Company: DVAX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001029142-25-000117
Chunk: 233

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 233
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arian Nordic will retain the distribution rights for HEPLISAV-B in Germany through April 2026, after which Dynavax will regain the commercialization rights. We do not currently market HEPLISAV-B outside the U.S.The following table summarizes HEPLISAV-B product revenue from each of our three largest customers (as a percentage of total HEPLISAV-B net product revenue): Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Largest customer27%28%29%28%Second largest customer20%22%20%21%Third largest customer20%18%19%18%Contract BalancesThe following table summarizes balances and activities in HEPLISAV-B product revenue allowance and reserve categories for the six months ended June 30, 2025 (in thousands): Balance atBeginningof PeriodProvisionsrelated tocurrentperiod salesCredit orpaymentsmade duringthe periodAdjustments (3)Balanceat End ofPeriodSix months ended June 30, 2025:Accounts receivable reserves (1)$9,317 $43,813 $(41,519)$(178)$11,433 Revenue reserve accruals (2)$31,479 $29,739 $(23,103)$(10,808)$27,307 (1)Reserves are for chargebacks, discounts and other fees.(2)Accruals are for returns, rebates and other fees.(3)Adjustments for $10.8 million in connection to revenue reserve accruals primarily result from a change in estimate for product returns.When we perform services under our agreement with the DoD, we recognize product revenue and a corresponding contract asset as our right to consideration is conditioned on something other than the passage of time. See Note 6 for further discussion. The following table summarizes balances and activities in our contract asset account (in thousands): Balance atBeginningof PeriodAdditionsSubtractions Balanceat End ofPeriodSix months ended June 30, 2025Contract asset, included in other current assets (1)$351 $6,164 $(3,872)$2,643 Contract asset, included in other assets (long term) (2)$71,307 $— $(10,970)$60,337 (1)The $2.6 million contract asset is derived from our agreement with the DoD.(2)The Clover contract asset was included in non-current assets to reflect the timing