Dynavax Announces Third Independent DSMB Recommendation to Continue Phase 3 Study of HEPLISAV-B(TM) and Updates Financial Status

Dynavax Technologies Corporation(NASDAQ: DVAX) today announced that the independent Data and SafetyMonitoring Board (DSMB) charged with periodically reviewing safety data fromHBV-23, the ongoing Phase 3 clinical study of HEPLISAV-B, Dynavax'sinvestigational adult hepatitis B vaccine, has completed its thirdprespecified review and has recommended that the study continue unchanged. The third DSMB review included safety data for all enrolled subjectscollected through the data cut-off in June. As of the cut-off, allcontinuing subjects who had received the second immunization (which was thelast active dose for HEPLISAV-B subjects) had reached at least 8 months ofthe requisite one year follow-up after the second immunization. The DSMBreviewed unblinded tables and listings presenting key safety data. Based onthis review, the DSMB recommended continuing HBV-23 with no change to thestudy. Over 2,200 subjects have completed their final study visit and all studyvisits for HBV-23 are expected to be completed by October 2015. Top lineresults are expected to be released by early 2016. Separately, Dynavax announced that its cash, cash equivalents and marketablesecurities at June 30, 2015 were approximately $93.4 million, which does notinclude approximately $28.8 million in additional cash resulting from stocksales following the end of the quarter under the Company's at-the-marketsales agreement ("ATM agreement"). The ATM agreement has concluded becausethe Company has reached $50 million of gross proceeds as specified in theATM agreement. At July 8, 2015, the Company had approximately 31,400,000shares of common stock outstanding and approximately 17,000 shares ofpreferred stock outstanding which are convertible into approximately1,700,000 shares of common stock.