Company: DVAX
Filing Date: 2025-02-19
Form Type: DFAN14A
Source: 0001193125-25-029690
Chunk: 1

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-02-19
Form: DFAN14A
Chunk 1
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, and Unwillingness to Work Constructively Believes Its Slate of Director Nominees Would Collectively Bring Valuable Shareholder Perspective and Independence as Well as Necessary Life Sciences Background, Capital Allocation Experience and Operational Expertise to the Dynavax Board Greenwich, CT, February 19, 2025– Deep Track Capital, LP, (together with its affiliates, “Deep Track” or “we”), one of the largest shareholders of Dynavax Technologies Corporation (NASDAQ: DVAX) (“Dynavax”, “DVAX” or the “Company”), with ownership of approximately 13.53% of the Company’s outstanding shares, today announced that it has nominated four highly qualified candidates for election to the Company’s Board of Directors (the “Board”) at the 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Deep Track also issued a public letter to its fellow DVAX shareholders. The full text of the letter follows: February 19, 2025 Dear Dynavax Shareholders, Deep Track Capital, LP (together with its affiliates, “Deep Track” or “we”) is one of the largest shareholders of Dynavax Technologies Corporation (“Dynavax”, “DVAX” or the “Company”), with ownership of approximately 13.53% of the Company’s outstanding shares. Our firm manages over $4 billion on behalf of our investors, which include numerous healthcare organizations and non-profits,and we focus exclusively on investing in the life sciences space. Since the firm’s inception in 2021, we have directly invested billions of dollars into more than one hundred companies to advance the development of novel therapies. The senior members of Deep Track first purchased shares of Dynavax in a financing nearly 15 years ago 1to support the development of Heplisav, a best-in-classadult vaccine for hepatitis B. As a firm, we have continued to steadily build our position in the Company and, in fact, have purchased shares every quarter from Q4 2022 through Q4 2024 – demonstrating our conviction in Dynavax’s potential.

| 1 | Press Release, Dynavax Raises $44 Million Through Public Offering of Common Stock and Warrants |

Heplisav is an extremely valuable asset positioned for many years of growth and continued cash generation that will only improve as it is further established in the marketplace.Unfortunately, the Company has not concentrated on leveraging Heplisav’s potential. Instead, it has pursued a misguided “empire-building” exercise led by the current chairman of the Board of Directors (