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Sep 30, 2020
Dynavax Q3 2020 Earnings Report
Reported financial results for the third quarter of 2020.
Key Takeaways
Dynavax reported a net income of $4.4 million for Q3 2020, a significant improvement compared to the net loss of $36.7 million in Q3 2019. The company's HEPLISAV-B net product revenue reached its highest since launch at $11.6 million, and initial CpG 1018 revenue and deferred revenue totaled $23.4 million.
HEPLISAV-B net product revenue was the highest since launch at $11.6 million.
Initial CpG 1018 revenue and deferred revenue totaled $23.4 million.
Loss from operations decreased to $13.8 million from $30.6 million in the same period in 2019.
Net income was $4.4 million compared to a net loss of $36.7 million for the third quarter of 2019.
Revenue by Segment
Forward Guidance
Dynavax anticipates cost of sales-product to increase substantially in 2021 due to increased manufacturing of CpG 1018 under the supply agreement with Valneva. Dynavax has the potential for 2021 CpG 1018 revenue between approximately $130 and $230 million.
Positive Outlook
- Final immunogenicity data from the ongoing study of HEPLISAV-B in patients on hemodialysis anticipated in the fourth quarter with publication planned in the first half of 2021
- Completion of safety follow-up period for HEPLISAV-B post-marketing studies in the fourth quarter with the final report expected in Q2 2021
- Completion of Phase 1-enabling animal studies and toxicology for an improved TdaP vaccine with CpG 1018 is planned for the fourth quarter
- Potential 2021 CpG 1018 revenue between approximately $130 and $230 million
- Total revenue potential over $400 million through 2024, contingent on the continued success of the program
Historical Earnings Impact
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Avg. Return Before/After Earnings
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