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Dynavax ( (DVAX) ) has shared an update.
On December 23, 2025, Dynavax entered into a merger agreement under which Sanofi will launch a cash tender offer to acquire all outstanding Dynavax shares for $15.50 per share, valuing the vaccines company at about $2.2 billion and representing a 39% premium to its December 23, 2025 closing price and a 46% premium to its three-month VWAP. If the offer, which is subject to customary antitrust and regulatory approvals and a majority tender condition, is completed, a Sanofi subsidiary will merge with Dynavax, making it a wholly owned unit, with all remaining shares converted into the same cash consideration and outstanding equity awards largely cashed out or converted into cash-based awards on specified post-closing vesting schedules. The transaction, unanimously approved by the Dynavax board and expected to close in the first quarter of 2026, will add Dynavax’s marketed adult hepatitis B vaccine HEPLISAV-B and its phase 1/2 shingles candidate Z-1018 to Sanofi’s portfolio, strengthening Sanofi’s position in the adult immunization market and providing Dynavax shareholders with an immediate cash premium, while key Dynavax executives are set to remain in their roles through closing or termination of the merger agreement.
The most recent analyst rating on (DVAX) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on Dynavax stock, see the DVAX Stock Forecast page.
Spark’s Take on DVAX Stock
According to Spark, TipRanks’ AI Analyst, DVAX is a Neutral.
The score is driven primarily by improving fundamentals (revenue and free-cash-flow growth with manageable leverage) and a positive earnings-call outlook (market-share gains, pipeline progress, and continued repurchases). Offsetting these positives are ongoing profitability concerns and overbought technical conditions, while valuation is constrained by a negative P/E and no dividend support.
To see Spark’s full report on DVAX stock, click here.
More about Dynavax
Dynavax Technologies is a commercial-stage biopharmaceutical company focused on developing and commercializing innovative vaccines against infectious diseases. Its key products include HEPLISAV-B, an adult hepatitis B vaccine approved in the U.S., European Union and United Kingdom, and the CpG 1018 adjuvant, with a strategic emphasis on adult immunization and leveraging adjuvant technology to enhance vaccine responses.
Average Trading Volume: 2,141,218
Technical Sentiment Signal: Buy
Current Market Cap: $1.81B
Find detailed analytics on DVAX stock on TipRanks’ Stock Analysis page.