Dynavax Reports New Employment Inducement Awards

July 23, 2010 at 4:30 PM EDT

BERKELEY, CA, Jul 23, 2010 (MARKETWIRE via COMTEX News Network) -- Dynavax Technologies Corporation (NASDAQ: DVAX) reported that equity awards were made to two new employees under the Company's 2010 Employment Inducement Award Plan ("the 2010 Plan"). The employees were granted options to purchase an aggregate of 13,000 shares of the Company's common stock at an exercise price of $1.96 per share, the closing price of Dynavax common stock on the date of grant. Dynavax's Board of Directors adopted the 2010 Plan to grant equity awards as a material inducement to new employees. NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement to be issued when awards are made under the 2010 Plan.

About Dynavax

Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious diseases. The Company's lead product candidate is HEPLISAV(TM), an investigational adult hepatitis B vaccine designed to enhance protection more rapidly and with fewer doses than current licensed vaccines. For more information visit www.dynavax.com. 

Contact:
Michael Ostrach
Vice President and Chief Business Officer
510-665-7257
Email Contact

SOURCE: Dynavax Technologies Corporation 

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