Stock Track | Dynavax Soars Over 5% on $100M Accelerated Share Buyback Plan

Stock Track11-11

Shares of Dynavax Technologies Corp. (NASDAQ: DVAX) surged over 5% on Friday after the biopharmaceutical company announced it has entered into a $100 million accelerated share repurchase (ASR) agreement with Goldman Sachs.

The ASR is part of Dynavax's recently approved $200 million share buyback program. Under the terms of the agreement, Dynavax will receive an initial delivery of approximately 6.1 million shares, representing around 80% of the total $100 million repurchase amount. The final number of shares to be repurchased will be determined based on the volume-weighted average price of Dynavax's stock during the term of the ASR transaction, which is expected to be completed in the first quarter of 2025.

Share buybacks are typically viewed as a positive signal by investors, as they reduce the number of outstanding shares and boost a company's earnings per share. Analysts believe Dynavax's substantial $200 million repurchase authorization demonstrates the company's confidence in its long-term prospects and commitment to enhancing shareholder value.

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(NASDAQ: DVAX) surged over 5% on Friday after the biopharmaceutical company announced it has entered into a $100 million accelerated share repurchase (ASR) ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DVAX","symbol_name":"德纳维制药","start_time":0,"source_url":"","article_id":"1131570305","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1131570305","pubTimestamp":1731335567,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Dynavax Technologies Corp.  surged over 5% on Friday after the biopharmaceutical company announced it has entered into a $100 million accelerated share repurchase  agreement with Goldman Sachs.The ASR is part of Dynavax's recently approved $200 million share buyback program. 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