Company: DVAX
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001029142-25-000049
Chunk: 132

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 132
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 to the non-recurrence of a $1.1 million expense related to an engineering run performed for product testing purposes in 2023, partially offset by continued investment in clinical research and collaboration.

•Other program costs increased as we continued to invest in product candidates utilizing our CpG 1018 adjuvant through discovery and preclinical efforts, including external collaborations.

•Non-cash stock-based compensation expense increased primarily due to incremental headcount to support the advancement of our clinical vaccine programs.

As we continue to progress our clinical-stage pipeline, we expect research and development expenses to continue to represent a substantial portion of our expenses and to continue to increase, both in dollar amount and proportion of total expense, in future years. 

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Table of Contents

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of compensation and related costs for our commercial support personnel, medical education professionals and personnel in executive and other administrative functions, including legal, finance and information technology; costs for outside services such as sales and marketing, post-marketing studies of HEPLISAV-B, accounting, commercial development, consulting, business development, investor relations, insurance, and legal costs that include corporate and patent-related expenses; allocated facility costs; and non-cash stock-based compensation.

The following is a summary of our selling, general and administrative expenses (in thousands, except for percentages):

Selling, General and Administrative:Year Ended December 31,Increase (Decrease) from 2023 to 202420242023$%Compensation and related personnel costs$69,978 $63,937 $6,041 9 %Outside services56,268 51,355 4,913 10 %Facility costs8,723 8,585 138 2 %Non-cash stock-based compensation35,405 29,069 6,336 22 %Total selling, general and administrative$170,373 $152,946 $17,427 11 %

Selling, general and administrative expenses increased by $17.4 million for the year ended December 31, 2024 compared to the year ended December 31, 2023.

•Compensation and related personnel costs and non-cash stock-based compensation costs increased due to continued investments in headcount and personnel across commercial and administrative functions to support HEPLISAV-B and pipeline growth.

•Outside services increased primarily due to continued investments in commercial efforts designed to increase HEPLISAV-B market share