Edition:
United Kingdom

Dynavax Announces Strategic Restructuring To Focus On Its Vaccine Business


Thursday, 23 May 2019 

May 23 (Reuters) - Dynavax Technologies Corp ::DYNAVAX ANNOUNCES STRATEGIC RESTRUCTURING TO FOCUS ON ITS VACCINE BUSINESS.DYNAVAX ANNOUNCES STRATEGIC RESTRUCTURING TO FOCUS ON ITS VACCINE BUSINESS.DYNAVAX TECHNOLOGIES CORP - COMPANY WILL ALIGN ITS RESOURCES TO FOCUS ON HEPLISAV-B COMMERCIALIZATION.DYNAVAX TECHNOLOGIES CORP - EDDIE GRAY, CEO, TO RETIRE.DYNAVAX TECHNOLOGIES CORP - EDDIE GRAY, CEO, TO RETIRE.DYNAVAX TECHNOLOGIES CORP - WILL EXPLORE STRATEGIC ALTERNATIVES FOR ITS IMMUNO-ONCOLOGY PROGRAMS.DYNAVAX TECHNOLOGIES CORP - WORKFORCE REDUCTION IS EXPECTED TO REDUCE COMPENSATION AND BENEFITS COST BY APPROXIMATELY $16 MILLION DOLLARS ANNUALLY.DYNAVAX TECHNOLOGIES CORP - WILL CONDUCT A SEARCH FOR COMPANY'S NEXT CEO AND WILL CONSIDER BOTH INTERNAL AND EXTERNAL CANDIDATES..DYNAVAX TECHNOLOGIES CORP - IS ELIMINATING APPROXIMATELY 82 CURRENT POSITIONS.DYNAVAX TECHNOLOGIES - RESTRUCTURING COSTS AND RETIREMENT COSTS, SEVERANCE COSTS, ARE EXPECTED TO BE APPROXIMATELY $5.5 MILLION.DYNAVAX TECHNOLOGIES - IS ELIMINATING ABOUT 37% OF ITS CURRENT U.S. WORKFORCE.DYNAVAX - WILL BE RESPONSIBLE FOR SOME WIND-DOWN COSTS, COMMITTED CONTRACTUAL COSTS FOR IMMUNO-ONCOLOGY PROGRAMS THAT WILL RUN THROUGH Q2 NEXT YEAR.DYNAVAX TECHNOLOGIES - ESTIMATES OPERATING EXPENDITURES RELATED TO EXTERNAL ONCOLOGY COSTS WILL BE REDUCED BY ABOUT $8 MILLION PER QUARTER VERSUS MARCH QUARTER.DYNAVAX TECHNOLOGIES - AS OF MARCH 31, REPORTED CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES TOTALING $183.2 MILLION.. 

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