$DVAX
DYNAVAX TECHNOLOGIES CORP

2020 Q1 Form 10-Q Financial Statement

#000156459020023004 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $10.92M $5.773M
YoY Change 89.16% 3398.79%
Cost Of Revenue $4.650M $4.070M
YoY Change 14.25% 1885.37%
Gross Profit $6.270M $1.700M
YoY Change 268.82% -4350.0%
Gross Profit Margin 57.42% 29.45%
Selling, General & Admin $20.93M $18.35M
YoY Change 14.05% 8.63%
% of Gross Profit 333.75% 1079.29%
Research & Development $4.653M $21.21M
YoY Change -78.06% 11.81%
% of Gross Profit 74.21% 1247.65%
Depreciation & Amortization $3.310M $3.970M
YoY Change -16.62% 22.53%
% of Gross Profit 52.79% 233.53%
Operating Expenses $25.58M $18.35M
YoY Change 39.41% -52.32%
Operating Profit -$19.31M -$37.85M
YoY Change -48.98% -1.2%
Interest Expense $4.731M $2.734M
YoY Change 73.04% 135.49%
% of Operating Profit
Other Income/Expense, Net $322.0K $181.0K
YoY Change 77.9% -181.17%
Pretax Income -$12.60M -$39.67M
YoY Change -68.24% 1.82%
Income Tax
% Of Pretax Income
Net Earnings -$12.60M -$39.67M
YoY Change -68.25% 1.83%
Net Earnings / Revenue -115.34% -687.2%
Basic Earnings Per Share -$0.15 -$0.62
Diluted Earnings Per Share -$0.25 -$0.62
COMMON SHARES
Basic Shares Outstanding 85.48M 63.78M
Diluted Shares Outstanding 85.65M 63.78M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.5M $183.2M
YoY Change -29.31% -26.95%
Cash & Equivalents $37.90M $112.1M
Short-Term Investments $91.60M $71.10M
Other Short-Term Assets $8.400M $5.900M
YoY Change 42.37% 78.79%
Inventory $48.10M $27.57M
Prepaid Expenses
Receivables $8.100M $5.800M
Other Receivables $0.00 $0.00
Total Short-Term Assets $194.1M $222.5M
YoY Change -12.76% -12.88%
LONG-TERM ASSETS
Property, Plant & Equipment $59.30M $58.80M
YoY Change 0.85% 244.59%
Goodwill
YoY Change
Intangibles $9.445M
YoY Change -49.39%
Long-Term Investments
YoY Change
Other Assets $3.500M $3.700M
YoY Change -5.41% 94.74%
Total Long-Term Assets $65.20M $74.10M
YoY Change -12.01% 85.7%
TOTAL ASSETS
Total Short-Term Assets $194.1M $222.5M
Total Long-Term Assets $65.20M $74.10M
Total Assets $259.3M $296.6M
YoY Change -12.58% 0.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.600M $11.90M
YoY Change -61.34% 417.39%
Accrued Expenses $18.50M $23.90M
YoY Change -22.59% 67.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.28M $42.25M
YoY Change -30.7% 79.79%
LONG-TERM LIABILITIES
Long-Term Debt $179.6M $175.7M
YoY Change 2.23% 77.09%
Other Long-Term Liabilities $38.60M $441.0K
YoY Change 8652.83% -93.42%
Total Long-Term Liabilities $179.6M $176.1M
YoY Change 1.97% 66.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.28M $42.25M
Total Long-Term Liabilities $179.6M $176.1M
Total Liabilities $208.9M $253.4M
YoY Change -17.59% 95.86%
SHAREHOLDERS EQUITY
Retained Earnings -$1.106B
YoY Change
Common Stock $1.151B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.82M $43.16M
YoY Change
Total Liabilities & Shareholders Equity $259.3M $296.6M
YoY Change -12.58% 0.44%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$12.60M -$39.67M
YoY Change -68.25% 1.83%
Depreciation, Depletion And Amortization $3.310M $3.970M
YoY Change -16.62% 22.53%
Cash From Operating Activities -$26.87M -$39.90M
YoY Change -32.67% 33.58%
INVESTING ACTIVITIES
Capital Expenditures $2.352M $3.882M
YoY Change -39.41% 332.78%
Acquisitions
YoY Change
Other Investing Activities $19.92M $25.50M
YoY Change -21.88% -151.73%
Cash From Investing Activities $10.56M $14.61M
YoY Change -27.72% -124.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.23M $13.62M
YoY Change 4.45%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.54M 88.26M
YoY Change -83.53% -10.69%
NET CHANGE
Cash From Operating Activities -26.87M -39.90M
Cash From Investing Activities 10.56M 14.61M
Cash From Financing Activities 14.54M 88.26M
Net Change In Cash -1.989M 62.78M
YoY Change -103.17% 561.62%
FREE CASH FLOW
Cash From Operating Activities -$26.87M -$39.90M
Capital Expenditures $2.352M $3.882M
Free Cash Flow -$29.22M -$43.78M
YoY Change -33.27% 42.3%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make informed estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management’s estimates are based on historical information available as of the date of the condensed consolidated financial statements and various other assumptions we believe are reasonable under the circumstances. However, the worldwide spread of COVID-19 has resulted in a global slowdown of economic activity which is likely to decrease demand for a broad variety of goods and services, while also disrupting sales channels and marketing activities for an unknown period of time until the disease is contained. We are unable to predict the future effect resulting from the COVID-19 pandemic. Actual results could differ materially from management’s estimates.</p>
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CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3244000
CY2020Q1 us-gaap Inventory Net
InventoryNet
48099000
CY2019Q4 us-gaap Inventory Net
InventoryNet
41332000
CY2020Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19773000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19773000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
17273000
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
202000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1335000
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19571000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Due Thereafter
LessorSubleaseRentalsPaymentsToBeReceivedDueThereafter
39596000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
36261000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Due
LessorSubleaseRentalsPaymentsToBeReceivedDue
65157000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
65328000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2951000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3039000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
36972000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
37845000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
39923000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
40884000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2500000
CY2020Q1 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2300000
CY2019Q1 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
2300000
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1592000
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1738000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1700000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
700000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Remainder Of Fiscal Year
LessorSubleaseRentalsPaymentsToBeReceivedRemainderOfFiscalYear
3801000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5148000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Due Year Two
LessorSubleaseRentalsPaymentsToBeReceivedDueYearTwo
5201000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6888000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Due Year Three
LessorSubleaseRentalsPaymentsToBeReceivedDueYearThree
5357000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6201000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Due Year Four
LessorSubleaseRentalsPaymentsToBeReceivedDueYearFour
5518000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5343000
CY2020Q1 dvax Lessor Sublease Rentals Payments To Be Received Due Year Five
LessorSubleaseRentalsPaymentsToBeReceivedDueYearFive
5684000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5487000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
25405000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
39923000
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y7M6D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y8M12D
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.101
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.101
CY2020Q1 us-gaap Purchase Obligation
PurchaseObligation
7800000
CY2020Q1 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.68
CY2019Q1 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.66
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12595000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-39672000
CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-8610000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-21205000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-39672000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85477000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63778000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
171000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85648000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63778000
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
87599440
CY2019Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
18525000
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8006000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.86
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.34
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9260000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.64
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
8901000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
12.91
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4826000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.06
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1778000
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
6170000
CY2018Q2 dvax Increase In Number Of Employee Stock Purchase Plan Shares Authorized For Issuance
IncreaseInNumberOfEmployeeStockPurchasePlanSharesAuthorizedForIssuance
600000

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