Dynavax shot up 38.19 percent on Wednesday to close at $15.38 apiece after investors rejoiced after knowing that it was set to be acquired by Sanofi for $2.2 billion.
Dynavax Technologies Corp. announced in a statement that it has officially entered into a deal with Sanofi to have the latter’s acquisition of all of its outstanding shares for $15.50 apiece.
Therefore, the offer price represents a premium of about 39 percent over its closing price on December 23.
The acquisition would also increase the presence of Sanofi in adult immunization, especially with the adult hepatitis B vaccine, Heplisav-B, of Dynavax Technologies Corp., which is currently marketed in the US and whose two-dose regimen over one month provides high levels of seroprotective activity, compared with other hepatitis B vaccines that use three doses over six months.
The acquisition also includes Dynavax’s shingles vaccine candidate (Z-1018), which is in phase 1/2 clinical development, as well as other vaccine pipeline projects.
CEO Ryan Spencer said that “Joining Sanofi will provide the global scale and expertise needed to maximize the impact of our vaccine portfolio.”
He stated, “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.”
Although it is suggested that DVAX is a promising and good investment, it is expected that there are other AI stocks that have higher potential to give higher returns and lower risk of downfall.
