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Sep 30, 2021
Dynavax Q3 2021 Earnings Report
Reported financial results for the third quarter ended September 30, 2021 and provided a business update.
Key Takeaways
Dynavax reported strong progress with HEPLISAV-B and CpG 1018 vaccine adjuvant platform in Q3 2021. Total revenue reached $108.3 million, driven by growth in HEPLISAV-B market share and revenue, along with positive data readouts for CpG 1018 adjuvanted COVID-19 vaccine candidates. The company ended the quarter with $414 million in cash and equivalents.
Total revenue for the third quarter of 2021 was $108.3 million.
HEPLISAV-B net product revenue was $22.7 million in the third quarter of 2021.
CpG 1018 adjuvant product revenue was $84.3 million in the third quarter of 2021.
ACIP voted unanimously to recommend that all adults 19 to 59 years of age should receive hepatitis B vaccination.
Revenue by Segment
Forward Guidance
Dynavax anticipates multiple CpG 1018 COVID-19 collaboration partners' regulatory submissions for emergency or conditional use authorization by the end of 2021, which may provide additional revenue opportunities in 2022. Data from Tdap-1018 in the ongoing Phase 1 clinical trial are expected in the first quarter of 2022.
Positive Outlook
- Potential for additional revenue from CpG 1018 collaborations in 2022.
- Expected data from Tdap-1018 Phase 1 clinical trial in Q1 2022.
- Multiple CpG 1018 COVID-19 collaboration partners’ regulatory submissions for emergency or conditional use authorization are expected by the end of 2021
- Advancing CpG 1018 adjuvant as a premier vaccine adjuvant through research collaborations and partnerships.
- Focus on adjuvanted vaccines for COVID-19, plague, TDaP, and universal influenza.
Challenges Ahead
- Regulatory submissions are subject to approval.
- Clinical trial data may not be positive.
- Dependence on collaborators for vaccine development and commercialization.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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