Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 254

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 254
---
24$%HEPLISAV-B$13,769 $10,966 $2,803 26 %Total cost of sales - product$13,769 $10,966 $2,803 26 %

31

Table of Contents

HEPLISAV-B cost of sales-product increased by $2.8 million for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. The increase was primarily due to the growth in HEPLISAV-B sales volume, coupled with inventory write-offs recorded related to yield loss during the production process, partially offset by lower per-unit manufacturing costs as a result of previous manufacturing process improvements.

Research and Development Expenses 

Research and development expenses are tracked on a program-by-program basis and consist primarily of costs incurred for the continued research and development of HEPLISAV-B and CpG 1018 adjuvant, clinical product candidates, and preclinical studies. These expenses include, but are not limited to, compensation and related personnel costs (which include benefits, recruitment and travel costs), expenses incurred under agreements with contract research organizations, contract manufacturing organizations and service providers that assist in conducting clinical studies, and costs associated with our preclinical activities, including engineering activities at our manufacturing facility in Düsseldorf related to functional improvements of our product and process advances, development activities and regulatory operations. We do not allocate stock-based compensation or facility expenses to specific programs because these costs are deployed across multiple programs.

The following is a summary of our research and development expenses (in thousands, except for percentages):

 Three Months EndedMarch 31,Increase (Decrease) from 2024 to 2025Program Expenses:20252024$%Shingles$6,987 $3,266 $3,721 114 %Tdap113 1,592 (1,479)(93)%Plague (1)1,240 1,322 (82)(6)%HEPLISAV-B and CpG 1018 adjuvant development1,948 1,291 657 51 %Other5,512 2,701 2,811 104 %Other research and development expenses:Facility costs593 691 (98)(14 %)Non-cash stock-based compensation2,984 2,665 319 12 %Total research and development$19,377 $13,528 $5,849 43 %