Dynavax (DVAX) Tops Q3 EPS by 5c

Dynavax (NASDAQ: DVAX) reported Q3 EPS of ($0.15), $0.05 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $13.28 million versus the consensus estimate of $9.44 million.

"The current global pandemic highlights the need for continued development of new and improved vaccines," commented Ryan Spencer, Chief Executive Officer of Dynavax. "Our team at Dynavax is leveraging its expertise in vaccine development and commercialization to build a leading vaccine company around our FDA-approved adult hepatitis B vaccine, HEPLISAV-B, which we believe has the potential to become the standard of care in the U.S., as well as our pipeline of opportunities enabled by our vaccine adjuvant CpG 1018."

Mr. Spencer added, "The overall vaccine market continues to rebound from the significant declines seen in the first and second quarters, with the adult hepatitis B vaccine market recovering to approximately 75% of the same period last year. HEPLISAV-B sales have come back even stronger based on success in key national accounts and continued growth in field targeted account market share, resulting in our highest quarterly revenue to date. In addition, we have entered into numerous collaborations to develop adjuvanted vaccines across multiple indications, including COVID-19, TdaP, and universal flu. This portfolio of CpG 1018 opportunities is driving the next leg of growth beyond HEPLISAV-B, as initially seen with our commercial supply agreement with Valneva, where we have the potential for 2021 CpG 1018 revenue between approximately $130 and $230 million."

For earnings history and earnings-related data on Dynavax (DVAX) click here.

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