Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 303

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 303
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 progress our clinical and preclinical stage pipeline, we expect research and development expenses to continue to represent a substantial portion of our expenses and to continue to increase, both in dollar amount and proportion of total expense, in future years. 

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of compensation and related costs for our commercial support personnel, medical education professionals, and personnel in executive and other administrative functions, including legal, finance and information technology; costs for outside services such as sales and marketing, post-marketing studies of HEPLISAV-B, accounting, commercial development, consulting, business development, investor relations and insurance; legal costs that include corporate and patent-related expenses; allocated facility costs and non-cash stock-based compensation.

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Table of Contents

The following is a summary of our selling, general and administrative expenses (in thousands, except for percentages): 

Selling, General and Administrative:Three Months EndedMarch 31,Increase (Decrease) from 2024 to 202520252024$%Compensation and related personnel costs$17,907 $18,659 $(752)(4 %)Outside services16,482 13,479 3,003 22 %Facility costs3,319 3,007 312 10 %Non-cash stock-based compensation9,949 8,920 1,029 12 %Total selling, general and administrative$47,657 $44,065 $3,592 8 %     

Selling, general and administrative expenses increased by $3.6 million for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. The increase is driven by professional consulting and legal expenses of $3.0 million incurred in the first quarter of 2025 primarily related to our ongoing proxy contest, and a slight increase of $0.3 million in cash and non-cash compensation costs primarily due to continued investments in personnel across commercial and administrative functions to support HEPLISAV-B and pipeline growth. We expect to incur additional costs related to public relations, printing and legal fees in connection with our ongoing proxy contest.

Bad Debt Expense

During the three months ended March 31, 2025, we recorded an allowance for doubtful accounts of approximately $11.0 million relating to the contract asset recognized for Clover. This determination was based on our evaluation of credit risk associated with Clover, driven by the formal termination by