Posted 2/22/2024, 9:44:42 PM
Dynavax Soars on HEPLISAV-B Strength, Guides Higher 2024 Revenue Despite Lower 2023 Net
- HEPLISAV-B revenue surged 69% year-over-year to $213 million in 2023, achieving market leadership and 42% U.S. market share
- 2024 revenue guidance projects continued HEPLISAV-B growth to $265-$280 million, with positive cash flow expected
- Robust cash position of $742 million at year-end 2023 after completion of COVID-19 agreement obligations
- R&D expenses rose to advance clinical and preclinical programs, underscoring pipeline investment
- GAAP net loss of $6.4 million for 2023, contrasting with $293.2 million net income in 2022, primarily due to absence of COVID-19 revenue