Dynavax soars as French drug maker Sanofi to acquire co

Vaccine developer Dynavax's DVAX.O shares rise 37.6% to $15.32 premarket after French drug maker Sanofi SASY.PA says it will buy co for $2.2 bln

Sanofi says it will offer $15.5 per share in cash, at a premium of 39.3% to DVAX's last close of $11.13

DVAX had a market cap of $1.31 bln as of Tuesday's close - LSEG data

Acquisition will be funded using available cash, and will have no impact on FY25 financial outlook - Sanofi

DVAX's adult hepatitis B vaccine, and shingles vaccine currently in development will be added to Sanofi's pipeline

3 of 4 brokerages covering the stock rate it "buy" or higher and 1 "sell" -- LSEG data

As of last close, DVAX down nearly 13% YTD