Dynavax raises $75M follow-on

Dynavax Technologies Corp. (NASDAQ:DVAX) fell $1.35 to $15.85 on Thursday after the company raised $75 million through the sale of 5 million shares at $15 in a follow-on announced late Wednesday. The price is a 20% discount to Dynavax's close of $18.65 on Tuesday, when it proposed to raise $125 million after trading hours.

The offering was underwritten by Cowen, RBC Capital Markets, William Blair and Cantor Fitzgerald...