Delaware
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33-0728374
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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Mr. Kessel was deemed not to be independent by the Board of Directors in the Company's Definitive Proxy Statement filed on April 20, 2011 with the U.S. Securities and Exchange Commission (the "SEC"). Nasdaq confirmed this in a letter received by Dynavax on May 13, 2011. Dynavax has 45 days to submit a plan to Nasdaq to regain compliance. The Company expects that the replacement of Mr. Kessel with the appointment of Dr. Cano, a second independent director on the Committee, will cure this non-compliance within the timeframe required by Nasdaq.
Statements herein relating to future performance, conditions or strategies and other business matters, including expectations regarding the timing of curing the non-compliance with Nasdaq Listing Rule 5605(e) are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Dynavax cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including Dynavax's ability to attract qualified individuals to serve on its Board of Directors. Further information on the factors and risks that could affect Dynavax's business, financial conditions and results of operations, is contained in Dynavax's filings with the SEC, which are available at www.sec.gov. These forward-looking statements speak only as of the date of this Current Report on Form 8-K.
Dynavax Technologies Corporation
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Date: May 19, 2011
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By:
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/s/ Michael S. Ostrach
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Michael S. Ostrach
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Vice President
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