Dynavax Technologies Corporation (NASDAQ:DVAX) has reported Q3 2020 financial results in which it posted a record HEPLISAV-B® net revenue of $11.6 million since its launch.
HEPLISAV-B set record revenue in Q3 2020 as vaccine market recover
Ryan Spencer, the company’s CEO, said that the COVID-19 pandemic underwrites the need to develop novel and effective vaccines. He said that the Dynavax team is leveraging its vaccine development and marketing expertise to create an entity around its FDA-Approved HEPLISAV-B®, hepatitis B vaccine, and other pipelines of opportunities supported by the CpG 1018 vaccine adjuvant. Spencer said that they believe the vaccine can become a standard of care in the US.
According to Spencer, the vaccine market is recovering from the massive declines witnessed in Q1 and Q2 2020. Most notably, the hepatitis B vaccine market has recovered around 75% YoY. As a result, HEPLISAV-B sales have shown strong momentum as per success seen in major national accounts and in field targeted account market leading to record Q3 revenue.
Dynavax enters the supply agreement with Valneva
Spencer also confirmed that the company had signed several collaborations for developing adjuvanted vaccines in several indications that include COVID-19, universal flu, and TdaP. The CpG 1018 portfolio’s opportunities are driving the next growth phase beyond HEPLISAV-B, as witnessed in the commercial supply deal with Valneva. Following the agreement, Dynavax will supply Valneva with CpG 1018 for the production of between 60 and 100 million vaccine doses in 2021. Valneva has the option of purchasing CpG 1018 for the production of an additional 90 million vaccine doses through 2024. The company has the potential of CpG 1018 revenue in 2021 or around $130 to$230 million through the deal.
This year the company has attained several milestones. They include final immunogenicity data from the HEPLISAV-B study in hemodialysis patients that will be out in Q4, with publication expected in 1H 2021. Also, the company expects to complete safety follow-ups for HEPLISAV-B post-marketing studies in Q4 and will release the final report in Q2 2020.