Sanofi Completes Acquisition of Dynavax and Delists from NASDAQ
On February 10, 2026, Sanofi announced the completion of the acquisition of Dynavax Technologies Corporation, in accordance with the terms of the tender offer. This transaction includes the adult hepatitis B vaccine HEPLISAV-B and a phase 1/2 clinical trial candidate vaccine for shingles.
Completion of Tender Offer
The tender offer for all outstanding common shares of Dynavax expired on February 9, 2026, at 11:59 PM (Eastern Time). The minimum validity threshold and all conditions of the offer were met. Sanofi will promptly settle all validly tendered and not withdrawn shares. The acquisition was finalized through a merger of a wholly-owned subsidiary of Sanofi with and into Dynavax, in accordance with Section 251(h) of the General Corporation Law of the State of Delaware. Dynavax remains the surviving company and becomes a wholly-owned indirect subsidiary of Sanofi. Dynavax shares not validly tendered in the offer have been converted into the right to receive $15.50 per share in cash, without interest, subject to applicable withholding taxes.
Inclusion of Key Vaccines
The acquisition includes the adult hepatitis B vaccine HEPLISAV-B, which is currently marketed in the United States and features a two-dose vaccination schedule administered over one month. It also encompasses the shingles vaccine candidate Z-1018, which is in phase 1/2 of clinical trials, as well as other vaccine projects under development. This acquisition strengthens Sanofi's presence in adult vaccination by combining Dynavax's vaccines with Sanofi's commercial reach, global scale, and development capabilities. On February 10, 2026, the ordinary shares of Dynavax ceased trading on the NASDAQ Global Select Stock Market.
