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Dynavax (DVAX): Deep Track Capital (14.8% Holder) Pushes Board Slate, Urges Focus on Heplisav and Capital Returns

Summary

Deep Track Capital, owning ~14.8% of Dynavax, filed a proxy statement urging shareholders to support its board nominees and strategic plan. It argues Dynavax can reach ~$600M in Heplisav sales by 2030, implying ~$28/share in value with buybacks and an additional ~$5/share from cash. Deep Track criticizes management for poor capital allocation, warns against value-destructive acquisitions, and calls for disciplined governance, capital returns, and a stronger focus on Heplisav to unlock shareholder value.

Source:

https://www.sec.gov/Archives/edgar/data/1029142/000119312525117792/d833627ddfan14a.htm

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