Dynavax Technologies Corporation (NASDAQ:DVAX) Provides Update On Quarter Operations


Dallas, Texas 03/31/2014 (FINANCIALSTRENDS) – Dynavax Technologies Corporation (NASDAQ:DVAX) during last week, reported revenue and operational updates for period covering the fourth quarter and full year 2013. The update included the $189.4 million cash trench, which the firm had managed to accumulate from its 4Q operations. These cash flows were managed on the back of $2.8 million in revenue as against the $1.8 million it had reported in 4Q12. From its full year 2013 operations, the company had managed to post revenue of $11.3 million as against the $9.7 million it had managed to post in 2012.

The Berkley head quartered firm disclosed that it had also spent nearly $3.7 million for the reporting quarter, as against the $9.7 million it had sunk into company operations in 4Q12. For the full year, expenses came in at $25.9 million, as against the $28.2 million it had reported in 2012. Research header attracted investments of nearly $12.1 million as against the $12.5 million on 2012.From these operations, Dynavax Technologies Corporation (NASDAQ:DVAX) the firm has reported net loss of $75.2 million, which translates to a loss of 38 cents per share.

Dynavax Technologies Corporation (NASDAQ:DVAX) goes on to highlight its Form 10 K filing to SEC that, “On February 25, 2013, we received a complete response letter (“CRL”) from the FDA indicating that it would not approve HEPLISAV-B for the indication proposed in our BLA. Following extensive discussions with the FDA, we finalized the design of an additional clinical study of HEPLISAV-B that is intended to provide a sufficiently-sized safety database for the FDA to complete its review of our BLA and make a final determination regarding the safety and immunogenicity of the product”.

The goal of the proposed clinical trials is to establish safety aspects of the test drug in addition to establishing the “non inferiority” of the seroprotection rate of the same drug in treating patients suffering from type 2 diabetes.