Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 260

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 260
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 2.50% per year, payable semiannually in arrears on May 15 and November 15 of each year. The 2030 Notes bear interest at 2.00% per year, payable semiannually on March 15 and September 15, starting September 15, 2025. The 2026 Notes and the 2030 Notes mature on May 15, 2026 and March 15, 2030, respectively, unless converted, redeemed or repurchased prior to such date. See Note 7 – Convertible Notes, in the accompanying notes to the unaudited condensed consolidated financial statements included in Part I, Item 1, “Financial Statements (unaudited)” of this Quarterly Report on Form 10-Q.

As of March 31, 2025, we had $120.0 million remaining under the at-the-market Sales Agreement (the "ATM Agreement") with Cowen and Company, LLC (“Cowen”).

Prior to January 1, 2021, we incurred net losses in each year since our inception. For the three months ended March 31, 2025, we recorded a net loss of $96.1 million. For the three months ended March 31, 2024, we recorded a net loss of $8.7 million. We cannot be certain that sales of our products, and the revenue from our other activities will be sustainable. Further, we expect to continue to incur substantial expenses as we continue investing in commercialization of HEPLISAV-B, advancing our research and development pipeline, and investing in clinical trials and other development. If we cannot generate a sufficient amount of revenue from product sales, we will need to finance our operations through strategic alliance and licensing arrangements and/or future public or private debt and equity financings. Raising additional funds through the issuance of equity or debt securities could result in dilution to our existing stockholders, increased fixed interest payment obligations, or both. In addition, these securities may have rights senior to those of our common stock and could include covenants that would restrict our operations.

Our ability to raise additional capital in the equity and debt markets, should we choose to do so, is dependent on a number of factors, including, but not limited to, the market demand for our common stock, which itself is subject to a number of development and business risks and uncertainties, our creditworthiness and the uncertainty that we would be able to raise such additional capital at a price or on terms