Dynavax Announces Proposed Public Offering of Common Stock

Dynavax Announces Proposed Public Offering of Common Stock 
BERKELEY, CA -- (Marketwire) -- 05/08/12 --   Dynavax Technologies
Corporation (NASDAQ: DVAX) today announced that it intends to offer
and sell shares of its common stock, subject to market and other
conditions, in an underwritten public offering. Dynavax also expects
to grant the underwriters a 30-day option to purchase additional
shares of its common stock to cover over-allotments, if any. All of
the shares in the offering are being offered by Dynavax. 
J.P. Morgan Securities LLC is acting as sole book-running manager for
the offering. Cowen and Company, LLC is acting as co-manager. 
The securities described above are being offered by Dynavax pursuant
to two shelf registration statements previously filed with and
declared effective by the Securities and Exchange Commission (the
"SEC"). Preliminary prospectus supplements related to the offering
will be filed with the SEC and will be available on the SEC's website
located at http://www.sec.gov. Copies of the preliminary prospectus
supplements and the accompanying prospectuses relating to this
offering, when available, may be obtained from J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by telephone at 1-866-803-9204. 
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction. 
About Dynavax  
Dynavax Technologies Corporation, a clinical-stage biopharmaceutical
company, discovers and develops novel products to prevent and treat
infectious and inflammatory diseases. The Company'
s lead product
candidate is HEPLISAV(TM), a Phase 3 investigational adult hepatitis
B vaccine designed to provide higher and earlier protection with
fewer doses than currently licensed vaccines.  
Forward-Looking Statements  
This press release contains "forward-looking statements," including
those relating to Dynavax's expectations with respect to its proposed
public offering. Actual results may differ materially from those set
forth in this press release due to the risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as those
inherent in our business, including whether successful clinical and
regulatory development and approval of HEPLISAV and our process for
its manufacture can occur in a timely manner or without significant
additional studies or difficulties or delays; whether our studies can
support registration for commercialization of HEPLISAV; the results
of clinical trials and the impact of those results on the initiation
and completion of subsequent trials and issues arising in the
regulatory process, including whether the BLA will be accepted for
filing and if it is accepted, approved; our ability to obtain
additional financing to support the development and commercialization
of HEPLISAV and our other operations; possible claims against us
based on the patent rights of others; and other risks detailed in the
"Risk Factors" section of our current periodic reports with the SEC,
including in our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2012. We undertake no obligation to revise or update
information herein to reflect events or circumstances in the future,
even if new information becomes available.       
Contact:      
Michael Ostrach      
Vice President and Chief Business Officer       
510-665-7257      
mostrach@dynavax.com