Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 276

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 276
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 sale of marketable securities during the three and nine months ended September 30, 2025 and 2024. We do not intend to sell, and are not required to sell, the investments that are in an unrealized loss position before recovery of their amortized cost basis. During the three and nine months ended 

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September 30, 2025, we did not record an allowance for credit losses, as management believes any such losses would be immaterial based on the investment-grade credit rating for each of the investments as of September 30, 2025. As such, there have been no declines in fair value that have been identified as a credit-related impairment.

4. Inventories

The following table presents inventories (in thousands):  September 30, 2025December 31, 2024Raw materials$39,965 $42,639 Work-in-process13,327 14,569 Finished goods19,996 12,846 Total inventories$73,288 $70,054 During the nine months ended September 30, 2025, we recorded approximately $3.1 million in Cost of sales - product primarily related to yield loss during the production process. During the nine months ended September 30, 2024, we recorded approximately $1.3 million in Cost of sales - product related to one manufacturing batch that did not meet approved release specifications.

5. Commitments and Contingencies 

LeasesWe lease our facilities in Emeryville, California and Düsseldorf, Germany. We lease and sublease certain manufacturing and office space with lease terms ranging from 3 to 12 years. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases also include options to renew or extend the lease for two successive five-year terms. These optional periods have not been considered in the determination of the right-of-use assets or lease liabilities associated with these leases as we did not consider the exercise of these options to be reasonably certain.Our lease-related amounts are presented below (in thousands):  Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Operating lease expense$1,461 $1,437 $4,323 $4,349 Cash paid for lease liabilities (1)$1,745 $1,923 $5,405 $5,701 Sublease income (2)$2,225 $2