Why DBV Technologies Stock Is Plunging Today

Why DBV Technologies Stock Is Plunging Today

Shares of DBV Technologies (NASDAQ: DBVT) were down a whopping 41.6% as of 11:41 a.m. EDT on Tuesday. The catalyst for this sell-off was the company's announcement that it has received a complete response letter from the Food and Drug Administration regarding its Biologics License Application (BLA) for Viaskin, a potential treatment for peanut allergy. DBV Technologies complied with this request, but it seems it wasn't enough to please the FDA.