Dynavax Technologies Corp. plans to sell $125.0 million of its common stock, subject to market and other conditions, in an underwritten public offering.
The company will also grant underwriters an overallotment option to buy up to an additional $18.8 million of common stock.
Dynavax plans to use the net proceeds to fund activities associated with preparing for the anticipated U.S. commercial launch of HEPLISAV-B after the drug gains approval by the U.S. Food and Drug Administration.
In addition, the net proceeds will support continuing the clinical development of its lead investigational cancer immunotherapeutic product candidates, SD-101 and DV281, continuing research and development activities and for other general corporate purposes, including working capital.
Cowen, RBC Capital Markets and William Blair are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co. is acting as lead manager for the offering.