Dynavax Reports Fourth Quarter and Full Year 2019 Financial Results | Financial Buzz

Dynavax Reports Fourth Quarter and Full Year 2019 Financial Results

Dynavax is a commercial stage biopharmaceutical company developing and commercializing novel vaccines. The Company launched its first commercial product, HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted], in February 2018, following U.S. FDA approval for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older.  HEPLISAV-B is an adult hepatitis B vaccine that combines hepatitis B surface antigen with Dynavax’s proprietary Toll-like Receptor (TLR) 9 agonist to enhance the immune response.

Dynavax Technologies Corporation (NASDAQ: DVAX) announced financial results for the fourth quarter and full year 2019.  Product revenue for the fourth quarter was USD 10.6 Million, an increase from USD 3.9 Million in the fourth quarter of 2018.  Cost of sales – product in the fourth quarter was USD 2.4 Million compared to USD 1.6 Million a year ago.  R&D expenses amountedto USD 12.3 Million, a shortfall compared to USD 22.9 Million in the same period a year ago. 

“Vaccines offer an unmatched value to the healthcare system and Dynavax continues to make tremendous progress on its transformation into a leading vaccine company. Our first product, HEPLISAV-B, provides adults higher and faster protection from hepatitis B in just two doses compared to previously available vaccines,” commented Ryan Spencer, Chief Executive Officer of Dynavax. “We are excited by the response from our customers and our continued success in growing market share, which reinforces our belief that HEPLISAV-B has the potential to become the standard of care for adult hepatitis B vaccination in the U.S.”

Mr. Spencer added, “Our focus in 2020 is driving annual 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, all of which position HEPLISAV-B for substantial long-term growth.”