10:51 AM EST, 02/19/2025 (MT Newswires) -- Dynavax Technologies' ( DVAX ) shareholder Deep Track Capital nominated four independent directors to the biopharmaceutical company's board to focus on key hepatitis B vaccine Heplisav and shift away from acquisitions.

"Focusing on Heplisav could result in nearly $2 billion of cash being returned to shareholders by the end of 2030," Deep Track Capital said Wednesday in a statement. The investment firm said it owns 13.53% of Dynavax ( DVAX ).

A Deep Track letter to Dynavax ( DVAX ) shareholders criticized the biopharmaceutical company's board's "poor governance, reactive entrenchment maneuvers and unwillingness to work constructively."

Brett Erkman, Jeffrey Farrow, Michael Mullette and Donald Santel were nominated as Dynavax ( DVAX ) directors, Deep Track said.

Dynavax ( DVAX ) didn't immediately respond to a request for comment from MT Newswires.

Shares of the company rose 3.1% in recent trading.

Price: 13.33, Change: +0.40, Percent Change: +3.09