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Reuters
2 days ago
- Business
- Reuters
Dynavax elects all four of its nominees after Deep Track proxy fight
June 11 (Reuters) - Biopharmaceutical company Dynavax Technologies (DVAX.O), opens new tab on Wednesday defeated investment firm Deep Track Capital's effort to unseat directors when investors re-elected all four candidates, the company said. Deep Track, Dynavax's second-largest shareholder with a nearly 15% stake, mounted a proxy fight to elect new directors who would prioritize development of the company's hepatitis B vaccine, Heplisav, instead of pursuing new acquisitions. The investment firm wanted Dynavax to focus exclusively on growing Heplisav into an asset that a large pharma company would want to own. Deep Track nominated one of its executives and three people with industry expertise as candidates to replace the four directors who are standing for the election this year. Dynavax's stockholders voted to elect Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun to the company's board. The company said preliminary results of the vote indicate that stockholders have approved all other proposals recommended by the board, which include new bylaws which ensure all directors stand for election every year. Emeryville, California-based Dynavax's shares fell 1% in early trading. The stock has fallen nearly 20% this year and is currently at a market capitalization of $1.25 billion, according to LSEG data.
Yahoo
2 days ago
- Business
- Yahoo
Dynavax Stockholders Elect All Dynavax Director Nominees at 2025 Annual Meeting
EMERYVILLE, Calif., June 11, 2025 /PRNewswire/ -- Dynavax Technologies Corporation (Nasdaq: DVAX) ("Dynavax" or the "Company"), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today announced that, based on the preliminary vote count provided by its proxy solicitor following the Company's 2025 Annual Meeting of Stockholders ("Annual Meeting"), Dynavax stockholders have voted to elect all four of its director nominees – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – to the Company's Board of Directors. Dynavax issued the following statement: Dynavax appreciates the support and perspectives we have received from our stockholders throughout this process. The outcome of today's meeting is validation of our balanced strategic plan and recognition of the entire Dynavax team. The Board and management team will remain focused on continuing to execute our strategy and deliver significant long-term value to all Dynavax stockholders. The preliminary results, which have not yet been certified, also indicate that stockholders have approved all other proposals recommended by Dynavax's Board of Directors, including the phased declassification of the Board. The results announced today are considered preliminary until final results are tabulated and certified by the independent Inspector of Elections. Dynavax expects to file the final voting results, as tabulated by the independent Inspector of Elections, on a Form 8-K with the U.S. Securities and Exchange Commission. Advisors Goldman Sachs & Co. LLC is serving as financial advisor to Dynavax and Cooley LLP is serving as legal counsel. About Dynavax Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B® vaccine (Hepatitis B Vaccine (Recombinant), Adjuvanted), which is approved in the U.S., the European Union and the United Kingdom for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older, and CpG 1018® adjuvant, currently used in HEPLISAV-B and multiple adjuvanted COVID-19 vaccines. For more information about our marketed products and development pipeline, visit Forward-Looking Statements This communication contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements. Forward-looking statements can generally be identified by the use of words such as "continue," "expect," "will," "plan," "would" and similar expressions, or the negatives thereof, or they may use future dates. Forward-looking statements made in this document include expectations regarding delivering value for our stockholders and our business strategy and long-term performance. Actual results may differ materially from those set forth in this communication due to the risks and uncertainties inherent in our business, including, risks relating to our ability to commercialize and supply HEPLISAV-B, the risks that market size or actual demand for our products may differ from our expectations, risks related to the timing of completion and results of current clinical studies, risks related to the development and pre-clinical and clinical testing of vaccines containing CpG 1018 adjuvant, and risks related to the implementation of our long-term growth objectives, as well as other risks detailed in the "Risk Factors" section of our Quarterly Report on Form 10-Q for the three months ended March 31, 2025 and any periodic filings made thereafter, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof, are qualified in their entirety by this cautionary statement and we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax's website at is not incorporated by reference in our current periodic reports with the SEC. For Investors:Paul Coxpcox@ For Media:Dan Moore / Tali EpsteinDynavax-CS@ View original content to download multimedia: SOURCE Dynavax Technologies
Associated Press
4 days ago
- Business
- Associated Press
Dynavax Urges Stockholders to Support Its Director Nominees at June 11 Annual Meeting
Dynavax's Strategy is Delivering Significant Long-Term Stockholder Value Dynavax's Nominees Are Vastly Superior to Deep Track's Candidates Across Every Critical Area Follow Recommendations of Proxy Advisory Firms ISS and Egan-Jones and Vote 'FOR' All Four of Dynavax's Director Nominees on the GOLD Proxy Card Today EMERYVILLE, Calif., June 9, 2025 /PRNewswire/ -- Dynavax Technologies Corporation (Nasdaq: DVAX) ('Dynavax' or the 'Company'), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today issued the following statement reiterating to stockholders its recommendation to vote 'FOR' all four of Dynavax's highly qualified directors standing for election – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – at the Company's upcoming Annual Meeting of Stockholders on June 11, 2025 (the '2025 Annual Meeting'). Since 2019, Dynavax has successfully executed a strategic repositioning of our business, and our refreshed Board is executing a plan that is delivering significant stockholder value. In direct contrast, Deep Track – which has no experience developing and executing corporate strategy, operations, or finance – is insistent on implementing its strip-mining plan for Dynavax, jeopardizing a strong platform with significant long-term growth opportunities for a near-term payoff of a considerably lower value. Simply put: there is no case for change, and changing course to Deep Track's purported plan will destroy long-term value and is not in the best interests of all stockholders. Re-electing all four of our nominees is essential to our ability to continue driving value for all stockholders. Without Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun, the Board would be deprived of essential strategic leadership, vaccine expertise, senior public biotechnology and M&A experience, as well as deep industry financial expertise – qualifications that none of Deep Track's candidates can adequately match. Deep Track's principal, Brett Erkman, is beholden to his own hedge fund investors – not our stockholders – and has demonstrated an inability to be open-minded. Donald Santel lacks vaccine industry experience and his public company executive experience ended ten years ago. In short, Deep Track's nominees are far less qualified than all of our current directors. Make no mistake – Deep Track is attempting to gain control of Dynavax to implement its flawed plan, which would be detrimental to the long-term value we are generating for our stockholders. Independent proxy advisory firms Institutional Shareholder Services ('ISS') and Egan-Jones agree and recommend that stockholders support all of Dynavax's director nominees. ISS noted that Deep Track has failed to present a compelling case for change and called attention to Deep Track's cherry picked and highly misleading materials throughout its campaign – 'There are serious concerns with the dissident's presentation of TSR…The dissident's attempt to suggest otherwise through a blatantly distorted TSR analysis has only diminished its credibility."1 Glass, Lewis & Co. ('Glass Lewis') acknowledged the significant stockholder returns we have been generating, our differentiated capital allocation plan, and the meaningful refreshment and high caliber Board we have in place. Perhaps most importantly, Glass Lewis put a fine point on the legitimate concerns stockholders should have in electing Mr. Erkman to the Board – noting that 'his fiduciary experience in a boardroom setting remains untested' and 'may raise legitimate questions about Mr. Erkman's ability to balance Deep Track's position with the broader interests of all shareholders."2 Here's why we encourage you to vote for ALL four of Dynavax's nominees: With our 2025 Annual Meeting fast approaching on June 11, it is extremely important that you vote as soon as possible, no matter how many shares you own. We urge you to vote 'FOR' all four of Dynavax's director nominees – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – on the GOLD proxy card today. Dynavax stockholders who need assistance in voting their shares may call the Company's proxy solicitor, MacKenzie Partners, at 1-800-322-2885. Advisors Goldman Sachs & Co. LLC is serving as financial advisor to Dynavax and Cooley LLP is serving as legal counsel. About Dynavax Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B® vaccine (Hepatitis B Vaccine (Recombinant), Adjuvanted), which is approved in the U.S., the European Union and the United Kingdom for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older, and CpG 1018® adjuvant, currently used in HEPLISAV-B and multiple adjuvanted COVID-19 vaccines. For more information about our marketed products and development pipeline, visit Forward-Looking Statements This communication contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements. Forward-looking statements can generally be identified by the use of words such as 'continue,' 'expect,' 'will,' 'plan,' 'would,' and similar expressions, or the negatives thereof, or they may use future dates. Forward-looking statements made in this document include statements regarding expected contributions from our current directors, expectations regarding delivering value for our stockholders, market share and size of the market, our business strategy and long-term performance. Actual results may differ materially from those set forth in this communication due to the risks and uncertainties inherent in our business, including, the risk that circumstances surrounding or leading up to our 2025 Annual Meeting may change, risks relating to our ability to commercialize and supply HEPLISAV-B, the risks that market size or actual demand for our products may differ from our expectations, risks related to the timing of completion and results of current clinical studies, risks related to the development and pre-clinical and clinical testing of vaccines containing CpG 1018 adjuvant, and risks related to the implementation of our long-term growth objectives, as well as other risks detailed in the 'Risk Factors' section of our Quarterly Report on Form 10-Q for the three months ended March 31, 2025 and any periodic filings made thereafter, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof, are qualified in their entirety by this cautionary statement and we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax's website at is not incorporated by reference in our current periodic reports with the SEC. Important Additional Information and Where to Find It On April 17, 2025, the Company filed a definitive proxy statement on Schedule 14A (the 'Proxy Statement') and form of accompanying GOLD proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its 2025 Annual Meeting and its solicitation of proxies for the Company's director nominees and for other matters to be voted on. The Company may also file other relevant documents with the SEC regarding its solicitation of proxies for the 2025 Annual Meeting. This communication is not a substitute for any proxy statement or other document that the Company has filed or may file with the SEC in connection with any solicitation by the Company. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, ACCOMPANYING GOLD PROXY CARD AND OTHER RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a copy of the Proxy Statement, accompanying GOLD proxy card, any amendments or supplements to the Proxy Statement and any other relevant documents filed by the Company with the SEC at no charge at the SEC's website at Copies will also be available at no charge at the Company's website at Certain Information Regarding Participants This communication is neither a solicitation of a proxy or consent nor a substitute for any proxy statement or other filings that may be made with the SEC. The Company, its directors, its director nominees and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies for the 2025 Annual Meeting. Information regarding the names of such persons and their respective direct or indirect interests in the Company, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 17, 2025, including in the sections captioned 'Compensation Discussion and Analysis,' 'Summary Compensation Table,' 'Grants of Plan Based Awards,' 'Outstanding Equity Awards at Fiscal Year End,' 'Pay Ratio Disclosure,' 'Director Compensation,' 'Certain Transactions,' 'Security Ownership of Certain Beneficial Owners and Management,' and 'Supplemental Information Regarding Participants in the Solicitation.' To the extent that the Company's directors and executive officers have acquired or disposed of securities holdings since the applicable 'as of' date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These documents are or will be available free of charge at the SEC's website at For Investors: Paul Cox [email protected] 510-665-0499 Or MacKenzie Partners, Inc. Bob Marese / John Bryan Toll-Free: 1-800-322-2885 [email protected] For Media: Dan Moore / Tali Epstein [email protected] 1 Source: ISS report dated May 23, 2025. Permission to use quotes neither sought nor obtained. 2 Source: Glass Lewis report dated June 3, 2025. Permission to use quotes neither sought nor obtained. 3 As of April 17, 2025, the date Dynavax filed its definitive proxy. View original content to download multimedia: SOURCE Dynavax Technologies
Associated Press
12-05-2025
- Business
- Associated Press
Dynavax Files Investor Presentation Highlighting Superior Strategy and Board That is Delivering Strong Financial Results and Significant Long-Term Value
Presentation Underscores Deep Track's Value Destructive Plan and Inferior Slate of Director Nominees Urges Stockholders to Vote 'FOR' All Four Dynavax Director Nominees on the GOLD Proxy Card Today EMERYVILLE, Calif., May 12, 2025 /PRNewswire/ -- Dynavax Technologies Corporation (Nasdaq: DVAX) ('Dynavax' or the 'Company'), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today announced that it has filed an investor presentation with the Securities and Exchange Commission ('SEC') in connection with its 2025 Annual Meeting of Stockholders to be held on June 11, 2025. Stockholders of record as of April 14, 2025, will be entitled to vote at the meeting. Highlights of the presentation include: The Dynavax Board of Directors is committed to acting in the best interests of all stockholders and unanimously recommends that stockholders vote 'FOR' all four of Dynavax's director nominees standing for election – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – on the GOLD proxy card today. Advisors Goldman Sachs & Co. LLC is serving as financial advisor to Dynavax and Cooley LLP is serving as legal counsel. About Dynavax Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B® vaccine (Hepatitis B Vaccine (Recombinant), Adjuvanted), which is approved in the U.S., the European Union and the United Kingdom for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older, and CpG 1018® adjuvant, currently used in HEPLISAV-B and multiple adjuvanted COVID-19 vaccines. For more information about our marketed products and development pipeline, visit Forward-Looking Statements This communication contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements. Forward-looking statements can generally be identified by the use of words such as 'continue,' 'expect,' 'will,' 'plan,' 'would' and similar expressions, or the negatives thereof, or they may use future dates. Forward-looking statements made in this document include statements regarding expected contributions from our current directors, expectations regarding delivering value for our stockholders, market share and size of the market, our business strategy and long-term performance. Actual results may differ materially from those set forth in this communication due to the risks and uncertainties inherent in our business, including, the risk that circumstances surrounding or leading up to our 2025 Annual Meeting may change, risks relating to our ability to commercialize and supply HEPLISAV-B, the risks that market size or actual demand for our products may differ from our expectations, risks related to the timing of completion and results of current clinical studies, risks related to the development and pre-clinical and clinical testing of vaccines containing CpG 1018 adjuvant, and risks related to the implementation of our long-term growth objectives, as well as other risks detailed in the 'Risk Factors' section of our Quarterly Report on Form 10-Q for the three months ended March 31, 2025 and any periodic filings made thereafter, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof, are qualified in their entirety by this cautionary statement and we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax's website at is not incorporated by reference in our current periodic reports with the SEC. Important Additional Information and Where to Find It On April 17, 2025, the Company filed a definitive proxy statement on Schedule 14A (the 'Proxy Statement') and form of accompanying GOLD proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its 2025 Annual Meeting and its solicitation of proxies for the Company's director nominees and for other matters to be voted on. The Company may also file other relevant documents with the SEC regarding its solicitation of proxies for the 2025 Annual Meeting. This communication is not a substitute for any proxy statement or other document that the Company has filed or may file with the SEC in connection with any solicitation by the Company. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, ACCOMPANYING GOLD PROXY CARD AND OTHER RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a copy of the Proxy Statement, accompanying GOLD proxy card, any amendments or supplements to the Proxy Statement and any other relevant documents filed by the Company with the SEC at no charge at the SEC's website at Copies will also be available at no charge at the Company's website at Certain Information Regarding Participants This communication is neither a solicitation of a proxy or consent nor a substitute for any proxy statement or other filings that may be made with the SEC. The Company, its directors, its director nominees and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies for the 2025 Annual Meeting. Information regarding the names of such persons and their respective direct or indirect interests in the Company, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 17, 2025, including in the sections captioned 'Compensation Discussion and Analysis,' 'Summary Compensation Table,' 'Grants of Plan Based Awards,' 'Outstanding Equity Awards at Fiscal Year End,' 'Pay Ratio Disclosure,' 'Director Compensation,' 'Certain Transactions,' 'Security Ownership of Certain Beneficial Owners and Management,' and 'Supplemental Information Regarding Participants in the Solicitation.' To the extent that the Company's directors and executive officers have acquired or disposed of securities holdings since the applicable 'as of' date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These documents are or will be available free of charge at the SEC's website at For Investors: Paul Cox [email protected] 510-665-0499 Or MacKenzie Partners, Inc. Bob Marese / John Bryan Toll-Free: 1-800-322-2885 [email protected] For Media: Dan Moore / Tali Epstein [email protected] ____________________________ 1 Use of capital from 2020 to present, excluding CapEx and SG&A expense; reflects full execution of the $200 million share repurchase program. View original content to download multimedia: SOURCE Dynavax Technologies
Associated Press
29-04-2025
- Business
- Associated Press
Dynavax Highlights Superior Board Leadership Overseeing Long-Term Value Creation Strategy
Mails Letter to Stockholders Urging Stockholders to Vote 'FOR' All Four Dynavax Director Nominees on the GOLD Proxy Card EMERYVILLE, Calif., April 29, 2025 /PRNewswire/ -- Dynavax Technologies Corporation (Nasdaq: DVAX) ('Dynavax' or the 'Company'), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today mailed a letter to its stockholders in connection with its 2025 Annual Meeting of Stockholders ('Annual Meeting') urging stockholders to vote the GOLD proxy card 'FOR' all four of Dynavax's highly qualified directors standing for election – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun. The Annual Meeting will be held on June 11, 2025, and Dynavax stockholders of record as of April 14, 2025, will be entitled to vote at the Annual Meeting. The full text of the letter being mailed to stockholders follows: Dear Fellow Stockholder, At this year's Annual Meeting, Deep Track Capital is seeking to replace four of our independent directors, including our Chairman, with inferior nominees that would implement Deep Track's value destructive plan — change that is not only unnecessary but would also impede the Company's sustained momentum and risk the long-term value of your investment. The Dynavax Board of Directors has been meaningfully refreshed in recent years with qualified directors who have enhanced the Company's corporate governance while overseeing consistent and record financial and operational performance. Dynavax is in the strongest position it has ever been in, and our Board's nominees – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – are essential to advancing Dynavax's strategy and driving long-term stockholder value at this pivotal juncture for the Company. We urge you to vote 'FOR' Dynavax's four director nominees on the GOLD universal proxy card today. Only four directors can be elected at the Annual Meeting. DYNAVAX'S BOARD HAS ALREADY THOUGHTFULLY REFRESHED WITH EXPERTS WHO KNOW HOW TO DRIVE LONG-TERM STOCKHOLDER VALUE IN OUR INDUSTRY Our Board refreshment process has always been driven by a clear set of criteria based on Dynavax's current and future needs. Since Dynavax underwent a wholesale transformation starting in 2019 to prioritize its vaccine business and launch HEPLISAV-B®, we have thoughtfully reshaped our Board with new, independent directors who bring highly specialized skillsets that are directly aligned to our long-term strategic plan. As a result of our refreshment efforts, following the Annual Meeting, the Board will be comprised of nine directors, with six of our eight independent directors having been appointed since 2020. This refreshed Board has been the architect of the successful plan we currently have in place and remains crucial to our continued execution. Our Board checks every box: Since Dynavax's pivot, our Board has overseen a disciplined strategy that is generating superior value: DYNAVAX'S NOMINEES ARE CLEARLY AND SUBSTANTIALLY MORE QUALIFIED THAN DEEP TRACK'S CANDIDATES TO OVERSEE THE EXECUTION OF A STRATEGY THAT IS WORKING Each of our four nominees is essential to our Board and replacing any of them would leave Dynavax deficient in vital expertise that is needed to guide the Company through a pivotal year. Our nominees have expertise across every facet of the biotechnology and vaccine space and have led multiple company transactions generating billions of dollars and maximizing stockholder value. The contrast between the qualifications of the Dynavax slate versus Deep Track's slate is striking: In sharp contrast, Deep Track's candidates lack the decades of public company biotechnology and vaccine operational and financial acumen that Dynavax's directors bring and have little to no public company board experience – in fact, only one of Deep Track's four candidates has ever served on a U.S. public company board of directors. In aggregate, Deep Track's candidates bring no additive or differentiated skills to our current Board. DEEP TRACK IS DEMANDING UNREASONABLE AND UNNECESSARY CHANGE THAT WOULD DESTROY THE VALUE OF YOUR INVESTMENT Deep Track's flawed plan, which favors a near-term payoff at a considerably lower value, puts its own short-term interests above those of all other stockholders and would be detrimental to the long-term value our Board is generating. Deep Track is demanding that Dynavax: Moreover, aside from demanding these short-sighted initiatives, Deep Track has yet to provide any actionable ideas on how to grow HEPLISAV-B®, a core pillar of its own plan, which our Board and management team are already doing with great success. YOUR VOTE IS IMPORTANT – HELP ENSURE DYNAVAX'S CONTINUED MOMENTUM We do not believe the changes to the Board proposed by Deep Track are warranted or in the best interests of all stockholders. The current Dynavax Board is best equipped to guide the Company's strategy, with the expertise necessary to successfully drive enhanced stockholder value. Thank you for your support, The Dynavax Board of Directors Advisors Goldman Sachs & Co. LLC is serving as financial advisor to Dynavax and Cooley LLP is serving as legal counsel. About Dynavax Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B® vaccine (Hepatitis B Vaccine (Recombinant), Adjuvanted), which is approved in the U.S., the European Union and the United Kingdom for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older, and CpG 1018® adjuvant, currently used in HEPLISAV-B and multiple adjuvanted COVID-19 vaccines. For more information about our marketed products and development pipeline, visit Forward-Looking Statements This communication contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements. Forward-looking statements can generally be identified by the use of words such as 'anticipate,' 'believe,' 'continue,' 'expect,' 'will,' 'may,' 'plan,' 'potential,' 'seek,' 'would' and similar expressions, or the negatives thereof, or they may use future dates. Forward-looking statements made in this document include statements regarding expected contributions from newly appointed directors, expectations regarding delivering value for our stockholders, our future growth, potential of our differentiated technology, timing of clinical trials and expected results, market share and size of the market, expected product revenue, our business strategy and long-term performance. Actual results may differ materially from those set forth in this communication due to the risks and uncertainties inherent in our business, including, the risk that circumstances surrounding or leading up to our 2025 Annual Meeting may change, risks relating to our ability to commercialize and supply HEPLISAV-B, and risks related to the implementation of our long-term growth objectives, as well as other risks detailed in the 'Risk Factors' section of our Annual Report on Form 10-K for the financial year ended December 31, 2024 and any periodic filings made thereafter, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof, are qualified in their entirety by this cautionary statement and we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax's website at is not incorporated by reference in our current periodic reports with the SEC. Important Additional Information and Where to Find It On April 17, 2025, the Company filed a definitive proxy statement on Schedule 14A (the 'Proxy Statement') and form of accompanying GOLD proxy card with the U.S. Securities and Exchange Commission (the 'SEC') in connection with its 2025 Annual Meeting and its solicitation of proxies for the Company's director nominees and for other matters to be voted on. The Company may also file other relevant documents with the SEC regarding its solicitation of proxies for the 2025 Annual Meeting. This communication is not a substitute for any proxy statement or other document that the Company has filed or may file with the SEC in connection with any solicitation by the Company. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, ACCOMPANYING GOLD PROXY CARD AND OTHER RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a copy of the Proxy Statement, accompanying GOLD proxy card, any amendments or supplements to the Proxy Statement and any other relevant documents filed by the Company with the SEC at no charge at the SEC's website at Copies will also be available at no charge at the Company's website at Certain Information Regarding Participants This communication is neither a solicitation of a proxy or consent nor a substitute for any proxy statement or other filings that may be made with the SEC. The Company, its directors, its director nominees and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies for the 2025 Annual Meeting. Information regarding the names of such persons and their respective direct or indirect interests in the Company, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 17, 2025, including in the sections captioned 'Compensation Discussion and Analysis,' 'Summary Compensation Table,' 'Grants of Plan Based Awards,' 'Outstanding Equity Awards at Fiscal Year End,' 'Pay Ratio Disclosure,' 'Director Compensation,' 'Certain Transactions,' 'Security Ownership of Certain Beneficial Owners and Management,' and 'Supplemental Information Regarding Participants in the Solicitation.' To the extent that the Company's directors and executive officers have acquired or disposed of securities holdings since the applicable 'as of' date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These documents are or will be available free of charge at the SEC's website at For Investors: Paul Cox [email protected] 510-665-0499 or MacKenzie Partners, Inc. Bob Marese / John Bryan Toll-Free: 1-800-322-2885 [email protected] For Media: Dan Moore / Tali Epstein [email protected] 1 Based on Dynavax stock price between March 31, 2020, and March 31, 2025. View original content to download multimedia: SOURCE Dynavax Technologies
