Dynavax Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Full Year 2025 Financial Guidance

Core Insights - Dynavax Technologies Corporation reported strong financial results for Q4 and full year 2024, with significant growth in HEPLISAV-B product revenue and a positive outlook for 2025 [2][7][8]. Business Updates - HEPLISAV-B is the first and only adult hepatitis B vaccine approved in the U.S., EU, and UK, allowing series completion with just two doses [3]. - The company is advancing its clinical pipeline, including a shingles vaccine (Z-1018) and a plague vaccine candidate, with significant funding from the U.S. Department of Defense [4][5][6]. Financial Performance - HEPLISAV-B net product revenue for 2024 reached $268.4 million, a 26% increase from $213.3 million in 2023 [8]. - Total revenues for 2024 were $277.2 million, up 19% from $232.3 million in 2023 [15]. - The company reported a GAAP net income of $27.3 million for 2024, compared to a net loss of $6.4 million in 2023 [15]. Future Guidance - For 2025, Dynavax expects HEPLISAV-B net product revenue to be between $305 million and $325 million [7][13]. - The company anticipates reporting top-line results from the shingles vaccine Phase 1/2 trial in Q3 2025 and plans to initiate a Phase 2 trial for the plague vaccine in the same quarter [7][9]. Market Position - HEPLISAV-B's market share in the U.S. increased to approximately 44% by the end of 2024, with expectations to reach at least 60% as the hepatitis B adult vaccine market is projected to exceed $900 million by 2030 [8].