NEW YORK, May 23 (Reuters) - Proxy advisory firm

Institutional Shareholder Services urged Dynavax Technologies ( DVAX )

shareholders on Friday to reelect all its company

directors instead of backing life sciences investment firm Deep

Track Capital's four nominees.

"Vote for all four management nominees," ISS wrote in a note

to clients that was seen by Reuters. "The dissident has failed

to present a compelling case that change is necessary at this

meeting."

Investors will vote on June 11. Recommendations from ISS and

its rivals Glass Lewis and Egan-Jones often help guide

shareholders' decisions.

Deep Track Capital is pushing on with a proxy fight and

wants new directors to prioritize development of the company's

hepatitis B vaccine instead of pursuing new acquisitions.

The investment firm is Dynavax's ( DVAX ) second largest shareholder

with a nearly 15% stake. It wants Dynavax ( DVAX ) to focus exclusively

on growing Heplisav, a vaccine designed to prevent the hepatitis

B infection that can lead to chronic liver disease and death,

into an asset that a large pharma company would want to own.

While ISS recommended against Deep Track's nominees, it

acknowledged certain challenges. "There has been a stall in

momentum," it said in a report, but noted that "the market has

in no way rebuked the company's strategy."

Dynavax's ( DVAX ) stock price has fallen 18% over the last 12

months.

Representatives for Dynavax ( DVAX ) and Deep Track did not

immediately respond to requests for comment.