Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 267

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 267
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4. Cash provided by investing activities during the nine months ended September 30, 2025 included $135.6 million of net proceeds from marketable securities compared to $38.5 million of net purchases of marketable securities for the nine months ended September 30, 2024. Net cash provided by investing activities during the nine months ended September 30, 2025, was partially offset by $6.6 million of net purchases of property and equipment.

During the nine months ended September 30, 2025, net cash used in financing activities was $103.9 million compared to $3.1 million of cash used in financing activities for the nine months ended September 30, 2024. Cash used in financing activities for the nine months ended September 30, 2025, included $80.9 million of payments for debt extinguishment, $101.2 million of payments for the repurchase of common stock, and $11.8 million for the payments of taxes related to net share settlement of RSUs, partially offset by $35.2 million of net proceeds from the issuance of the 2030 Notes net of debt issuance costs, $46.6 million of proceeds from the unwinding of capped call options, and $8.3 million of proceeds received from the exercise of options and from common stock purchases under our employee stock purchase plan. Cash used in financing activities for the nine months ended September 30, 2024, included $8.8 million for the payments of taxes related to net share settlement of RSUs, partially offset by proceeds received from the exercise of options and from purchases under our employee stock purchase plan for $5.7 million combined. 

Contractual Obligations

On March 13, 2025, we issued $225.0 million of our 2.00% 2030 Notes as part of the Refinancing Transaction. Following the completion of the Refinancing Transaction, the total principal balance of our outstanding Convertible Notes as of September 30, 2025, was $261.0 million net of debt discount of $4.2 million, which comprised $225.0 million principal amount of the 2030 Notes and $40.2 million principal amount of the remaining 2026 Notes. The 2026 Notes bear interest at a rate of 2.50% per year, payable semiannually in arrears on May 15 and November 15 of each year. The 2030 Notes bear interest