What does Dynavax Technologies do and what are its main business segments?

What factors drove the changes in Dynavax Technologies's revenue and profit?

What is Dynavax Technologies's latest dividend and current dividend yield?

What guidance did Dynavax Technologies's management provide for the next earnings period?

What is the revenue and EPS growth rate for Dynavax Technologies year over year?

What is the market's earnings forecast for Dynavax Technologies next quarter?

What were the key takeaways from Dynavax Technologies’s earnings call?

What were the key takeaways from Dynavax Technologies's earnings call?

- **HEPLISAV-B Growth**: $90M Q3 revenue (13% YoY), 46% U.S. market share, targeting 60% by 2030.
- **Vaxart Deal**: $25M upfront for oral COVID-19 vaccine, potential $50M milestone post Phase IIb data review.
- **Pipeline Momentum**: Shingles vaccine (Z-1018) in Phase IIb, plague program awarded $14M DoD funding.
- **Capital Allocation**: $100M share buyback authorized, total capital return $300M (25% of market cap).
- **Financial Health**: Adjusted EBITDA guidance raised to $80M+ for 2025, R&D expenses expected to rise 20-30% YoY in 2026.

**【CEO Summary Section】**
- HEPLISAV-B net product revenue reached $90 million (13% YoY growth), with U.S. total market share at 46% (up from 44% last year). Targeting 60% market share by 2030.
- Announced $25 million upfront license agreement with Vaxart for oral COVID-19 vaccine candidate, with potential $50 million milestone payment post Phase IIb data review.
- Initiated Phase IIb trial for shingles vaccine (Z-1018) in adults ≥70 years, with Part 1 long-term follow-up data expected in H2 2026.

**【CFO Financial Commentary】**
- Total revenue $95 million (18% YoY growth), with HEPLISAV-B gross margin 84%.
- R&D expenses $19 million (14% YoY increase) due to pipeline advancements (shingles, plague programs).
- Authorized $100 million share repurchase program, bringing total capital return to $300 million (25% of current market cap).
- Adjusted EBITDA guidance raised to $80 million+ for 2025 (from $75 million).

**【Q&A Highlights】**
- Vaxart trial powered to demonstrate superiority vs mRNA vaccine, with 5,400 subjects enrolled (originally 10,000 due to BARDA changes). Phase IIb data expected late 2026.
- HEPLISAV-B Q4 seasonality expected due to holiday-related demand slowdown, but long-term retail channel growth offsets.
- Shingles and oral COVID-19 programs could be advanced in parallel if Phase IIb data supports further development.
- CFO expects R&D expenses to rise 20-30% YoY in 2026 as pipeline progresses.


Dynavax Technologies Corporation (DVAX) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

DVAX

DVAX fundamentals

You can ask Aime