MERRIMAN DOWNGRADES DYNAVAX TECHNOLOGIES TO NEUTRAL FROM BUY

Merriman analyst Brian McCarthy says Dynavax Technologies' (DVAX) Heplisav clinical program, partnered with Merck (MRK), has been placed on clinical hold due to occurrence of one serious adverse event (SAE) in Phase III trial.

McCarthy notes the subject was preliminarily diagnosed with Wegener's granulomatosis, an inflammation of blood vessel walls; DVAV and MRK expected to investigate whether the subject had pre-existing condition and if vaccination contributed to SAE.

He says he recommends investors hold DVAX pending clarity on cause of SAE. He still sees $1.44 2008 loss per share, and $1.41 2009 loss.

Stocks Set to Climb ahead of Fed Decision

The Fed is expected to come through with another jumbo rate cut Tuesday. Traders also eyed better than expected earnings from Goldman and Lehman

Movers: Goldman Sachs, Lehman Brothers, Yahoo, Dynavax

Stocks on the move on Tuesday

Stocks: A Place Called Vertigo

With the Bear Stearns collapse, equities' age of anxiety just got an extra jolt of caffeine. Should individual investors give up on stocks?

Is Lehman Liquid Enough?

The firm's heavy subprime exposure and minimal writedowns to this point have investors nervous. But defenders say it's no Bear Stearns

A Full Point for Bernanke & Co.?

How much will the central bank cut rates at its Mar. 18 meeting? Here's a roundup of what some Wall Street economists and strategists expect