Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 272

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 272
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 lease liabilities$29,601 $30,563 

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Table of Contents

As of March 31, 2025, the maturities of our sublease income and operating lease liabilities were as follows (in thousands):Years ending December 31,Sublease IncomeOperating Lease Liabilities 2025 (remaining)$4,596 $5,157 20266,342 6,514 20276,564 6,458 20286,794 6,443 20297,031 6,346 Thereafter9,160 8,605 Total$40,487 39,523 Less:Present value adjustment (9,922)Total $29,601 The weighted average remaining lease term and the weighted average discount rate used to determine the operating lease liabilities were as follows: March 31, 2025December 31, 2024Weighted average remaining lease term5.6 years5.9 yearsWeighted average discount rate9.8 %10.1 %CommitmentsWe have entered into material purchase commitments with commercial manufacturers for the supply of HEPLISAV-B. As of March 31, 2025, our material non-cancelable purchase and other commitments for the supply of HEPLISAV-B totaled $82.1 million, which is expected to be paid through 2029. In addition to the non-cancelable commitments included above, we have entered into contractual arrangements that obligate us to make payments to the contractual counterparties upon the occurrence of future events. In addition, in the normal course of operations, we have entered into license and other agreements and intend to continue to seek additional rights relating to compounds or technologies in connection with our discovery, manufacturing and development programs. Under the terms of the agreements, we may be required to pay future up-front fees, milestones and royalties on net sales of products originating from the licensed technologies, if any, or other payments contingent upon the occurrence of future events that cannot reasonably be estimated.We also rely on and have entered into agreements with research institutions, contract research organizations and clinical investigators as well as clinical material manufacturers. These agreements are terminable by us upon written notice. Generally, we are liable only for actual effort expended by the organizations at any point in time during the contract through the notice period. ContingenciesFrom time to time, we may be involved in claims, suits, and proceedings arising from the ordinary course of our business, including actions with respect to intellectual property