<SEC-DOCUMENT>0001193125-18-050501.txt : 20180220
<SEC-HEADER>0001193125-18-050501.hdr.sgml : 20180220
<ACCEPTANCE-DATETIME>20180220170406
ACCESSION NUMBER:		0001193125-18-050501
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180216
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180220
DATE AS OF CHANGE:		20180220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNAVAX TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0001029142
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				330728374
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34207
		FILM NUMBER:		18625587

	BUSINESS ADDRESS:	
		STREET 1:		2929 SEVENTH STREET
		STREET 2:		SUITE 100
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
		BUSINESS PHONE:		5108485100

	MAIL ADDRESS:	
		STREET 1:		2929 SEVENTH STREET
		STREET 2:		SUITE 100
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d502638d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>Form <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): February 16, 2018 </B></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Dynavax Technologies Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission
File <FONT STYLE="white-space:nowrap">Number:&nbsp;001-34207</FONT> </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">33-0728374</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2929 Seventh Street, Suite 100 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Berkeley, CA 94710-2753 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(510) <FONT STYLE="white-space:nowrap">848-5100</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the Registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth
company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Term Loan Agreement </I></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;20, 2018, Dynavax Technologies Corporation, as borrower (the &#147;Company&#148;), entered into a term loan agreement (the
&#147;Loan Agreement&#148;) with CRG Servicing LLC, as administrative agent and collateral agent (&#147;Agent&#148;), and the other lenders party thereto. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Loan Agreement provides for a $175.0&nbsp;million term loan facility, $100.0&nbsp;million of which was borrowed at closing (the
&#147;Initial Term Loan&#148;), and, subject to the satisfaction of certain market capitalization and other borrowing conditions, up to an additional $75.0&nbsp;million at the Company&#146;s option on or before July&nbsp;17, 2019 (the &#147;Second
Tranche Term Loan&#148; and, together with the Initial Term Loan, the &#147;Term Loans&#148;). The Company expects to use the proceeds of the Initial Term Loan and any Second Tranche Term Loan, if borrowed, for commercialization of its <FONT
STYLE="white-space:nowrap">HEPLISAV-B&#153;,</FONT> adult Hepatitis B Vaccine, product and further development of its immuno-oncology pipeline, as well as general working capital and general corporate purposes, including fees, costs and expenses
incurred in connection with the Loan Agreement. The Term Loans have a maturity date of December&nbsp;31, 2023, unless earlier prepaid. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Term Loans under the Loan Agreement bear interest at a rate equal to 9.50% per annum. At the Company&#146;s option, until September&nbsp;30, 2023, a portion of the interest payments may be paid in kind, and thereby added to the principal. The Term
Loans will be entirely payable at maturity. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The obligations under the Loan Agreement are secured, subject to customary permitted liens and
other agreed upon exceptions, by a perfected security interest in (i)&nbsp;all tangible and intangible assets of the Company and any future subsidiary guarantors, except for certain customary excluded property, and (ii)&nbsp;all of the capital stock
owned by the Company and such future subsidiary guarantors (limited, in the case of the stock of certain <FONT STYLE="white-space:nowrap">non-U.S.</FONT> subsidiaries of the Company and certain U.S. subsidiaries substantially all of whose assets
consist of equity interests in <FONT STYLE="white-space:nowrap">non-U.S.</FONT> subsidiaries, to 65% of the capital stock of such subsidiaries, subject to certain exceptions). The obligations under the Loan Agreement will be guaranteed by each of
the Company&#146;s future direct and indirect subsidiaries (other than certain <FONT STYLE="white-space:nowrap">non-U.S.</FONT> subsidiaries of the Company and certain U.S. subsidiaries substantially all of whose assets consist of equity interests
in <FONT STYLE="white-space:nowrap">non-U.S.</FONT> subsidiaries, subject to certain exceptions). </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Loan Agreement contains customary
affirmative covenants applicable to the Company and its subsidiaries, including covenants regarding the payment of taxes and other obligations, maintenance of insurance, reporting requirements and compliance with applicable laws and regulations.
Further, the Loan Agreement contains customary negative covenants limiting the ability of the Company and its subsidiaries, among other things, to incur future debt, grant liens, make investments, make acquisitions, make certain restricted payments
and sell assets, subject to certain exceptions. In addition, the Loan Agreement requires the Company to comply with a daily minimum liquidity covenant and an annual revenue requirement based on the sales of
<FONT STYLE="white-space:nowrap">HEPLISAV-B.</FONT> </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Term Loans may be prepaid by the Company at any time. If the Term Loans are
prepaid prior to the second anniversary of the initial borrowing date, they are subject to a prepayment premium of up to 7.00% of the principal amount prepaid, depending on the date of prepayment. Upon the occurrence of certain events relating to
asset sales above a specified threshold or in the event of a change of control transaction or sale of all or substantially all of the assets and/or rights related to <FONT STYLE="white-space:nowrap">HEPLISAV-B,</FONT> the Company may also be
required to prepay all or a part of the outstanding principal and interest under the Loan Agreement in addition to the prepayment premium described above on the principal amount prepaid. Upon payment of the Term Loans at maturity or prepayment on
any earlier date, a backend facility fee will apply to the amounts paid or prepaid. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Loan Agreement provides for events of default,
including: (i)&nbsp;failure by the Company to timely make payments of principal due under the Loan Agreement; (ii)&nbsp;failure by the Company to make payments of interest or any other obligation under the Loan Agreement and other related agreements
within three business days of it being due and payable; (iii)&nbsp;misrepresentations or misstatements in any representation or warranty by the Company or any subsidiary guarantor (each a &#147;Loan Party&#148;) when made; (iv)&nbsp;failure by the
Loan Parties to comply with the covenants under the Loan Agreement and other related agreements; (v)&nbsp;defaults in respect of payment of other indebtedness of the Company and its subsidiaries above a certain amount; (vi)&nbsp;certain events of
default or material breaches by any Loan Party under certain material contracts; (vii)&nbsp;events of default or material breaches of other indebtedness of the Loan Parties above a certain amount; (viii)&nbsp;insolvency or bankruptcy-related events
with respect to the Company or any of its subsidiaries; (ix)&nbsp;certain undischarged judgments or unsatisfied settlements against the Company or its subsidiaries above a specified amount; (x)&nbsp;certain ERISA-related events with respect to the
Company or its subsidiaries above a specified amount; (xi)&nbsp;the occurrence of a Change of Control (as defined in the Loan Agreement), (xii) the occurrence of a Material Adverse Change (as defined in the Loan Agreement), (xiii) certain security
interests or liens under the loan documents ceasing to be, or being asserted by any Loan Party not to be, in full force and effect above a specified amount, (xiv)&nbsp;certain injunctions prohibiting the sale of certain of the Company&#146;s
products and (xv)&nbsp;certain <FONT STYLE="white-space:nowrap">de-listing</FONT> events with respect to the NYSE or NASDAQ. If one or more events of default occurs and continues beyond any applicable cure period, the Agent may, with the consent of
the lenders holding a majority of the Term Loans and commitments under the facilities, or will, at the request of such lenders, terminate the commitments of the lenders to make further Term Loans available and declare all of the obligations of the
Loan Parties to be immediately due and payable. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing summary of the Loan Agreement does not purport to be complete and is qualified in
its entirety by reference to the Loan Agreement, a copy of which the Company intends to file as an exhibit to its quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarter ended March&nbsp;31, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;20, 2018, the Company issued a press release announcing the entry into the Loan Agreement. A copy of the press release is
filed herewith as Exhibit 99.1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Sublicense Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;16, 2018, the Company entered into a Sublicense Agreement (the &#147;Sublicense Agreement&#148;) with Merck Sharpe&nbsp;&amp;
Dohme Corp. (the &#147;Sublicensor&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Sublicense Agreement grants to the Company, under certain
<FONT STYLE="white-space:nowrap">non-exclusive</FONT> U.S. patent rights controlled by the Sublicensor which relate to recombinant production of Hepatitis B surface antigen, the right to manufacture, use, offer for sale, sell and import <FONT
STYLE="white-space:nowrap">HEPLISAV-B,</FONT> adult Hepatitis B Vaccine, to prevent hepatitis B and diseases caused by hepatitis B in the United States and includes the right to grant further sublicenses. In consideration, the Company is obliged to
make the following three payments: $7.0&nbsp;million to the end of March 2018 and $7.0&nbsp;million in the first quarter of each of 2019 and 2020. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Sublicense Agreement continues until the expiration of the last of the specified patents controlled by the Sublicensor and completion of
the Company&#146;s payment obligations. The Sublicense Agreement may be terminated by either party if the other party becomes bankrupt or insolvent or if the Company commits a material breach, subject to a customary cure period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing summary of the Sublicense Agreement does not purport to be complete and is qualified in its entirety by reference to the
Sublicense Agreement, a copy of which the Company intends to file as an exhibit to its quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarter ended March&nbsp;31, 2018. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.03</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Creation of a Direct Financial Obligation or an Obligation under an <FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Arrangement of a Registrant. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information in Item 1.01 above is incorporated by reference into this Item 2.03. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;3.03</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Material Modifications to Rights of Security Holders. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information in Item 1.01
above is incorporated by reference into this Item 3.03. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Exhibits</U> </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><A HREF="d502638dex991.htm">Press release, dated February&nbsp;20, 2018 </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">Dynavax Technologies Corporation</TD></TR>
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<TD VALIGN="top">Date: February&nbsp;20, 2018</TD>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ STEVEN N. GERSTEN</P></TD></TR>
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<TD VALIGN="top">Steven N. Gersten</TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Vice President, General Counsel and</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chief
Ethics and Compliance Officer</P></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<IMG SRC="g502638g0220034552799.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dynavax Secures $175 Million in <FONT STYLE="white-space:nowrap">Non-Dilutive</FONT> Debt Financing
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Proceeds to be Used to Commercialize <FONT STYLE="white-space:nowrap">HEPLISAV-B&#153;</FONT> [Hepatitis B Vaccine (Recombinant), Adjuvanted] in
United States and Advance Company&#146;s Immuno-Oncology Product Candidates </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Company Deploying
<FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> Field Sales Team </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>BERKELEY, Calif. &#150; February</B><B></B><B>&nbsp;20, 2018</B> <B>&#150;</B>
Dynavax Technologies Corporation (NASDAQ: DVAX) today announced that it has closed on a $175&nbsp;million <FONT STYLE="white-space:nowrap">non-dilutive</FONT> term loan agreement with CRG LP, a healthcare focused investment firm. Dynavax will
receive $100&nbsp;million in a first tranche and up to an additional $75&nbsp;million may be borrowed in a second tranche at Dynavax&#146;s option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;This <FONT STYLE="white-space:nowrap">non-dilutive</FONT> financing, together with our $192&nbsp;million in cash at December&nbsp;31, 2017, will enable
us to implement our commercialization plan for <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> in the United States, and expand and advance clinical studies of our immuno-oncology product candidates,&#148; said Michael Ostrach, chief financial
officer of Dynavax. &#147;Our strong cash position will support the launch of our <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> field sales team next week and the phase 3 clinical trial of <FONT STYLE="white-space:nowrap">SD-101</FONT> and
additional Phase 2 trials planned to start later this year.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynavax will receive $100&nbsp;million in a first tranche and up to an additional
$75&nbsp;million may be funded at Dynavax&#146;s option in a second tranche at any time upon notice delivered no later than June&nbsp;30, 2019, in an amount determined by the company in increments of $25&nbsp;million. Interest on the term loans will
accrue at a rate of 9.5% per annum with the principal to be repaid at maturity on December&nbsp;29, 2023. The principal can be repaid at any time after the second anniversary with no additional prepayment fees. Further information on the loan
arrangement is available in the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> to be filed by the Company with the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;With a newly approved product that can help address unmet medical needs and a promising immuno-oncology platform, Dynavax is the archetype of companies
we seek to support,&#148; said Luke D&uuml;ster, Managing Director of CRG. &#147;This transaction demonstrates our confidence in <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> and Dynavax&#146;s commercial strategy and ability to continue to
translate its innovative technology into important commercial products.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Commercialization of <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT>
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> was approved by the U.S. Food and Drug Administration (FDA) in November 2017 for the prevention of
infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older. Dynavax commercially launched <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> in the United States in January 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company is seeking a recommendation from the Centers for Disease Control and Prevention&#146;s (CDC) Advisory Committee on Immunization Practices (ACIP)
to add <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> to the adult vaccination schedule for the prevention of hepatitis B. The ACIP recommendation is required to obtain access to <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> through medical
policies that only offer vaccinations included in the CDC&#146;s schedule. The ACIP meeting is scheduled for February&nbsp;21, during which the committee will determine its recommendation. The company will deploy its field sales team on
February&nbsp;26, targeting institutions, the largest independent accounts, and influential accounts that are current hepatitis B vaccinators. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Advancement of Immuno-Oncology Pipeline </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynavax continues to expand its TLR based immuno-oncology platform through the execution of ongoing clinical trials and preclinical work on multiple compounds
and combination therapies. The company&#146;s lead program, <FONT STYLE="white-space:nowrap">SD-101,</FONT> has shown promising initial clinical data with the potential to significantly enhance the immune response against cancer. Data from its Phase
2 trial in melanoma and head and neck squamous cell carcinoma have been submitted in separate abstracts to upcoming medical conferences. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About <FONT
STYLE="white-space:nowrap">HEPLISAV-B</FONT> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> is an adult hepatitis B vaccine that combines
hepatitis B surface antigen with Dynavax&#146;s proprietary Toll-like receptor (TLR) 9 agonist to enhance the immune response. Dynavax has worldwide commercial rights to <FONT STYLE="white-space:nowrap">HEPLISAV-B.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information about <FONT STYLE="white-space:nowrap">HEPLISAV-B,</FONT> visit <U>http://heplisavb.com/</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Indication and Use </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> is indicated for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18
years and older. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important Safety Information (ISI) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Do not administer <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> to individuals with a history of severe allergic reaction (e.g., anaphylaxis) after a
previous dose of any hepatitis B vaccine or to any component of <FONT STYLE="white-space:nowrap">HEPLISAV-B,</FONT> including yeast. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Appropriate medical
treatment and supervision must be available to manage possible anaphylactic reactions following administration of <FONT STYLE="white-space:nowrap">HEPLISAV-B.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Immunocompromised persons, including individuals receiving immunosuppressant therapy, may have a diminished immune response to
<FONT STYLE="white-space:nowrap">HEPLISAV-B.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hepatitis B has a long incubation period. <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> may not
prevent hepatitis B infection in individuals who have an unrecognized hepatitis B infection at the time of vaccine administration. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The most common
patient reported adverse reactions reported within 7 days of vaccination were injection site pain (23% to 39%), fatigue (11% to 17%) and headache (8% to 17%). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For full <B>Prescribing Information</B> for <FONT STYLE="white-space:nowrap">HEPLISAV-B,</FONT> <U>click here</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About <FONT STYLE="white-space:nowrap">SD-101</FONT> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="white-space:nowrap">SD-101,</FONT> the Company&#146;s lead clinical candidate, is a proprietary, second-generation, Toll-like receptor 9 (TLR9) agonist <FONT STYLE="white-space:nowrap">CpG-C</FONT> class oligodeoxynucleotide. Dynavax is
evaluating this intratumoral TLR9 agonist in several clinical studies to assess its safety and activity, including a Phase 2 study in combination with Keytruda<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> (pembrolizumab), an <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">anti-PD-1</FONT></FONT> therapy, in patients with metastatic melanoma and in patients with head and neck squamous cell cancer, in a clinical collaboration with Merck. Dynavax maintains all
commercial rights to <FONT STYLE="white-space:nowrap">SD-101.</FONT> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Dynavax </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynavax is a fully-integrated biopharmaceutical company focused on leveraging the power of the body&#146;s innate and adaptive immune responses through
toll-like receptor (TLR) stimulation. Dynavax discovers and develops novel vaccines and immuno-oncology therapeutics. The Company&#146;s first commercial product, <FONT STYLE="white-space:nowrap">HEPLISAV-B,</FONT> a hepatitis B vaccine for adults,
is approved in the United States. Dynavax&#146;s lead immunotherapy product, <FONT STYLE="white-space:nowrap">SD-101,</FONT> is an investigational cancer immunotherapeutic currently being evaluated in Phase 1/2 studies and its second cancer
immunotherapeutic, DV281, is in Phase 1 development. For more information, visit <U>www.dynavax.com</U>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About CRG </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CRG is a premier healthcare-focused investment firm that has committed more than&nbsp;$3.0 billion&nbsp;of capital across more than 50 investments. The firm
seeks to commit between&nbsp;$20 to $300 million&nbsp;in each investment across the healthcare spectrum, including: medical devices, biopharmaceuticals, tools&nbsp;&amp; diagnostics, services and information technology. CRG provides growth capital
in the form of long-term debt and equity to support innovative, commercial-stage healthcare companies that address large, unmet medical needs. The firm partners with public and private companies to provide flexible financing solutions and
world-class support to achieve exceptional growth objectives with minimal dilution. CRG maintains offices in Boulder,&nbsp;Houston&nbsp;and&nbsp;New York. For more information, please visit&nbsp;<U>www.crglp.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains
forward-looking statements, including statements regarding the commercial launch of <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> and whether existing cash and the funds available under the term loan agreement will be sufficient to fund the
launch of <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> and continued development of our pipeline. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including the potential
for success of <FONT STYLE="white-space:nowrap">HELPISAV-B</FONT> and our current pipeline; whether the company will be able to continue building the commercial infrastructure required to launch <FONT STYLE="white-space:nowrap">HEPLISAV-B;</FONT>
whether payers will provide timely reimbursement for <FONT STYLE="white-space:nowrap">HEPLISAV-B;</FONT> whether the CDC&#146;s Advisory Committee on Immunization Practices (ACIP) will add <FONT STYLE="white-space:nowrap">HEPLISAV-B</FONT> to its
adult vaccination schedule during its February 2018 meeting, or at all; whether potential claims against us, including those based on patent rights of others, will result in an injunction against sales or otherwise impact commercialization and
sales; whether we can timely provide adequate clinical supplies; initiation, enrollment and completion of clinical trials of <FONT STYLE="white-space:nowrap">SD-101</FONT> and our other investigational compounds; the results of clinical trials and
the impact of those results on the initiation or continuation of subsequent trials and issues arising in the regulatory process; the ability to successfully develop and commercialize <FONT STYLE="white-space:nowrap">SD-101;</FONT> and whether or not
Dynavax and parties with whom we are collaborating may reach any future agreement on further studies or a more extensive collaboration beyond the clinical trials contemplated under existing agreements. For a further description of the risks and
uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Dynavax in general, see risks detailed in the &#147;Risk Factors&#148; section of our most
recent current periodic report filed with the SEC. These statements represent our estimates and assumptions only as of the date of this press release. We do not undertake any obligation to update publicly any such forward-looking statements, even if
new information becomes available. Information on Dynavax&#146;s website at <U>www.dynavax.com</U> is not incorporated by reference in our current periodic reports with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"># # # </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David Burke</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,&nbsp;IR&nbsp;&amp;&nbsp;Corporate&nbsp;Communications</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">510.665.7269</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><U>dburke@dynavax.com</U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media Contact:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rachel St. Martin</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">W2O wcg</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">646.894.5757</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><U>rstmartin@w2ogroup.com</U></P></TD></TR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
