Dynavax Stockholders Elect All Dynavax Director Nominees at 2025 Annual Meeting

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Dynavax Technologies Corporation (DVAX) announced that stockholders have elected all four director nominees - Brent MacGregor, Scott Myers, Lauren Silvernail, and Elaine Sun - to the Company's Board of Directors at their 2025 Annual Meeting. The preliminary voting results also indicate stockholder approval for all other Board-recommended proposals, including the phased declassification of the Board. The company views this outcome as validation of their strategic plan. The results remain preliminary until final tabulation and certification by the independent Inspector of Elections, with final results to be filed on Form 8-K with the SEC. Goldman Sachs & Co. LLC and Cooley LLP are serving as financial advisor and legal counsel, respectively.

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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 www.dynavax.com.

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 www.dynavax.com is not incorporated by reference in our current periodic reports with the SEC.

For Investors:
Paul Cox
pcox@dynavax.com
510-665-0499

For Media:
Dan Moore / Tali Epstein
Dynavax-CS@collectedstrategies.com

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SOURCE Dynavax Technologies

FAQ

Who are the newly elected directors to Dynavax (DVAX) board in 2025?

The newly elected directors to Dynavax's board are Brent MacGregor, Scott Myers, Lauren Silvernail, and Elaine Sun.

What proposals were approved at Dynavax's 2025 Annual Meeting?

Stockholders approved all Board-recommended proposals, including the election of four director nominees and the phased declassification of the Board.

Who are the advisors for Dynavax (DVAX)?

Goldman Sachs & Co. LLC is serving as financial advisor and Cooley LLP is serving as legal counsel.

What changes are coming to Dynavax's Board structure?

The stockholders approved a phased declassification of the Board, though specific details of the implementation were not provided in the announcement.