Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 238

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 238
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Total revenues$67,806 $358 $68,164 $49,501 $1,289 $50,790 Revenues from Major Customers and Collaboration PartnersHEPLISAV-B product sales in the U.S. are to certain wholesalers and specialty distributors whose principal customers include integrated delivery networks, retail pharmacies, independent hospitals and clinics, public health clinics and prisons, the Department of Defense, and the Department of Veterans Affairs. HEPLISAV-B product sales in Germany are to one distributor. The following table summarizes HEPLISAV-B product revenue from each of our three largest customers (as a percentage of total HEPLISAV-B net product revenue): Three Months EndedMarch 31, 20252024Largest customer31 %27 %Second largest customer20 %19 %Third largest customer18 %18 %Contract BalancesThe following table summarizes balances and activities in HEPLISAV-B product revenue allowance and reserve categories for the three months ended March 31, 2025 (in thousands): Balance atBeginningof PeriodProvisionsrelated tocurrentperiod salesCredit orpaymentsmade duringthe periodAdjustments (3)Balanceat End ofPeriodThree months ended March 31, 2025:Accounts receivable reserves (1)$9,317 $19,695 $(19,034)$21 $9,999 Revenue reserve accruals (2)$31,479 $12,485 $(13,420)$(4,570)$25,974 (1)Reserves are for chargebacks, discounts and other fees.(2)Accruals are for returns, rebates and other fees.(3)Adjustments for $4.6 million in connection to revenue reserve accruals primarily result from a change in estimate for product returns.When we perform services under our agreement with the DoD, we recognize product revenue and a corresponding contract asset as our right to consideration is conditioned on something other than the passage of time. See 

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Note 6 for further discussion. The following table summarizes balances and activities in our contract asset account (in thousands): Balance atBeginningof PeriodAdditionsSubtractions Balanceat End ofPeriodThree months ended March 31, 2025Contract asset, included in other current assets (1)$351 $2,847 $(1,613)$1,585 Contract asset, included in other assets (long term) (2)$71,307