Overview
- Sanofi agreed to acquire Dynavax for $15.50 per share in cash, valuing the deal at about $2.2 billion and representing roughly a 39% premium.
- Completion is targeted for the first quarter of 2026, with Sanofi using available cash and maintaining its 2025 financial guidance.
- Dynavax’s board unanimously approved the transaction, which remains subject to HSR antitrust review, a majority tender of shares, and certain foreign clearances.
- The purchase adds HEPLISAV-B, a two-dose, one-month adult hepatitis B vaccine, along with the early-stage shingles candidate Z-1018.
- Separately, the FDA issued a complete response letter for Sanofi’s tolebrutinib, and the company said it is pursuing the actions requested by regulators.