Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 249

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 249
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 continued gains in market share. Our annual revenue has continued to grow significantly since the recommendation was made, primarily as a result of our successful efforts to capture a greater share of an expanding market.

We are advancing a pipeline of differentiated product candidates that leverage our CpG 1018 adjuvant to develop improved vaccines in indications with unmet medical needs. These programs include vaccine candidates under development for shingles and plague and additional vaccine programs in preclinical development. Additionally, we are working to advance product candidates utilizing our CpG 1018 adjuvant through discovery efforts and preclinical and clinical collaborations with third-party research organizations.

In addition, we manufacture and have supplied in the past, and could supply in the future, our CpG 1018 adjuvant to a number of global customers, including companies engaged in the development and manufacture of COVID-19 vaccines across a variety of vaccine platforms utilizing CpG 1018 adjuvant. While we did not recognize any CpG 1018 adjuvant revenue in 2024 or during the three and nine months ended September 30, 2025, we could see new demand in the future if our collaborators work through their inventory on hand and need additional supply, or new programs utilizing our adjuvant advance to later stages up to and including commercialization. However, long-term demand for CpG 1018 adjuvant supporting COVID-19 or other vaccines will be highly dependent on each customer’s ability to commercialize in respective territories and geographies where their respective COVID-19 or other vaccines are approved for use.

In November 2025, we entered into an agreement with Vaxart, Inc. (“Vaxart”), under which Vaxart granted us an exclusive, worldwide license to develop and commercialize oral vaccines based on Vaxart’s delivery platform (the “Vaxart Platform”) for SARS-CoV-2, SARS, MERS and other coronavirus infections and respiratory illnesses caused by coronavirus infections, including COVID-19 (“Vaxart Agreement”). Vaxart’s oral pill COVID-19 vaccine candidate is currently in a Phase 2b clinical trial (the “COVID-19 Vaccine Candidate”) funded under an agreement between Vaxart and Advanced Technology International, the Rapid Response Partnership Vehicle’s Consortium Management Firm funded by BARDA (the U.S. Biomedical Advanced Research and Development Authority) as part of Project NextGen. See Note 14 – 

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Subsequent Events, in the accompanying notes to the unaudited condensed consolidated financial statements