Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 268

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 268
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2 and 3 during the three months ended March 31, 2025. The carrying amounts of cash equivalents, accounts and other receivables, accounts payable and accrued liabilities are considered reasonable estimates of their respective fair value because of their short-term nature.

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Table of Contents

Recurring Fair Value Measurements The following table represents the fair value hierarchy for our financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis (in thousands): Level 1Level 2Level 3TotalMarch 31, 2025   Assets   Money market funds$39,727 $- $- $39,727 U.S. treasuries- 263,540 - 263,540 U.S. government agency securities- 144,538 - 144,538 Corporate debt securities- 201,538 - 201,538 Total assets$39,727 $609,616 $- $649,343    Level 1Level 2Level 3TotalDecember 31, 2024   Assets   Money market funds$83,726 $- $- $83,726 U.S. treasuries- 199,879 - 199,879 U.S. government agency securities- 158,871 - 158,871 Corporate debt securities- 259,201 - 259,201 Total assets$83,726 $617,951 $- $701,677 Money market funds are highly liquid investments and are actively traded. The pricing information on these investment instruments is readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 of the fair value hierarchy.U.S. treasuries, U.S. government agency securities and corporate debt securities are measured at fair value using Level 2 inputs. We review trading activity and pricing for these investments as of each measurement date. When sufficient quoted pricing for identical securities is not available, we use market pricing and other observable market inputs for similar securities obtained from various third-party data providers. These inputs represent quoted prices for similar assets in active markets or these inputs have been derived from observable market data. This approach results in the classification of these securities as Level 2 of the fair value hierarchy.

3. Cash and Cash Equivalents, Restricted Cash and Marketable Securities 

The following table provides a reconciliation of cash and cash equivalents