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Mar 31, 2020
Dynavax Q1 2020 Earnings Report
Reported financial results for the first quarter of 2020.
Key Takeaways
Dynavax Technologies Corporation reported first quarter 2020 financial results. HEPLISAV-B net product revenue was $10.5 million, compared to $5.6 million in Q1 2019. Net loss allocable for the first quarter of 2020 was $12.6 million, or $0.15 per basic share and $0.25 per diluted share, compared to a net loss of $39.7 million, or $0.62 per basic and diluted share, for the first quarter of 2019.
HEPLISAV-B net product revenue reached $10.5 million in Q1 2020, a significant increase from $5.6 million in Q1 2019.
Multiple collaborations were established, leveraging Dynavax’s vaccine adjuvant CpG 1018 in coronavirus (COVID-19) vaccine candidates.
Positive interim clinical trial results were reported for HEPLISAV-B in dialysis patients.
Dynavax exceeded the HEPLISAV-B minimum product revenue covenant in its Term Loan Agreement.
Revenue by Segment
Forward Guidance
Dynavax is focused on driving revenue growth of HEPLISAV-B, generating data to support a unique dosing regimen for patients on hemodialysis, and supporting policy initiatives aimed at protecting more adults through adoption of a two-dose regimen. The company is also leveraging its proprietary vaccine adjuvant, CpG 1018, to support the development of coronavirus vaccines.
Positive Outlook
- Interim data from ongoing study of HEPLISAV-B in patients on hemodialysis reported in April 2020; final immunogenicity data anticipated in the second half of 2020
- Completion of Phase 1-enabling animal studies and toxicology for an improved pertussis vaccine with CpG 1018
- Inclusion of CpG 1018 in at least one coronavirus vaccine advanced to Phase 1 clinical evaluation
- Entrance into multiple strategic relationships focused on initial research in a variety of vaccine candidates to establish CpG 1018 as a leading adjuvant
- Completion of safety follow-up for HEPLISAV-B post-marketing studies in Q4 2020
Challenges Ahead
- The vaccine market and/or the adult hepatitis B market may not grow as expected
- COVID-19 will continue to have a significant negative impact on the use of vaccines, including HEPLISAV-B, until the U.S. returns to more normal conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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