#United States #Dynavax Technologies #HEPLISAV-B #Emeryville, California #Deep Track

Dynavax Technologies Files Preliminary Proxy Statement

Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company recognized for its innovative vaccines, has recently submitted its preliminary proxy materials to the Securities and Exchange Commission (SEC) in advance of the upcoming 2025 Annual Meeting of Stockholders. This filing details the company's sustained operational and financial achievements along with its ongoing strategic direction.

The Board of Dynavax emphasized its commitment to enhancing shareholder value while navigating interactions with major stakeholders, including Deep Track. In the preliminary proxy statement, Dynavax disclosed a slate of four independent directors proposed for reelection, exemplifying its focus on strong governance to support its growing market presence.

Over recent years, Dynavax has achieved significant milestones, most notably with HEPLISAV-B, a vaccine for hepatitis B that has captured a leading position in the U.S. market. In 2024, the revenue from HEPLISAV-B hit an impressive $268 million, translating to an estimated 44% market share. Projections for 2025 suggest potential revenues could reach between $305 million and $325 million—an achievement anticipated to solidify Dynavax's reputation in the biopharmaceutical industry.

Continuing Growth and Engagement
Under the strategic oversight of its seasoned board, Dynavax has accomplished an astounding 300% stockholder return in the last five years, significantly outperforming key biotech indices. The success story is attributed to the company's innovative vaccine development and effective capital management strategies, including a $200 million share repurchase program aimed at rewarding its investors.

The company has proactively engaged with Deep Track since its investment began in 2022. While Deep Track initially supported Dynavax's trajectory, it has since transitioned to demand a sharper focus on HEPLISAV-B alone, urging a short-term profit strategy. This development raises concerns regarding the long-term value creation that Dynavax has been advocating.

In response to changing demands from Deep Track, Dynavax’s Board remains dedicated to forging an agreeable resolution while balancing the needs of all shareholders. The company has made notable attempts to address Deep Track’s concerns, including multiple negotiation attempts and the consideration of candidates proposed by Deep Track for board positions.

Dynavax's board has recently undergone significant renewal aimed at ensuring the right skillsets are present to facilitate continued innovation and market success, particularly in vaccine development and financial acumen. This is evidenced by the appointments of two new experienced directors, both of whom bring a wealth of experience in the relevant sectors.

Future Outlook
As the 2025 Annual Meeting approaches, Dynavax is optimistic about sharing more detailed information with its shareholders, reinforcing its commitment to transparency and constructive dialogue. The board's priorities remain rooted in long-term growth strategies that do not compromise on fundamental values.

With a diverse portfolio and a strategic approach to governance, Dynavax Technologies stands poised for a bright future in the biopharmaceutical sector, championing innovative solutions to infectious diseases while eager to maintain strong shareholder relationships and address any challenges head-on.

In the face of external pressures, the company’s leadership affirms that it will prioritize the interests of all stakeholders, ensuring that Dynavax’s growth trajectory reflects sustainable practices that reinforce its long-term vision. Amidst these dynamics, the partnership of financial advisors and legal counsel will support Dynavax through this pivotal period, promising an enhanced path forward for both the company and its dedicated investors.