Dynavax Announces $200 Million Share Repurchase Program
Dynavax Technologies (Nasdaq: DVAX) has announced a new $200 million share repurchase program with no expiration date, expected to be executed within one year. The company's management will determine the timing and amount of repurchases based on business capital needs, stock price, and market conditions. The program can be implemented through various methods including open market purchases and block trades, and can be suspended at any time. CFO Kelly MacDonald emphasized this aligns with their disciplined capital allocation approach, aiming to create shareholder value while maintaining flexibility for HEPLISAV-B development, research pipeline advancement, and portfolio expansion.
Dynavax Technologies (Nasdaq: DVAX) ha annunciato un nuovo programma di riacquisto di azioni da 200 milioni di dollari senza data di scadenza, che si prevede venga eseguito entro un anno. La direzione dell'azienda determinerà il momento e l'importo dei riacquisti in base alle esigenze di capitale aziendale, al prezzo delle azioni e alle condizioni di mercato. Il programma può essere attuato attraverso vari metodi, comprese le acquisti nel mercato aperto e le transazioni in blocco, e può essere sospeso in qualsiasi momento. Il CFO Kelly MacDonald ha sottolineato che questo è in linea con il loro approccio disciplinato all'allocazione del capitale, mirato a creare valore per gli azionisti mantenendo flessibilità per lo sviluppo di HEPLISAV-B, il progresso della pipeline di ricerca e l'espansione del portafoglio.
Dynavax Technologies (Nasdaq: DVAX) ha anunciado un nuevo programa de recompra de acciones de 200 millones de dólares sin fecha de vencimiento, que se espera que se ejecute dentro de un año. La gestión de la compañía determinará el momento y el monto de las recompras basado en las necesidades de capital del negocio, el precio de las acciones y las condiciones del mercado. El programa puede implementarse a través de varios métodos, incluidos las compras en el mercado abierto y las transacciones en bloque, y puede suspenderse en cualquier momento. La CFO Kelly MacDonald enfatizó que esto está en línea con su enfoque disciplinado de asignación de capital, con el objetivo de crear valor para los accionistas mientras se mantiene flexibilidad para el desarrollo de HEPLISAV-B, el avance de la pipeline de investigación y la expansión del portafolio.
다이나백스 테크놀로지스 (Nasdaq: DVAX)는 만료일이 없는 새로운 2억 달러 규모의 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 1년 이내에 실행될 것으로 예상됩니다. 회사 경영진은 비즈니스 자본 필요, 주가 및 시장 상황에 따라 매입 시기 및 금액을 결정할 것입니다. 이 프로그램은 공개 시장 구매, 블록 거래 등 다양한 방법으로 시행될 수 있으며, 언제든지 중단될 수 있습니다. CFO인 켈리 맥도날드는 이 전략이 자본 배분에서의 엄격한 접근 방식과 일치하며, HEPLISAV-B 개발, 연구 파이프라인 진전 및 포트폴리오 확장을 위한 유연성을 유지하면서 주주 가치를 창출하는 데 목표를 두고 있다고 강조했습니다.
Dynavax Technologies (Nasdaq: DVAX) a annoncé un nouveau programme de rachat d'actions de 200 millions de dollars sans date d'expiration, qui devrait être exécuté dans un délai d'un an. La direction de l'entreprise déterminera le moment et le montant des rachats en fonction des besoins en capital de l'entreprise, du prix des actions et des conditions du marché. Le programme peut être mis en œuvre par divers moyens, y compris les achats sur le marché libre et les transactions en bloc, et peut être suspendu à tout moment. Le CFO Kelly MacDonald a souligné que cela s'inscrit dans leur approche disciplinée d'allocation des capitaux, visant à créer de la valeur pour les actionnaires tout en maintenant une flexibilité pour le développement de HEPLISAV-B, l'avancement de la pipeline de recherche et l'expansion du portefeuille.
Dynavax Technologies (Nasdaq: DVAX) hat ein neues Aktienrückkaufprogramm im Wert von 200 Millionen Dollar ohne Ablaufdatum angekündigt, das voraussichtlich innerhalb eines Jahres umgesetzt wird. Das Management des Unternehmens wird den Zeitpunkt und den Betrag der Rückkäufe basierend auf den Kapitalbedürfnissen des Unternehmens, dem Aktienkurs und den Marktbedingungen festlegen. Das Programm kann auf verschiedene Weise umgesetzt werden, darunter Käufe auf dem offenen Markt und Blockgeschäfte, und kann jederzeit ausgesetzt werden. CFO Kelly MacDonald betonte, dass dies mit ihrem disziplinierten Ansatz zur Kapitalallokation übereinstimmt, mit dem Ziel, den Aktionärswert zu steigern und gleichzeitig Flexibilität für die Entwicklung von HEPLISAV-B, den Fortschritt des Forschungspipelines und die Portfolioerweiterung zu bewahren.
- Authorization of $200 million share repurchase program indicating strong financial position
- Flexible program structure without expiration date allows strategic execution
- Demonstrates commitment to returning value to shareholders while maintaining operational investment capacity
- Significant cash allocation to buyback may reduce funds available for business development and R&D
- No guaranteed timeline or commitment to complete the full buyback amount
Insights
The
The company's balanced approach to capital allocation is noteworthy - maintaining investment in HEPLISAV-B commercialization and pipeline development while returning capital to shareholders. This suggests strong cash flow generation and a healthy balance sheet. The program's size and timing indicate management's commitment to shareholder value creation while maintaining operational flexibility for strategic opportunities.
"Dynavax maintains a disciplined and thoughtful approach to capital allocation, focused on strategically deploying capital where we believe we can create the greatest value for our shareholders and this new program is aligned with that commitment," said Kelly MacDonald, Chief Financial Officer of Dynavax. "We believe this use of capital will benefit our shareholders while also preserving financial flexibility to make the investments required to deliver on our strategy to maximize the HEPLISAV-B® opportunity, advance our research pipeline, and pursue external opportunities to expand our portfolio with strategically aligned assets."
The timing and amount of any share repurchases under the share repurchase program will be determined by Dynavax's management at its discretion based on ongoing assessments of the capital needs of the business, the market price of Dynavax's common stock and general market conditions. Share repurchases under the program may be made through a variety of methods, which may include open market purchases, block trades, accelerated share repurchase transactions, exchange transactions, or any combination of such methods. The program does not obligate Dynavax to acquire any particular amount of its common stock, and the share repurchase program may be suspended or discontinued at any time at the Company's discretion.
About Dynavax
Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B® vaccine [Hepatitis B Vaccine (Recombinant), Adjuvanted], which is approved in the
Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements. Forward-looking statements can generally be identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "will," "may," "plan," "project," "potential," "seek," "should," "think," "toward," "will," "would" and similar expressions, or the negatives thereof, or they may use future dates. Forward-looking statements made in this document include statements regarding our expected timing and manner of share repurchases, the amount of cash and respective number of shares used in, or subject to, such repurchase transactions, and the sufficiency of our current capital and future cash flows to support our business strategy after the repurchase transactions are effected, our ability to return cash to shareholders, while continuing to execute on our long-term strategy, and ability drive sustainable value for all stakeholders. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, the risk that our share repurchase program will not provide the benefits anticipated, that actual demand for our products may differ from our expectations, risks relating to our ability to commercialize and supply HEPLISAV-B, risks related to the timing of completion and results of current clinical studies, risks related to the development and pre-clinical and clinical testing of vaccines containing CpG 1018 adjuvant, as well as other risks detailed in the "Risk Factors" section of our Quarterly Report on Form 10-Q for the three months ended September 30, 2024 and periodic filings made thereafter, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the
For Investors/Media:
Paul Cox
pcox@dynavax.com
510-665-0499
Nicole Arndt
narndt@dynavax.com
510-665-7264
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SOURCE Dynavax Technologies
FAQ
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