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@ Layer3.news
2025-02-20 21:02:51
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INVESTOR DEEP TRACK LAUNCHES PROXY FIGHT AT DYNAVAX, NOMINATES 4 DIRECTORS
https://media.zenfs.com/en/reuters-finance.com/e3ac3e18c9e70699a374a20e03c06031
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✍️ Deep Track Capital is launching a board fight at Dynavax Technologies, pushing for new directors to prioritize the development of the company's hepatitis B vaccine instead of pursuing new acquisitions.
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👉 Deep Track Capital is launching a board fight at Dynavax Technologies
👉 The investment firm is seeking to elect four new directors to prioritize the development of Heplisav
👉 Deep Track believes that Dynavax is focusing too much on acquiring new companies and not enough on growing its existing assets
👉 The investment firm estimates that Heplisav will generate over $1 billion in cash through 2030
👉 Deep Track wants the company to return this cash to shareholders
👉 The investment firm has proposed doubling Dynavax's share repurchase program to $400 million
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#DavidKroin #BrettErkman #SveaHerbst-Bayliss #NewYork #business
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