Dynavax Technologies Corporation (NASDAQ: DVAX ) is expected to face the FDA firing squad on or before Feb. 24 for its hepatitis-B vaccine, Hepislav. Dynavax shares were massacred shortly after the FDA panel released its findings on Hepislav, not because of the data — panel members voted 13-1 in favor of recommending the drug based on efficacy — but because of an 8-5 vote, with one abstention, that there wasn't enough safety data available to determine that the drug was safe, given a few cases where Hepislav caused rare autoimmune diseases. Although the FDA is under no obligation to side with the panel, it often serves as a good indicator of what to expect. I'd be shocked with an FDA approval next week, but I do expect that, at some point over the next 12-18 months, Dynavax will gain approval for Hepislav.