Dynavax Technologies Sets $100 Million Accelerated Stock Buyback

Dow Jones11-11

By Colin Kellaher

Dynavax Technologies said it inked a $280 million accelerated share-repurchase agreement with Goldman Sachs.

The biopharmaceutical Dynavax on Monday said it expects an initial delivery of about 6.1 million shares, representing roughly 80% of the deal, with final settlement in the first quarter.

The Emeryville, Calif., company, which has nearly 131.5 million shares outstanding and has a market capitalization topping $1.7 billion, said it is making the accelerated buyback as part of the $200 million buyback program it announced last week, adding that it will have $100 million remaining under the program.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 11, 2024 08:35 ET (13:35 GMT)

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