Nucor earnings beat by $0.08, revenue fell short of estimates
EMERYVILLE, Calif. - Dynavax Technologies Corporation (NASDAQ: DVAX), a biopharmaceutical company specializing in innovative vaccine development, has filed preliminary proxy materials with the SEC in preparation for its 2025 Annual Meeting of Stockholders. The company’s preliminary proxy statement is now publicly accessible on its investor relations webpage.
Dynavax has announced its Board’s nomination of four independent directors for reelection at the upcoming meeting. The Board, credited with guiding the company to record operational and financial results, has overseen a 300% stockholder return over the past five years, outperforming both the NASDAQ Biotechnology Index and the S&P Biotechnology Select Industry Index.
The company’s HEPLISAV-B® vaccine has achieved a leading 44% market share in the U.S. adult Hepatitis B market, contributing to $268 million in revenues for 2024. Dynavax anticipates continued success with projected net product revenues between $305 million to $325 million for 2025. Recent financial data from InvestingPro shows impressive revenue growth of 19.36% and a robust gross profit margin of 60.95%. Additionally, the company has generated approximately $950 million in revenue from its business development activities during the COVID-19 pandemic. For deeper insights into Dynavax’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
The Board has undertaken a refresh initiative since 2020, adding directors with specialized expertise in vaccine research and development, as well as capital markets and finance. Following the 2025 Annual Meeting, the Board will include nine directors, six of whom have been appointed since 2020. The Board is also committed to a phased declassification process, aiming for all directors to be elected annually by the 2028 Annual Meeting.
Contrasting with the Board’s long-term strategy, the investor group Deep Track has been pushing for a short-term plan, which the Board believes could undermine the company’s long-term growth potential. Despite nearly 20 interactions and multiple settlement proposals from Dynavax, Deep Track has not agreed to a resolution.
Dynavax’s Board remains dedicated to acting in the best interests of all stockholders and is prepared to continue engaging with them in the lead-up to the 2025 Annual Meeting. Goldman Sachs & Co. LLC and Cooley LLP are serving as financial and legal advisors, respectively, to Dynavax.
The information reported is based on a press release statement. Dynavax, known for its HEPLISAV-B® vaccine and CpG 1018® adjuvant, is a leader in the biopharmaceutical industry focusing on the prevention of infectious diseases. For further details on the company’s products and pipeline, please visit their official website.
In other recent news, Dynavax Technologies reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.05, which exceeded the forecast of $0.04. However, the company’s revenue of $71.1 million fell short of the expected $72.44 million. Despite the revenue miss, H.C. Wainwright maintained a Buy rating on Dynavax with a $31 price target, while JMP Securities increased its price target to $33, maintaining a Market Perform rating. Dynavax’s HEPLISAV-B vaccine sales reached record levels, showing a 39% year-over-year increase. The company has executed half of its $200 million share repurchase program, with plans to complete the remaining $100 million by the end of 2025. Additionally, Dynavax projected HEPLISAV-B revenues between $305 million and $325 million for 2025, slightly below consensus expectations. Meanwhile, Recursion announced the appointment of Namandjé Bumpus, Ph.D., and Elaine Sun to its Board of Directors, aiming to bolster its strategic leadership.
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