Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 397

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 397
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.1 million net changes from operating assets and liabilities, which included an increase of $9.8 million in inventories primarily related to higher number of batches produced, and an increase of $4.7 million in prepaid assets and other current assets primarily related to prepaid taxes. Net cash used in operating activities is impacted by changes in our operating assets and liabilities due to timing of cash receipts and expenditures.

During the three months ended March 31, 2025, net cash provided by investing activities was $6.9 million compared to $2.8 million of cash provided by investing activities for the three months ended March 31, 2024. Cash provided by investing activities during the three months ended March 31, 2025 included $10.8 million of net proceeds from marketable securities compared to $3.6 million of net proceeds from marketable securities for the three months ended March 31, 2024. Net cash provided by investing activities during the three months ended March 31, 2025, was partially offset by $3.9 million of net purchases of property and equipment.

During the three months ended March 31, 2025, net cash used in financing activities was $31.9 million compared to $4.2 million of cash used in financing activities for the three months ended March 31, 2024. Cash used in financing activities for the three months ended March 31, 2025, included $80.9 million of payments for debt 

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extinguishment, $29.5 million of payments for the repurchase of common stock, and $11.1 million for the payments of taxes related to net share settlement of RSUs, partially offset by $35.8 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 $7.3 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 three months ended March 31, 2024, included $6.7 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 $2.5 million combined. 

Contractual Obligations

On March 13, 2025, we issued $225.0 million of our 2.00%