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New Share Repurchase Program
Dynavax's Board of Directors authorized the repurchase of up to $100 million of Dynavax's common stock. Similar to the $200 million repurchase of Dynavax's common stock announced in 2024, this new share repurchase program does not have an expiration date and Dynavax currently expects that purchases will be executed within a period of up to one year. Share repurchases under the program may be made from time to time through solicited or unsolicited transactions in the open market, in privately negotiated transactions or pursuant to a Rule 10b5-1 plan. The timing and amount of any share repurchases under the share repurchase program will be determined by Dynavax's management at its discretion based on ongoing assessments of the capital needs of the business, the market price of Dynavax's common stock and general market conditions. The program does not obligate Dynavax to acquire any particular amount of its common stock, and the share repurchase program may be suspended or discontinued at any time at Dynavax's discretion.
"We remain focused on delivering both best-in-class vaccine products and consistent shareholder growth. Given our sustained commercial success and strong financial position – along with further clarity on capital allocation needs – we are pleased to authorize another $100 million in share repurchases," said Kelly MacDonald, Chief Financial Officer of Dynavax. "This new buyback, along with the $200 million in share repurchases announced last November, underscores our commitment to returning value to shareholders as a part of our balanced capital allocation strategy that also supports long-term growth initiatives and execution on our business strategy."
Posted In: DVAX
