The Berkeley-based company said it will explore developing a different path for trials for the treatment, called Tolamba.
It announced Jan. 8 that trials for the drug were inconclusive, sending shares of the company's stock that day down 30 percent to just below $6.
"It's not the death knell for the allergy program," said Shari Annes, a Dynavax spokeswoman. "It was an inconclusive trial, not a failed drug."
The prescription antihistamine Astelin(R) (azelastine HCl) Nasal Spray(R) relieved the major symptoms of pollen allergy, including sneezing, runny nose and congestion, within 15 minutes of application compared to placebo and maintained efficacy at all time points for 8 hours in a randomized, single dose, double-blind, placebo- controlled study, MedPointe Pharmaceuticals announced today.