Company: DVAX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001029142-25-000117
Chunk: 231

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 231
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 Notes. The Capped Calls are expected to offset the potential dilution to our common stock as a result of any conversion of the 2026 Notes, subject to a cap based on the cap price.As part of the Refinancing Transaction completed in March 2025, we unwound a portion of the Capped Calls. As part of the unwind, we received $46.6 million in cash, which was used to partially fund the cash payment associated with the Refinancing Transaction and the repurchase of our common stock. As of June 30, 2025, following the partial unwind, Capped Calls covering approximately 3,841,222 shares of common stock remain outstanding.For accounting purposes, the cash received from the unwind of the Capped Calls was recorded as an increase to additional paid-in capital within the condensed consolidated statements of stockholders’ equity.

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8. Segment Reporting

We operate in one operating segment that is focused on the discovery, development, and commercialization of innovative vaccines. Our Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The following table presents segment revenue, measures of our segment’s profit or loss, and significant segment expenses (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Total revenues$95,442 $73,795 $163,606 $124,584 Less (add) (1):Cost of sales - product14,035 11,985 27,804 22,952 Research and development16,619 14,950 35,996 28,478 Selling and marketing23,838 24,359 48,408 49,799 General and administrative26,521 17,303 49,629 35,928 Other segment items (2)(4,292)(6,188)79,147 (15,238)Segment income (loss) (3)$18,721 $11,386 $(77,378)$2,665 (1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.(2)Other segment items includes the net of: bad debt expense, interest income, interest expense, sublease income, loss on debt extinguishment, other expenses, and provision for income taxes, as presented on the