Dynavax Prices Public Offering of Common Stock

Dynavax Technologies (NASDAQ:DVAX) announced the pricing of its public offering of 5,000,000 shares of common stock will be $15 per share.
As quoted in the press release:

The gross proceeds to Dynavax from this offering are expected to be approximately $75 million, before deducting the underwriting discount and other estimated offering expenses payable by Dynavax. Dynavax has granted the underwriters a 30-day option to purchase at the public offering price up to an aggregate of 750,000 additional shares of its common stock to cover over-allotments, if any. The offering is expected to close on or about August 15, 2017, subject to customary closing conditions. Dynavax anticipates using the net proceeds from the proposed offering to fund activities associated with preparing for the anticipated U.S. commercial launch of HEPLISAV-B, should HEPLISAV-B gain approval by the Food and Drug Administration. In addition, net proceeds from the offering will support continuing the clinical development of its lead investigational cancer immunotherapeutic product candidates, SD-101 and DV281, continuing research and development activities, and for other general corporate purposes, including working capital.

Click here to read the full press release.

Source: www.marketwired.com