Stock Alert: DBV Down 53% After FDA 'Questions' Viaskin Peanut's Efficacy

(RTTNews) - Shares of DBV Technologies (DBVT) tanked over 53% on Tuesday morning after the company announced that the FDA, during its review of its marketing application for Viaskin Peanut, has identified "questions" about efficacy.

The stock is currently trading at $2.4429, down $2.8171 or 53.557%, on a volume of 1.2 million shares, far above its three-month average volume of half million shares.

DBV Technologies, a clinical-stage biopharmaceutical company, Monday said the FDA has informed that during its ongoing review of the Biologics License Application for investigational Viaskin Peanut, that it has identified questions regarding efficacy, including the impact of patch-site adhesion.

Therefore, the Allergenic Products Advisory Committee meeting to discuss the BLA will no longer take place as previously scheduled on May 15, 2020.

Viaskin Peanut is a once-daily patch for the skin designed to potentially reduce the risk of life-threatening allergic reactions due to accidental exposure to peanuts in children aged 4-11.