Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 318

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 318
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 million in prepaid assets and other current assets 

36

primarily related to interest receivable, prepaid taxes, and prepaid insurance. Net cash provided by operating activities is impacted by changes in our operating assets and liabilities due to timing of cash receipts and expenditures.

During the nine months ended September 30, 2025, net cash provided by investing activities was $129.0 million compared to $41.4 million of cash used in investing activities for the nine months ended September 30, 2024. Cash provided by investing activities during the nine months ended September 30, 2025 included $135.6 million of net proceeds from marketable securities compared to $38.5 million of net purchases of marketable securities for the nine months ended September 30, 2024. Net cash provided by investing activities during the nine months ended September 30, 2025, was partially offset by $6.6 million of net purchases of property and equipment.

During the nine months ended September 30, 2025, net cash used in financing activities was $103.9 million compared to $3.1 million of cash used in financing activities for the nine months ended September 30, 2024. Cash used in financing activities for the nine months ended September 30, 2025, included $80.9 million of payments for debt extinguishment, $101.2 million of payments for the repurchase of common stock, and $11.8 million for the payments of taxes related to net share settlement of RSUs, partially offset by $35.2 million of net proceeds from the issuance of the 2030 Notes net of debt issuance costs, $46.6 million of proceeds from the unwinding of capped call options, and $8.3 million of proceeds received from the exercise of options and from common stock purchases under our employee stock purchase plan. Cash used in financing activities for the nine months ended September 30, 2024, included $8.8 million for the payments of taxes related to net share settlement of RSUs, partially offset by proceeds received from the exercise of options and from purchases under our employee stock purchase plan for $5.7 million combined. 

Contractual Obligations

On March 13, 2025, we issued $225.0 million of our 2.00% 2030 Notes as part of the Refinancing Transaction. Following the completion of the Refinancing Transaction, the total principal balance of our outstanding Convertible Notes as of September