Dynavax Technologies (DVAX) has urged stockholders to vote in favor of its four board nominees—Brent MacGregor, Scott Myers, Lauren Silvernail, and Elaine Sun—at the upcoming Annual Meeting on June 11, 2025.
The company emphasized that these candidates bring critical expertise in biotech, vaccines, M&A, and financial strategy, vital to its long-term growth.
Dynavax criticized activist investor Deep Track for proposing a "strip-mining" strategy that prioritizes short-term gains over sustainable value creation. The company warned that replacing current board members with Deep Track's less-qualified nominees would undermine its successful repositioning, operational execution, and capital strategy.
Independent proxy advisors ISS, Egan-Jones, and Glass Lewis have endorsed Dynavax's nominees, citing Deep Track's flawed case for change, misleading claims, and the questionable qualifications of its principal, Brett Erkman. ISS and Glass Lewis highlighted the company's 203 percent five-year total return and strong leadership, including the market success of HEPLISAV-B.
Dynavax reminded stockholders that the re-election of its nominees is essential to preserving strategic continuity and urged them to vote using the GOLD proxy card.
Monday, DVAX closed at $10.28 and remained unchanged in after-hours trading on the Nasdaq Global Select Market.
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