Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 222

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 222
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 on the lowest level of input that is significant to the fair value measurements. We review the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain assets or liabilities within the fair value hierarchy. There were no transfers between Level 1, 2 and 3 during the three and nine months ended September 30, 2025. The carrying amounts of cash equivalents, accounts and other receivables, accounts payable and accrued liabilities are considered reasonable estimates of their respective fair value because of their short-term nature.

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Recurring Fair Value Measurements The following table represents the fair value hierarchy for our financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis (in thousands): Level 1Level 2Level 3TotalSeptember 30, 2025   Assets   Money market funds$142,383 $- $- $142,383 U.S. treasuries- 201,935 - 201,935 U.S. government agency securities- 69,317 - 69,317 Corporate debt securities- 216,316 - 216,316 Total assets$142,383 $487,568 $- $629,951    Level 1Level 2Level 3TotalDecember 31, 2024   Assets   Money market funds$83,726 $- $- $83,726 U.S. treasuries- 199,879 - 199,879 U.S. government agency securities- 158,871 - 158,871 Corporate debt securities- 259,201 - 259,201 Total assets$83,726 $617,951 $- $701,677 Money market funds are highly liquid investments and are actively traded. The pricing information on these investment instruments is readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 of the fair value hierarchy.U.S. treasuries, U.S. government agency securities and corporate debt securities are measured at fair value using Level 2 inputs. We review trading activity and pricing for these investments as of each measurement date. When sufficient quoted pricing for identical securities is not available, we use market pricing and other observable market inputs for similar securities obtained from various third-party data providers. These inputs represent quoted prices