Shares of Dynavax Technologies (DVAX +0.00%) popped on Wednesday after the vaccine maker struck a deal to be acquired by Sanofi (SNY 0.71%).
As of 3:00 p.m. EST, Dynavax's stock price was up more than 38%.
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An appealing offer for Dynavax's investors
Under the terms of the deal, Sanofi will begin a tender offer to purchase Dynavax's stock for $15.50 per share in cash. That values the biotech at roughly $2.2 billion, a premium of 39% compared to its closing stock price on Tuesday.
The deal is projected to close in the first quarter of 2026.
NASDAQ: DVAX
Key Data Points
Joining forces to address unmet healthcare needs
The merger would combine Dynavax's adult hepatitis B vaccine and shingles vaccine candidate with Sanofi's global scale, development expertise, and commercial distribution network.
Dynavax's adult hepatitis B vaccine is administered via a two-dose regimen over a one-month period. It provides protection sooner than other hepatitis B vaccines that are given in three doses over six months.
The hepatitis B virus can cause liver damage and even lead to liver cancer. Nearly 100 million adults born before 1991 are not yet vaccinated against hepatitis B in the U.S. alone.
Dynavax's shingles vaccine candidate is currently in the early stages of clinical development. It aims to offer protection against the viral disease that can cause blistering rashes and long-term nerve pain.
