We recently published 10 Stocks Lighting Up Market Ahead of Christmas. Dynavax Technologies Corp. (NASDAQ:DVAX) is one of the best performers on Wednesday.
Dynavax soared by 38.19 percent on Wednesday to close at $15.38 apiece as investors took heart from news that it was set to be acquired by Sanofi for $2.2 billion.
In a statement, Dynavax Technologies Corp. (NASDAQ:DVAX) said that it officially entered into an agreement with Sanofi for the latter’s acquisition of all its outstanding shares at a price of $15.50 apiece.
The offer price represents a premium of approximately 39 percent over its closing price on December 23.
The acquisition would augment Sanofi’s presence in adult immunization, particularly with Dynavax Technologies Corp.’s (NASDAQ:DVAX) adult hepatitis B vaccine Heplisav-B—currently marketed in the US and differentiated by its two-dose regimen over one month, which enables high levels of seroprotection faster than other hepatitis B vaccines, which are given in three doses over six months.
The acquisition also includes Dynavax Technologies Corp.’s (NASDAQ:DVAX) shingles vaccine candidate (Z-1018), which is currently in phase 1/2 clinical development, as well as other vaccine pipeline projects.
“Joining Sanofi will provide the global scale and expertise needed to maximize the impact of our vaccine portfolio,” said CEO Ryan Spencer.
“We believe Sanofi’s commercial reach, development capabilities, and commitment to evidence-based immunization will amplify the opportunity for Heplisav-B and our innovative pipeline to address important public health needs, further advancing our mission to help protect the world against infectious disease. We are confident that this transaction – and the compelling value it provides – is in the best interests of the Company and its stockholders,” he added.
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Disclosure: None. This article is originally published at Insider Monkey.
