Company: DVAX
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001029142-25-000049
Chunk: 5

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 5
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 as shown in multiple clinical trials in our HEPLISAV-B and COVID-19 vaccine collaboration programs. 

Key 2024 Business and Financial Highlights

Drive Growth of HEPLISAV-B [Hepatitis B Vaccine (Recombinant), Adjuvanted] 

HEPLISAV-B vaccine is the first and only adult hepatitis B vaccine approved in the U.S. and EU that enables series completion with only two doses in one month. Hepatitis B vaccination is universally recommended for adults aged 19-59 in the U.S.

•We recognized $268.4 million of HEPLISAV-B product revenue during the year ended December 31, 2024, representing a 26% increase compared to the year ended December 31, 2023. This increase was primarily driven by an increase in the adult hepatitis B vaccine market and HEPLISAV-B market share gains in the U.S. in 2024, compared to 2023.

•HEPLISAV-B estimated total market share in the U.S. increased to approximately 44% at the end of 2024, compared to approximately 42% at the end of 2023.

•We continue to expect the hepatitis B adult vaccine market in the U.S. to expand to a peak of over $900.0 million in annual sales by 2030, with HEPLISAV-B expected to achieve at least 60% total market share. Additionally, we believe the HEPLISAV-B U.S. market opportunity will remain substantial beyond 2030 due to the ongoing penetration of the unvaccinated eligible adult population, observed revaccination practices by healthcare providers, and continued gains in market share. 

•We generated $66.5 million in cash from operating activities during the year ended December 31, 2024 and ended the year with $713.8 million in cash and cash equivalents and marketable securities.

•We reported a net income of $27.3 million during the year ended December 31, 2024.

Advance Clinical Pipeline Leveraging our Proven Adjuvant Technology

We are advancing a pipeline of product candidates that leverage our CpG 1018 adjuvant, which has demonstrated its ability to enhance the immune response with a favorable tolerability profile in a wide range of clinical trials and real-world commercial use.

Shingles vaccine program:

Z-1018 is an investigational vaccine candidate being developed for the prevention of shingles in adults aged 50 years and older.

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