Deep Track files Amendment No.2 to report 15.7M DVAX shares (13.41%)

Rhea-AI Filing Summary

Deep Track Biotechnology Master Fund, Ltd., Deep Track Capital, LP and individual David Kroin report shared beneficial ownership of 15,726,349 shares of Dynavax Technologies Corporation common stock, representing 13.41% of the 117,267,482 shares outstanding cited in the filing. The filing is Amendment No. 2 to a prior Schedule 13G/13D series and states the Reporting Persons are eligible to report on Schedule 13G under Rule 13d-1(h), replacing the prior Schedule 13D disclosures.

The cover-page details show the Reporting Persons have no sole voting or dispositive power and only shared voting and dispositive power over the reported shares.

Positive

• Material disclosure of a 13.41% stake in DVAX provides transparency to the market
• Amendment replaces prior Schedule 13D and clarifies current reporting status under Rule 13d-1(h)

Negative

• None.

Insights

Securities Analyst

TL;DR: A coordinated investor group discloses a >13% passive stake, filed as a Schedule 13G amendment replacing prior 13D filings.

The filing documents a meaningful minority holding of 15,726,349 shares (13.41%). The Reporting Persons state shared voting and dispositive power and assert the holdings are not for the purpose of changing control. The restatement from a Schedule 13D to a Schedule 13G under Rule 13d-1(h) signals that the group considers its position passive per the rule's conditions. This is a material ownership disclosure but contains no operational, financial performance or transaction details.

Corporate Governance Expert

TL;DR: Governance disclosure shows coordinated ownership but affirms passive intent; no control actions are declared.

The reporting trio—an investment fund, its adviser/partner structure, and an individual—each report identical aggregate holdings and classification of authority as shared rather than sole. The certification language explicitly states the securities were not acquired to influence control. This filing is important for shareholders and proxy considerations because a >5% stake obligates transparency, yet it disclaims activist intent and lists no group dissolution or additional arrangements.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Dynavax Technologies Corporation

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

268158201

(CUSIP Number)

08/22/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 268158201

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,726,349.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,726,349.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,726,349.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.41 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 268158201

1

Names of Reporting Persons

Deep Track Capital, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,726,349.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,726,349.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,726,349.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.41 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 268158201

1

Names of Reporting Persons

David Kroin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,726,349.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,726,349.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,726,349.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.41 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Explanatory Note: Deep Track Biotechnology Master Fund, Ltd., Deep Track Capital, LP, and David Kroin (together, the "Reporting Persons") initially reported their beneficial ownership of the Common Stock, $0.001 par value, of Dynavax Technologies Corporation (the "Issuer") on a Schedule 13G, filed on May 19, 2023, as amended on February 14, 2024. The Reporting Persons subsequently reported their beneficial ownership on a Schedule 13D filed on September 16, 2024, as amended on October 24, 2024 and February 19, 2025 (collectively, the "Schedule 13D"). Pursuant to Rule 13d-1(h), the Reporting Persons are eligible to again report their beneficial ownership on a Schedule 13G and are filing this Amendment No. 2 to Schedule 13G to amend and replace the Schedule 13D.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dynavax Technologies Corporation
(b)	Address of issuer's principal executive offices: 2100 Powell Street, Suite 720, Emeryville, CA 94608
Item 2.
(a)	Name of person filing: (i) Deep Track Biotechnology Master Fund, Ltd. (ii) Deep Track Capital, LP (iii) David Kroin
(b)	Address or principal business office or, if none, residence: (i) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (ii) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Cayman Islands (ii) Delaware (iii) United States
(d)	Title of class of securities: Common Stock, $0.001 par value
(e)	CUSIP No.: 268158201
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned:
(b)	Percent of class:
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote:
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of:
	(iv) Shared power to dispose or to direct the disposition of: Information with respect to the Reporting Persons' ownership of the Common Stock as of August 22, 2025 is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is determined based on 117,267,482 Common Stock outstanding, as reported on the Issuer's 10-Q filed August 7, 2025.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Deep Track Biotechnology Master Fund, Ltd.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Director
Date:	08/25/2025

Deep Track Capital, LP

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	08/25/2025

David Kroin

Signature:	/s/ David Kroin
Name/Title:	David Kroin
Date:	08/25/2025

FAQ

What stake in Dynavax (DVAX) do the Reporting Persons disclose?

They report beneficial ownership of 15,726,349 shares, equal to 13.41% of 117,267,482 shares outstanding.

Do the Reporting Persons claim control of Dynavax (DVAX)?

No. The filing states they have no sole voting or dispositive power and assert the securities were not acquired to change or influence control.

Which entities filed this Schedule 13G/A for DVAX?

The filers are Deep Track Biotechnology Master Fund, Ltd., Deep Track Capital, LP, and David Kroin.

What change does Amendment No. 2 make to prior filings for DVAX?

Amendment No. 2 to Schedule 13G replaces the previously reported Schedule 13D series and reports the Reporting Persons as eligible to file under Rule 13d-1(h).

As of what date is the ownership information reported?

Ownership is reported as of August 22, 2025 and the signatures are dated August 25, 2025.