecast DVAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DVAX is 20.50 USD with a low forecast of 16.00 USD and a high forecast of 25.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 15.480
Low
16.00
Averages
20.50
High
25.00
Current: 15.480
Low
16.00
Averages
20.50
High
25.00
About DVAX
Dynavax Technologies Corporation is a commercial-stage biopharmaceutical company developing and commercializing vaccines to help protect against infectious diseases. The Company has two commercial products: HEPLISAV-B vaccine (Hepatitis B Vaccine (Recombinant), Adjuvanted), and CpG 1018 adjuvant. The HEPLISAV-B vaccine is used for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older. HEPLISAV-B is a two-dose in-one-month adult hepatitis B vaccine. CpG 1018 adjuvant is used in HEPLISAV-B and multiple adjuvanted COVID-19 vaccines. The Company is advancing a pipeline of differentiated product candidates that leverage its CpG 1018 adjuvant to develop improved vaccines in indications with unmet medical needs. Its pipeline programs include Shingles vaccine program (Z-1018) and Plague vaccine program. Z-1018 is an investigational vaccine candidate being developed for the prevention of shingles in adults aged 50 and older.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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