Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 309

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 309
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ables, net driven by higher sales, an increase of $8.3 million in inventories primarily related to higher number of batches produced, an increase of $5.5 million in prepaid assets and other current assets primarily related to interest receivable, prepaid taxes, and prepaid insurance, a decrease of $4.7 million in accounts payable, and a decrease of $7.4 million in accrued and other liabilities. By comparison, during the three months ended March 31, 2024, we used $16.7 million of cash from our operations, which consisted of i) a net loss of $8.7 million, ii) $18.2 million of net adjustments from non-cash items, which included depreciation and amortization, amortization of right-of-use assets, inventory write off, sublease termination loss, accretion of discounts on marketable securities, stock-based compensation expense, non-cash interest expense, and iii) approximately $26.1 million net changes from operating assets and liabilities, which included an increase of $9.8 million in inventories primarily related to higher number of batches produced, and an increase of $4.7 million in prepaid assets and other current assets primarily related to prepaid taxes. Net cash used in operating activities is impacted by changes in our operating assets and liabilities due to timing of cash receipts and expenditures.

During the three months ended March 31, 2025, net cash provided by investing activities was $6.9 million compared to $2.8 million of cash provided by investing activities for the three months ended March 31, 2024. Cash provided by investing activities during the three months ended March 31, 2025 included $10.8 million of net proceeds from marketable securities compared to $3.6 million of net proceeds from marketable securities for the three months ended March 31, 2024. Net cash provided by investing activities during the three months ended March 31, 2025, was partially offset by $3.9 million of net purchases of property and equipment.

During the three months ended March 31, 2025, net cash used in financing activities was $31.9 million compared to $4.2 million of cash used in financing activities for the three months ended March 31, 2024. Cash used in financing activities for the three months ended March 31, 2025, included $80.9 million of payments for debt 

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extinguishment, $29.