Company: DVAX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001029142-25-000117
Chunk: 282

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 282
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 integrated delivery networks, retail pharmacies, independent hospitals and clinics, public health clinics and prisons, the Department of Defense, and the Department of Veterans Affairs. 

20

In May 2021, we entered into a commercialization agreement with Bavarian Nordic for the marketing and distribution of HEPLISAV-B in Germany, and in May 2022, we commenced commercial shipments of HEPLISAV-B in Germany. In the second quarter of 2025, the commercialization agreement was not renewed. Bavarian Nordic will retain the distribution rights for HEPLISAV-B in Germany through April 2026, after which Dynavax will regain the commercialization rights. We do not currently market HEPLISAV-B outside the U.S.The following table summarizes HEPLISAV-B product revenue from each of our three largest customers (as a percentage of total HEPLISAV-B net product revenue): Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Largest customer27%28%29%28%Second largest customer20%22%20%21%Third largest customer20%18%19%18%Contract BalancesThe following table summarizes balances and activities in HEPLISAV-B product revenue allowance and reserve categories for the six months ended June 30, 2025 (in thousands): Balance atBeginningof PeriodProvisionsrelated tocurrentperiod salesCredit orpaymentsmade duringthe periodAdjustments (3)Balanceat End ofPeriodSix months ended June 30, 2025:Accounts receivable reserves (1)$9,317 $43,813 $(41,519)$(178)$11,433 Revenue reserve accruals (2)$31,479 $29,739 $(23,103)$(10,808)$27,307 (1)Reserves are for chargebacks, discounts and other fees.(2)Accruals are for returns, rebates and other fees.(3)Adjustments for $10.8 million in connection to revenue reserve accruals primarily result from a change in estimate for product returns.When we perform services under our agreement with the DoD, we recognize product revenue and a corresponding contract asset as our right to consideration is conditioned on something other than the passage of time. See Note 6 for further discussion. The following table summarizes balances and activities in our contract asset account (in thousands): Balance atBeginningof PeriodAdditionsSubtractions Balanceat End ofPeriodSix months