Dynavax Technologies Corporation (NASDAQ:DVAX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 below.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 30, 2019, the Committee approved the grant of options to purchase 25,000 shares of the Company’s common stock to Mr. Novack and 50,000 shares of the Company’s common stock to Mr. Spencer (the “Options”). Mr. Novack’s Options were approved in connection with Mr. Novack’s appointment as interim Co-President. 25,000 of Mr. Spencer’s Options were approved in connection with Mr. Spencer’s appointment as interim Co-President, and 25,000 of Mr. Spencer’s Options were approved in connection with Mr. Spencer’s promotion to Senior Vice President, Commercial. The grant date of the Options will be determined by the Committee at a future date prior to the end of June, 2019, will have an exercise price equal to the fair market value of the Company’s stock on the date of grant, and will vest one-third on the first anniversary of the grant date, and in equal monthly installments thereafter.
About Dynavax Technologies Corporation (NASDAQ:DVAX)
Dynavax Technologies Corporation (Dynavax) is a clinical-stage biopharmaceutical company. The Company uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. Its development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg). Its lead cancer immunotherapy candidate is SD-101, a C Class CpG TLR9 agonist is selected for characteristics optimal for treatment of cancer, including high interferon induction. Its SD-101 clinical program is intended to assess the preliminary efficacy of SD-101 in a range of tumors and in combination with a range of treatments. Its advanced inflammatory disease candidate is AZD1419. Its pipeline of product candidates for cancer immunotherapy includes DV281 and CpG-Nanoparticles, which are in the preclinical stage.