Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 255

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 255
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(1)In September 2021, we entered into an agreement with the DoD for the development of a recombinant plague vaccine utilizing CpG 1018 adjuvant. Under the agreement, we conducted a Phase 2 clinical trial and studies combining our CpG 1018 adjuvant with the DoD's rF1V vaccine. We are being fully reimbursed by the DoD for the costs of this study, which is recorded in other revenue in our condensed consolidated statements of operations. 

Research and development expenses increased by $5.8 million for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. The increase was primarily driven by an increase of $3.7 million in Shingles program expenses related to the ongoing Phase 1/2 clinical trial, an increase of $2.8 million related to the expected initiation of our phase 1/2 clinical study on Pandemic flu, and an increase of $2.0 million related to our IND-enabling study on Lyme disease initiated in the first quarter of 2025, partially offset by a decrease of $1.5 million in connection with the discontinuation of the Tdap program announced in November 2024, and a $1.2 million decrease incurred on other preclinical stage assets.

As we continue to 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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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 %)