Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 245

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 245
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 fair value per shareN/A$6.66 $7.13 $7.82 $20.19 $17.23 Risk-free interest rateN/A3.8%4.2%4.2%4.2%4.3%Expected life (in years)N/A4.54.54.52.92.9VolatilityN/A0.80.70.80.40.6Stock-based CompensationCompensation expense is based on awards ultimately expected to vest and reflects estimated forfeitures. For equity awards with time-based vesting, the fair value is amortized to expense on a straight-line basis over the vesting periods. We have also granted performance-based equity awards to certain of our employees. For equity awards with performance-based vesting criteria, the fair value is amortized to expense when the achievement of the vesting criteria becomes probable. The following table summarizes stock-based compensation expense recorded in each component of operating expenses in our condensed consolidated statements of operations and amounts capitalized to our inventories (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Research and development$2,482 $3,135 $8,300 $8,681 Selling, general and administrative8,620 8,703 27,392 26,878 Cost of sales - product370 397 1,316 1,505 Inventories918 848 2,816 2,551 Total$12,390 $13,083 $39,824 $39,615 

13. Income Taxes

We are subject to U.S. federal, state and foreign income taxes. Our consolidated provision for income taxes and our effective income tax rate consists of the following (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Provision for income taxes$(1,492)$(2,224)$(2,211)$(2,967)Effective income tax rate5.3 %11.2 %(4.6)%12.8 %

25

On July 4, 2025, the President signed into law the One Big Beautiful Bill Act (“OBBBA”). The OBBBA includes numerous changes to existing tax law including extending or making permanent certain business and international tax measures initially established under the 2017 Tax Cuts and Jobs Act, which were set to expire.