Dynavax Technologies (DVAX) 5 Aug 212021 Q2 Earnings call transcript

Good day, ladies and gentlemen, and welcome to the Dynavax Technologies Second Quarter 2021 Conference Call.

As a reminder, this conference call is being recorded. At the end of the Company's prepared remarks, we will open the call for questions and provide specific instructions at that point. I would now like to turn the call over to Nicole Arndt, Senior Manager, Investor Relations, you may begin.

Thank you, Anne. to update second conference welcome results XXXX and corporate and Call. afternoon, the quarter Dynavax financial Good

Joining me Robert on President, Chief Officer; Executive the Donn Commercial. call today Kelly and Chief are MacDonald, Financial Senior Officer; Casale, Janssen, Medical Officer; Chief Vice Ryan Spencer,

uncertainties today, current care, outlook, the commercial Before SEC, risks I statements of the business subject the our periodic launch detailed revenue margins, advise and HEPLISAV-B's differ in will with performance could in of XX-Q it's to reports marketing other Factors turn to making filed I and revenue potentials results materially. of are studies Ryan of standard section to and regarding begin, a to are our vaccine that risks we Risk expected statements These you I be review. timing, Dynavax. post now development XX-K expectations profile, Spencer, number become over CEO are our cause will today's collaborators. that European you which forward-looking including and actual summarized financial and press statements encourage These and with we call release

you Dynavax. to joining execution second for all And today. I'm our us belief excited reinforce and Thank Nicole. which reflects you, a is share year transformational thank the from successful results for quarter, continued that XXXX

provide then XXXX more adjuvant and the turn briefly profile. the on execute detail. pipeline to on will financial each in our core our bit priorities, to partnerships to continue over I of CpGs HEPLISAV-B against We developing our team growth COVID driving fight it a strengthening our XX, these touch enabling

for products $XX.X quarterly million is since in launch. First, HEPLISAV-B which highest revenue, we generated HEPLISAV-B our revenue

HEPLISAV-B share, growth, revenue of an we finalized for Germany. XX% with and we field to achieving the addition Bavarian continue commercialization Nordic in market agreement grow share, targeted to In

the vaccine care make United investment that are a very product will opportunity. confidence standard growth has additional team of continue This excited in goal this of potential We help States. the reality. value an hepatitis our the to the commercial sales to the to we the and us adult HEPLISAV-B highlights to the be our welcome in of believe HEPLISAV-B in members And XX

vaccine a for XXXX our CpG Secondly, of provides opportunities adjuvant Dynavax. variety

as we developer Now are of through a agreements. vaccine commercial supplier or supply adjuvants a

to the execution progress of supply continue We COVID-XX to XXXX developing make with provide to agreements partners multiple tremendous CpG vaccines.

innovative we internal proven leverage vaccines. progress continue of new our to efforts the to XXXX capabilities to develop Additionally, CpG

a response vaccine. which component CpG our currently on the X are Tdap enrolling focused improving vaccine product for to in Phase next trial candidate, of the protests's with patients We is the a XXXX, adjuvanted combination

are second a we net generated in pleased report positive to for quarter importantly, and GAAP that Lastly, the income we've row.

XXXX half performance approach financial of implemented disciplined during the Our of and first of to benefit reflects and we pandemic. to the the continued respond revenue COVID-XX growth the HEPLISAV-B strategy

Dynavax's the continued said into is the time before, believe set history, in transformational will and this for I've As future. foundation a growth we we

leveraging on the over Vice progress you identifying call so far. made ways value in now Commercial. we've on by to am and to focused take of I development Senior the We the best the I strength Donn of deliver our vaccines. are through To proud shareholders turn President will update our to commercialization HEPLISAV-B, Casale,

Hepatitis essential the of patient market a B only to significant of the vaccine beyond million time. series period HEPLISAV-B protection Unfortunately, path have delivers care vaccine to Hepatitis vaccine B its types in Hepatitis higher Ryan. United States is to rates. month X-dose that. with completion to additional of be B prevention shorter low challenging dose-dose, for that standard make HEPLISAV-B with with rates Hepatitis on potential B continues progress opportunities $XXX over in regimens a the of completion expansion Thank for you, all across becoming achieve proven one protection. is

on the starting on series those complete many HEPLISAV-B Fortunately, based Engerix-B. data, adults than as real-world twice

revenue second in with during the vaccine to in accounts increased levels, As revenue pre-pandemic commercial highest of the HEPLISAV-B quarter consistent was last was an milestone the approximately year. market mentioned, This second quarterly quarter utilization With from quarter for historical of Ryan of increase prior net $XX.X the pandemic. norms below achieved remaining XX% product quarter, XX% of quarter market the share the launch. our XX%, due field million, utilization despite X.X% B the Hepatitis at revenue targeted since to far ongoing

are vaccination excited increases in continue the to number by We in drive COVID-XX second retail vaccines ordering routine plus targeted great ability HEPLISAV-B in this segment, year. We this retail its and adult has of were shift of to purchases has customers B. remain several to accounts. half quarter-over-quarter confident Hepatitis share as large new to from In significant back our very HEPLISAV-B. shift provided there market The the a national segment this stores field outcome the such in opportunity focus believe adoption to from of accelerate started

session bases the included the summer the of over for purchases new months. in progress large increases Additional prepared in quarter recruits as DOD surge as

additional on progress track and remain make least convert remaining year-end. the by with continue one session at We bases base to to non-converted

with clinical to capitalize Looking profile vaccines, recovery, B a of that we cases resurgence terrific the steady around COVID-XX ahead, can HEPLISAV-B. importance variant, This recovery to overcome back increased with Delta concerning to of continue Hepatitis pre-pandemic the strong of awareness provides opportunity we the due hope on a its to expect market high the ongoing the coupled quickly levels.

the XX sales professionals, team a these was Nordic's vaccine, Nordic finalizing CDC progress We previously of on of unvaccinated of XXX additional will to HEPLISAV-B on Advisory Germany an long-term Hepatitis Committee look half benefits a ACIP opportunities, be Hepatitis universal Practices, of for of forward HEPLISAV-B for Bavarian Germany. the and deployment continued to we awareness in with of share. professionals recommendation, An launch increased approximately the important or we on all XXXX sales anticipate decision to marketing resources our the expect commercial importance decision B B vote clinical in market and hired highlight agreement HEPLISAV-B around commercialization in will HEPLISAV-B expand and We awareness a Additionally, which our universal ACIP, drive increased and we July, recommendation positive distribution October. believe value updating adults for driver in the to recovery additional for the field-based Immunization made a you In and expansion market of Bavarian Based B in on of potential first HEPLISAV-B. of including the footprint. Europe. Hepatitis the market increased

prospects call XXXX will over made excited return expansion the we through potential back a in to As market for progress see Don. significant walk Ryan launch business. in accounts, our we for the HEPLISAV-B. national I in a to in return near about vaccine CpG to steady both Thanks, utilization, continue targeted Europe, are long-term the accounts, field adjuvant now and planned market increasing and and progress share we very

an Kelly of on our our provides an the before it you update, let I As review value in HEPLISAV-B to our me our Don's progress leveraging turn to from update foundation adjuvant. results, company. important over can see for financial And provide

the while where to in adjuvant vaccine. has CpG to protection a doses profile adjuvanted with XXXX use As reminder, higher B HEPLISAV-B, compared generate demonstrated comparable alum a ability Hepatitis levels an is tolerability it of the fewer maintaining as

develop leveraging on focused this reactogenicity to are We effectively maintaining profile while the stimulate immune innovative new response vaccines. relatively low to

efforts across where providing Our different to vaccine of platforms. aimed we advanced most to COVID-XX vaccines at collaborators are vaccines, multiple CpG COVID-XX development the support are XXXX

made during of the contracts. programs the with tremendous and have collaborators vaccine progress Our both year, clinical purchase their advance

of potential Our XXX for organizations vaccine government XXXX, collaborators demand vaccines for non-government available. capacity and doses additional their currently through have with from adjuvanted over secured still million

capabilities we the the and CpG successfully production capacity support up from increase to During our our for collaborators. demand have XXXX to pandemic, expanded scaled

of the COVID-XX collaborators' continued revenue successful dependent development in Now, for future our programs. periods on our is

will current briefly and of of each trials. their unique clinical status I So program aspects review the the

million submission positive, be of Release study. responsible their these adjuvanted regulatory of subunit labs include It the being XX,XXX quarter of data sequencing is used executed evaluating variance authorities has of vaccine Gavi, severity, through protein to severe the data a for protection basis is COVAX concern including announced important efficacy with as additional will a Clover presence continents. China, First, four for provide Clover the this this infection. to conducted note study across Biopharmaceuticals against Europe is XXX current COVID-XX use placebo-controlled confirmed real-world expected for X over emergency agreement will multiple supply could disease. patients full vaccine the of in CpG data thereafter. If to XXXX an XXXX in identify the applications supply efficacy Phase is vaccine Alliance the their of various enrollment any in XX in with and doses WHO against trial for and of with efficacy protection along option doses vaccine of efficacy of This and Facility. an million in that view to

superiority primary X,XXX compared head-to-head Another U.K. in of XXXX collaborator, patients endpoint for the with AstraZeneca intended from use vaccine, application over against emergency a fall study this Valneva CpG is virus the to the the the EB year. immunogenicity study Data trial an whole in support and to evaluating The is this is inactivated adjuvanted vaccine in vaccine. in

data up ability supply program million to supported booster study by for important match Additionally, being in with to U.K. the agreement the Valneva will Valneva's a platforms. the U.K., their mix on XXX is of government doses provide which participating and in vaccines. development vaccine

a emergency in so for vaccine was to has XXX of entered Moving with is demonstrated CpG buying This that this is the vaccine government supply into with X,XXX a And in results patients. their Corporation and high trial for upon protein currently advance of happy for production study the arrangement, Phase Taiwan XXXX. adjuvant on report Indian of its clinical Under In safety funding vaccine study, conversion X collaborator. approximately inventory in in in an subunit XX.X%. E. years received a Biologics Vaccine X,XXX granted I government Biological available to data, trial recently This EUA use next authorization immunogenicity the with the server Phase this domain Indian approximately million contract use Five am X/X finally, of doses enrolling their provided has adjuvanted vaccine. India Medigene to immunogenicity authorization. CpG patients. XXXX. very that in vaccine trial the is rate our based receptor emergency

of panel XXX FDA results conducting that trial. included for EUA Taiwan Medigene supported AZ the were from the not by patients clinical the Additionally, to comparison the a in favorable vaccine a

$XXX funding one have Through agreement at schedules preparedness collaborators maximum multiple Although with these Medigene of for been the our each approximately supply capacity ultimately combination smaller including for to revenue in efforts programs equate of delivery, development which partners support in with in or our COVID-XX our our variables, opportunity million government timing production our in delivery this associated to marks collaborators, a and under we and our our and of many contingent vaccines. amount timing XXXX. advanced revenue is CEPI, recognition continued under contracts in on success EUA funding revenue an contracts. support of success opportunity of coalition to drives XXXX shipments important XXXX. collaborators, This able is to of contracts the with epidemic our The $XXX the CpG million

global extremely forward the of to upcoming to part to our are clinical proud portfolio. looking response pandemic We are diversified the partnership trial and results the across be

XXXX Tdap India. Beyond in COVID-XX, progress of CpG is our to being adjuvant collaboration with we vaccine, which Serum continue Institute developed in

data We from in adults Phase immunogenicity the adolescents expect year. to our ongoing in have X and safety of study next early part and

XXXX a Baboon and reduce proof-of-concept and the the disease and immunity may We pertussis will we that the for the results over in adjuvant package of This is symptoms vaccinated challenge believe to the Kelly I'll to detail. the financial opportunity vaccine strong bring now people discuss an for studies vaccination of ability for Additionally, bacteria. provide longer-lasting the to serve us a an market. exciting turn continue are human will improved colonization more our to vaccine impact to data our CpG on call spread nasal to to playing as disease. to leverage assess

Ryan. you, Thank

are included in afternoon. financial Our just release issued press the results we this

$XX.X our XXXX true second relates B to product million, We financials. vaccine our and as adjuvant sale revenues which As revenue to as quarter our million Ryan was $XX mentioned, $XX.X recorded quarters well total of from one partners. includes strongest CpG COVID-XX of of from that's to-date, as it especially collaboration HEPLISAV million net

marking recorded B restructuring net We hand representing $XX.X with net sales increased of debt million, recorded to second We and million The financial in growth capital also net and $XXX demand with sales cash, securities on our a by quarter quarter driven income equivalents last utilization. our and the performance. is May. highest of primarily increased row, from $X.X year. Starting HEPLISAV million, second structure of recorded in exited profitable the million with and have quarter GAAP quarterly strengthen of cash significant in marketable year-over-year growth steps taken approximately of $X.X successful we a our

XX% to of to and important indicators progress lead towards growth field excited very as see utilization share most market our the levels. this targeted As continued Donn continues one to pre-pandemic believe mentioned, is in we're

CpG with on revenue our in collaboration sales We $XX to to the revenues. product recorded partners COVID-XX Moving adjuvant in XXXX million second our quarter. associated

executed As commercial mentioned, of and in each recently, supply CpG Biological most significant agreements, in to we And Clover have we four July. June previously E. continue XXXX Biopharmaceuticals our progress with partnerships. to-date, including make

commercial these of gross highlighted, the to our supporting in and scheduled corresponding of corresponding the under timing revenue and half under Ryan those revenue Both in on and continued contracts. middle supply partners XX% countries, begin recognized settle aggregate in These shipments the represent delivery. quarter. we partners' opportunity we drive as remain As ultimately amount time. the XXXX, Further, currently product in of about $XXX these shipments of factors each timing of selling success margins range and scheduled will income these expect million over revenue to with low $XXX XXXX our CpG approximately million product contingent fourth to shipments agreements

mix. margins of number factors, a associated including As sale are XXXX reminder, CpG gross customer with a on dependent

to Turning our balance sheet.

XXXX, As cash, carried on XX, June of million of $XXX and securities equivalents marketable approximately we cash hand.

XXXX, had CpG amounts revenue material. recorded June partners the of we of current of prior as which of XX, from million, to binding consisted our $XXX deferred XXXX Additionally, primarily shipment collaboration contractually approximately

deferred As from revenue of $XXX we've June XX, we XXXX, that associated long-term approximately also received of cash the CEPI. had with million

CEPI the grantees, Clover manufacturer a of loan XXXX As E. forgivable reminder, and the CpG CEPI Bio fully enables including for

an lower capital May the due debt. and million in over notes our next our Moving effort interest XXXX. In on we our few to restructured expense and this our X.X% to $XXX.X years, strengthen structure debt past convertible by issuing

retired With all entirety, these term proceeds, X.X% loan in we its associated covenants. our along with

these We value a based of and effect and the from to the effective We in our we to, cap to option proceeds notes that of dilutive are believe conversion intent convertible will projections, price. potential the the it current invest par use increasing the in call, to of portion settle on cash the is instrument our have aware cash. the issuance

an from and decision it to maturities adjuvant structure multiple basis readout including next debt of growth time we for business B anticipated XXXX and as lowers match Hepatitis few to while on COVID-XX by to still significant strategic milestones potential multiple XXXX, allows collaborators. better behind we're XXXX data CpG a important with HEPLISAV-B and the our looking vaccination business and our make CpG recommendation interest progress our on forward over approximately our as summary, partnerships, both continue $XX adult vaccine maintaining in million core with our expense years, well ACIP catalysts universal In the and annualized enables flexibility. over operational debt new us Our investment our

to of further Q&A valuable today's of our like validates second quarter our throughout our two year. open and Operator, to their the assets, updating you would for forward we we commitment in corporate rest and of strategy the for all now look success members the investors We on the to portion Our call. progress the our team Dynavax. thank

[Operator from and Instructions] the Nadeau Company. question from Phil line We Cowen first our of have

Congrats on the progress.

this next this say the is think can you have that of the where discrete is those for over trucks now year? year, there'll a disclosure visibility million Do you year until revenues? Or revenue that $XXX over? Appreciating investors you what can What $XXX indicating points is cited to when back your strategy we million on revenue question opportunity of the that it for know quarter for back-end year. won't First really on be guaranteed so certain is you noted. recognize that lot are is you amotivation to the

as as component progress the our their to crux The really success, regulatory and of Obviously, the to a vaccine, very revenue ability the is of specifically. deliver manufacture well focus a that clinical having approval as project the insights on is Phil. continue supplier their of Thanks, collaborators. level question of to to of commitments critical right be to able eventual all on more

our so across on those variables. plans on certainty communication increasing based are And

move So sense. data we a see it. path forward on makes the more we That need lot can to Got and EUA really the before to specific. of be

the Second Are on increase are force increases do hope the almost share targeted that the handle being to want expansion greater of of you you expect of at going What question members? Donn, members current accounts? the Or do increase sales force? in one? to of the XX% the size added. even accounts? the to targeted drive the is How in deploy the number sales to XX you priorities those with

channel. sure, think basically, the Phil. essentially, as up institution, the of question. the at engaging Yes, it's about currently, force sales top footprint, the Basically, Thanks for we opening the the

the sales clinics XX be for pull-through. associated professionals are clinics, additional targeting the the predominantly it's So to going

timing to especially opportunity these deploy there, the channel on pull-through is The large And many at clinic right of so level, additional drive the we open to as there's market now that resources continue share. is in we believe institutions.

lot it. on with points I'm also question XXX basis thoughts like up And curious makes of recovery HEPLISAV. future last in utilization adult QX. the trends the It then Got a versus get gradual sounds market a sense. there. vaccine QX That you're seeing your on like to

have second Delta a is because vaccinations return market to you the normal down, more Or hard makes year? the the vaccination dynamics do too adult Now in the rapid COVID just in expect seems that half it variant of to to say slowed tricky?

is It variant a weeks mean, on our that's quickly Delta from ability the I customers the weeks. several especially and the can Phil, say, so come speak difficult so engage to over several with last I and customer rapidly. to has changed not over perspective

very the daily recovery marketplace. So it we'll customers But essentially variant. happening to we to ability on in strong. relates the happening of like Delta steady remain monitor to think But what's everyone be what's I else, to again, confident the continue continues engage our as

next comes Matt the Phipps Our from question of Blair. from line William

maybe assume of across you but us Can as kind HBV things for into well any congrats market fall like travel some of give more on offer -- the as And channels? a any does utilization? you utilization let different employee me kind far the more Phil's vaccines up my execution give granular these continued I Can dialysis, of would last detail on the nice be of breakdown in help like as following obviously, like some question. there. than, Donn, done where kind

Yes.

bases utilization overall, overall is is little in a segment DOD, there's the worse Public in was IDN new really reported consistent similar health very then the it from than dialysis, whatsoever and again, the a But about less. And much, conversely, utilization. they're as the IDN XXXX. to standpoint. hospital of minor we But on in in utilization overall the market is back where the a So sense with bit decline in we much as segment, relative marketplace. see what no the impact recruit the same then is

that the now. right With most being, public So pandemic impacted is by by segment. the vary it segment does probably health really

the to entity, kind Great. A was an usually quarter you that years, cover here? this DOD were DODs case be that Or was recruiting? the last and but similar, purchase strong large QX might in expect maybe it QX. in year their enough past Do summer full purchases of

the QX for calls, quarters the that the Certainly, be Like and past, QX in the in as do in we preparation four upon And quarter true quarter the in anticipate ahead. the summer we period. QX purchasing continued you saw most quarter to second throughout counts that looking surge. tend we've purchases previous throughout see utilization throughout years based mentioned occur

So ahead. this thing we expect again the purchases year, we'll continued see looking and throughout QX same

bit Great. the one the I like on It a But comment slides, that question. can -- dialysis small. activity you based little in then of was quarter if a looks last on still the And really think kind purchase on the provider of was of bolus one purchase little -- looks a quarter? additional comments it said any staff. first was in all like dialysis was and more what But they segment bit for

So time on there to what we see based trade. on the just It's do time. from class you see of slide,

smaller there the small really some represent there throughout marketplace. the those that's throughout some market. you doses by spatter on happening And with country purchasing very dialysis clinics is various the just see happening So throughout slide the clinics what purchasing is that outlets,

line next Josh Schimmer from from Instructions] our question [Operator Evicore. We the of have

and HEPLISAV's in topic outlook might want the you to you just prepared I it with the Q&A the deliver like little depending quarter. sounds strong as happen that the but answer bit and of exceptionally confidence, quarters a In on sounded even coming some franchise of the to the remarks, a in market the for follow-up results ability on what outlook. to recovers, on wavered Congrats the in pandemic. maybe on confident

be quarter in adjuvant the different in for give gross That slightly you the the XXXX color on CpG HEPLISAV getting tones then that any And So would what maybe us for versus second, could if felt of kind commentary? first sales? like reconcile helpful. very margins

that let revenue about Josh, about Kelly hearing why growth. don't I'll we're is I continued then What take and talk you're excited question, the very margins. tone

increased customers, ability advancing including share headcount. ability hiring cater additional and Our market generate by our continue capabilities to to our to

of other presence utilization, the control we think I we can't especially the commentary an for environment What is control. emerging can the that COVID-XX. part those the of are in things dynamic is market

I to that's that find where think So we're balance. trying

like discrete like continue period progress Delta, on time, utilization, Although saw come we with will see over a we're to of do the we of resurgence forward believe event can with very we up a while dealing pandemic. things always

really to ability just But revenue. very continue those it's handle to want our margin Kelly, question? So balancing factors. the you we're about drive confident to

Sure. Consistent discuss with QX, gross margins the for anything changed the for sounded outcome Has further quarter also came in you around in recommendations. the XX% ACIP to for meeting? quite working HEPLISAV. the that Great. And of increase outlook confidence then universal in to confident your group

sort early vote. were of The October on Hepatitis work B be was as frame going group they agenda to the when time the as on the far for by stated

vote, evidence two-step think information grade ACIP for September process, one meeting recommendation XX the to June. happen like The piece of I that was register is showed prior will a should June, to review, to been the There now and an evidence has part the meeting That and agenda that that recommendation in XXth. happen Federal expected is meeting, in although the not ACIP is on public. present -- we rescheduled. to didn't share which happen of the we the they had meeting

outcome happened have the that specific into So other which is that track on other insight We for the this some don't dialogue positive. in of any very that confidence although an added February, they October does are vote. than vote, provide

of Our from Wainwright. next Ed from question line H.C. comes the White

quarter. Congratulations a on great

means. question Just a the on and what meeting it ACIP

immediate or Or about this out So a if do on thinking forward? the demand we plays going a in for early are are we XXXX how you of vote, have positive XXXX? impact basis how an part looking

Don?

The like for the the of a to going disease it's it kind part additional around estimates our HEPLISAV just of marketplace, work getting I bit thanks itself question. to of kind time to to it, from this, the believe Hepatitis XX more it's When XX% recommendations B. and certainly, accepted help bigger around the about anywhere increase the vaccines, the from for out market the about it it But time build it to going Yes, X mentioned we way preliminary these of and has XX time before, to to will of that we done think the into to market. picture, investment take that. we take relates awareness continue of independents on market happen some a as our around from little foundation something think next ACIP, of recommendation as to needs the XXX% a impact to does be as take the expand preliminary to that's over years. effect take will the And for other impact types things other it with for just estimate,

the add the the wondering these thinking be should going for you I'm about don't give how guidance, SG&A and year? we did just to members sales importantly, XX just expense but maybe And forward SG&A. new typically know a more question perhaps on you I of don't R&D R&D and team. rest

Kelly?

Ed. Firstly, thanks for the question,

associated can look an perspective, historically ballpark with Phase it's in see connection general you certain our So if quarter-to-quarterized investments. X with same fluctuations you timing in the trend, with closely expenses of R&D speaking of from our all at just

However, cost an QX XX predict million believe perspective, ballpark the annualized would the to between that on QX. $X us in rest last of we million that the trend $X a anticipate in From the quarters, two in that of million and basis $X.X kind roughly the represents headcount million for SG&A of this year. $X.X We will a year.

Phipps William next from of line question Blair. from the Our Matt comes

having more. they that they've adjuvants, to call been future vaccines around your know on discussions some one governments don't back any go I or recent these I pandemic it did To earnings pandemics. for statement stockpiling, directly the of their with if

had with far guys with CEPI, but collaboration have these you've if as governments? you if you gone the as wondering Just have Obviously, discussions? talking any specific

of yet, Matt. as Not

flu one vaccines is -- about to just that that's different adjuvant been be that, GSK's pandemic historically. for think clear, things the has pandemic I of adjuvant about approved

leveraging And approval they so potential it it relates would be has supply. a likely to that vaccine pandemic as

a Something past, is they've my that not in the guess, before point. I done of business It's line for adjuvant. new

ability have approvals we has for vaccines. future. likely and for government's obviously, plan as conversations of plans desire Our levels they every will evolve to to how to And that similar preparedness in correspond the receive adjuvanted then GSK's pandemic

the pandemic but to we need on the first. list, through So get approvals

have this further would We time. now over like Ryan remarks. the for CEO, call questions no to closing to Spencer, at I turn

Thank you, operator.

half second to the goal to build support of a COVID-XX vaccines believe company. requires We we demand. Dynavax' on ahead global our look we As the leading 'XX, to additional to execute evolving vaccine the to pandemic continue

CpG adjuvant XXXX Dynavax be this drive history, for has part our growth and of it positioned believe shareholders. and collaborations has in through significant is to the Our quarterly driven potential Company's XXXX further already we revenue a largest CpG its and well global to the solution. value

the also to vaccine. of while being of our Now which grow source the growth through a we revenue market-leading continue supporting we value continued HEPLISAV-B, the B to sales believe business currently adult of long-term Hepatitis against along is priority, is a the we creation key fight COVID drive forward path as

with HEPLISAV-B in to quarter. record resulting belief the seeing product continues reinforced in traction are we Our opportunity this and long-term be revenue the with market

call. opportunities may the us of Operator, for Dynavax. strength CpG XXXX combined today. on the you the you for year end be With will and XXXX, believe call transformational HEPLISAV-B a Thank joining from we

gentlemen, Ladies today's thank This you joining today. for and call. conference concludes us

disconnect. now may You