Dynavax Technologies Corp. (DVAX, Financial) filed Quarterly Report for the period ended 2012-06-30.
Dynavax Technologies Corporation has a market cap of $728 million; its shares were traded at around $3.77 with and P/S ratio of 33.6.
Total revenues for the six months ended June 30, 2012 decreased by $4.0 million, or 44%, as compared to the same period of 2011 primarily due to the decrease in collaboration revenue from our partnership with GSK. Grant revenue for the six months ended June 30, 2012 increased from the same period in 2011 primarily due to the increase in research activity under our NIAID contract related to adjuvant development. Service and license revenue for the first half of 2012 was consistent with same period in the prior year.
We currently estimate that we have sufficient cash resources to meet our anticipated cash needs through at least the next 12 months based on cash and cash equivalents and marketable securities on hand as of June 30, 2012 and anticipated revenues and funding from existing agreements. We expect to continue to spend substantial funds in connection with development and manufacturing of our product candidates, particularly HEPLISAV; various human clinical trials for our product candidates; and protection of our intellectual property. In order to continue development of our product candidates and if it is approved, to launch HEPLISAV, we may need to raise additional funds. This may occur through strategic alliance and licensing arrangements and/or future public or private financings. Sufficient funding may not be available, or if available, may be on terms that significantly dilute or otherwise adversely affect the rights of existing stockholders. If adequate funds are not available in the future, we may need to delay, reduce the scope of, or put on hold the HEPLISAV program or other development programs while we seek strategic alternatives.
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Dynavax Technologies Corporation has a market cap of $728 million; its shares were traded at around $3.77 with and P/S ratio of 33.6.
Highlight of Business Operations:
Total revenues for the three months ended June 30, 2012 decreased by $4.6 million, or 63%, as compared to the same quarter of 2011. In the current quarter, revenue was primarily earned from our collaboration partnership with AstraZeneca. In the second quarter of 2011, revenue resulted primarily from a $6.0 million milestone payment from GSK for the initiation of a Phase 1 clinical trial. Grant revenue for the second quarter of 2012 was consistent with the same period in 2011. Grant revenue in both periods was primarily due to research activity under our NIAID contract related to adjuvant development. Service and license revenue for the first quarter of 2012 increased as compared to the same period in 2011 as a result of a research and development milestone achieved by Rhein Biotech GmbH (Rhein or Dynavax Europe).Total revenues for the six months ended June 30, 2012 decreased by $4.0 million, or 44%, as compared to the same period of 2011 primarily due to the decrease in collaboration revenue from our partnership with GSK. Grant revenue for the six months ended June 30, 2012 increased from the same period in 2011 primarily due to the increase in research activity under our NIAID contract related to adjuvant development. Service and license revenue for the first half of 2012 was consistent with same period in the prior year.
We currently estimate that we have sufficient cash resources to meet our anticipated cash needs through at least the next 12 months based on cash and cash equivalents and marketable securities on hand as of June 30, 2012 and anticipated revenues and funding from existing agreements. We expect to continue to spend substantial funds in connection with development and manufacturing of our product candidates, particularly HEPLISAV; various human clinical trials for our product candidates; and protection of our intellectual property. In order to continue development of our product candidates and if it is approved, to launch HEPLISAV, we may need to raise additional funds. This may occur through strategic alliance and licensing arrangements and/or future public or private financings. Sufficient funding may not be available, or if available, may be on terms that significantly dilute or otherwise adversely affect the rights of existing stockholders. If adequate funds are not available in the future, we may need to delay, reduce the scope of, or put on hold the HEPLISAV program or other development programs while we seek strategic alternatives.
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