Company: DVAX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001029142-25-000117
Chunk: 298

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 298
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 from our estimates. If actual results in the future vary from our estimates, we will adjust these estimates, which would affect net product revenue and earnings in the period such variances become known.

The following is a summary of our revenues (in thousands, except for percentages):

 Three Months EndedJune 30,Increase (Decrease) from 2024 to 2025 Six Months EndedJune 30,Increase from 2024 to 2025 Revenues:20252024$ % 20252024$ % HEPLISAV-B$91,872 $70,188 $21,684 31%$156,831 $118,032 $38,799 33%Total product revenue, net91,872 70,188 21,684 31%156,831 118,032 38,799 33%Other revenue3,570 3,607 (37)(1%)6,775 6,552 223 3 %Total revenues$95,442 $73,795 $21,647 29%$163,606 $124,584 $39,022 31%

(1) Other revenue primarily includes revenue from our agreement with the DoD.

HEPLISAV-B product revenue increased by $21.7 million and $38.8 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024. 

For the three and six months ended June 30, 2025, respectively, approximately $8.2 million and $17.2 million of the increase in product revenue was due to higher volume, largely driven by continued improvement in market share, and growth in the U.S. hepatitis-B vaccine market. Increases in net sales price contributed approximately $9.1 million and $14.0 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024. Adjustments to our returns reserve estimate contributed approximately $3.5 million and $6.8 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, driven by lower observed HEPLISAV-B product return rates.

Additionally, HEPLISAV-B product revenue, net included approximately $1.6 million related to non-U.S. sales for each of the three and six months ended June 30, 202