Financial Performance - Dynavax reported record HEPLISAV-B net product revenue of 65millionforQ12025,representinga3647.8 million in Q1 2024[6]. - Total revenues for Q1 2025 were 68.2million,a3450.8 million in Q1 2024[17]. - Adjusted EBITDA for Q1 2025 was negative 4.4million,animprovementfromnegative6.8 million in Q1 2024[17]. - Total revenues for the three months ended March 31, 2025, were 68.164million,anincreaseof34.250.790 million for the same period in 2024[36]. - Product revenue, net, was 64.959million,upfrom47.845 million, reflecting a growth of 36.0% year-over-year[36]. - The net loss for the three months ended March 31, 2025, was 96.099million,comparedtoanetlossof8.721 million for the same period in 2024[36]. - Adjusted EBITDA for the first quarter of 2025 was (4.356)million,animprovementfrom(6.751) million in the same quarter of 2024[40]. Market Position and Expectations - HEPLISAV-B's total estimated market share in the U.S. increased to approximately 43%, up from 41% in Q1 2024[7]. - The company expects the U.S. hepatitis B adult vaccine market to peak at over 900millioninannualsalesby2030,withHEPLISAV−Bprojectedtoachieveatleast60305 to 325million[17].−Dynavaxanticipatescontinuedgrowthandmarketexpansion,withexpectationsforfuturefinancialperformanceandproductcommercialization[32].ExpensesandLiabilities−ResearchanddevelopmentexpensesforQ12025were19.4 million, compared to 13.5millioninQ12024[17].−Totaloperatingexpensesincreasedto91.794 million from 68.559million,representingariseof33.9661.336 million as of March 31, 2025, down from 713.834millionattheendof2024[38].−Totalcurrentassetswere815.970 million, a decrease from 848.941millionasofDecember31,2024[38].−Totalliabilitiesincreasedto415.987 million from 389.457million,withtotallong−termliabilitiesrisingto346.608 million[38]. - The company reported a significant loss on debt extinguishment of 82.095millionduringthequarter[36].ShareRepurchaseProgram−Thecompanyhasexecutedover80200 million share repurchase program, with $172 million repurchased as of May 5, 2025[17]. Future Developments - Dynavax plans to initiate a Phase 1/2 clinical trial for an investigational H5N1 influenza vaccine adjuvanted with CpG 1018 in Q2 2025[13].