DVAX · As filed with the SEC
Dynavax Technologies cash flow statement, by fiscal year
The statement as Dynavax Technologies presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income (loss) | 27,309 | (6,389) | 293,156 | 76,713 | (75,240) | (152,600) | (158,899) | (95,154) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 4,627 | 4,342 | 3,812 | 4,296 | 4,273 | 8,938 | 3,621 | 3,244 |
| Amortization of right-of-use assets | — | — | — | 2,715,000 | 2,562,000 | 3,375,000 | — | — |
| Loss (gain) on disposal of property and equipment | — | — | — | — | — | 18,000 | 98,000 | (10,000) |
| Amortization of right-of-use assets | 3,425 | 2,934 | 2,856 | — | — | — | — | — |
| Inventory write-off | 3,144 | 0 | 34,288 | 2,588 | — | — | — | — |
| Loss (gain) on disposal of property and equipment and from lease termination | — | — | 0 | 47,000 | (98,000) | — | — | — |
| Sublease termination loss (Note 8) | 4,814 | — | — | — | — | — | — | — |
| Amortization of premiums (accretion of discounts) on marketable securities | (14,545) | (16,555) | (4,181) | 470 | 535 | (1,462) | (1,559) | (193) |
| Realized gain on available-for-sale securities | — | — | — | — | (57,000) | — | — | — |
| Realized gain on available-for-sale securities | — | — | 0 | — | — | — | — | — |
| Loss on debt extinguishment | — | 0 | 0 | (5,232,000) | — | — | — | — |
| Change in fair value of warrant liability | 0 | 0 | (1,801) | 49,354 | (4,124) | 7,500 | — | — |
| Reversal of deferred rent upon lease amendment | — | — | — | — | — | — | — | (209,000) |
| Cash-settled portion of stock compensation expense | — | — | — | — | — | — | 0 | 0 |
| Stock-based compensation expense | 52,619 | 42,592 | 32,915 | 21,285 | 13,484 | 25,456 | 23,478 | 14,917 |
| Amortization of intangible assets | — | — | — | — | — | — | — | 1,194,000 |
| Cost of sales - amortization of intangible assets | — | — | 0 | 0 | 2,500,000 | 9,217,000 | 10,862,000 | — |
| Non-cash interest expense | 1,156 | 1,120 | 1,088 | 1,608 | 2,542 | 4,973 | 2,755 | — |
| Tenant improvements provided by the landlord | — | — | 0 | — | 1,137,000 | 6,999,000 | — | — |
| Gain on sale of assets | 0 | (1,000) | (1,000) | (1,000) | (6,851) | — | — | — |
| Bad debt expense (Note 9) | 0 | 12,313 | — | — | — | — | — | — |
| Changes in operating assets and liabilities: | ||||||||
| Accounts and other receivables, net | (2,373) | 43,268 | (15,699) | (109,155) | (13,775) | (5,182) | (2,850) | 488 |
| Inventories | (19,909) | 3,909 | (32,399) | (234) | (22,357) | (22,310) | (18,710) | (312) |
| Prepaid manufacturing | 0 | 0 | 159,655 | (130,232) | (29,423) | — | — | — |
| Prepaid expenses and other current assets | (3,110) | (4,673) | (11,865) | (64,558) | (1,826) | (1,278) | (2,405) | (1,830) |
| Restricted cash and other assets | — | — | — | — | — | — | — | (936,000) |
| Other assets | (1,190) | 570 | 87 | 175 | (229) | 1,632 | (3,706) | — |
| Accounts payable | 3,899 | 1,952 | 691 | (767) | (3,448) | 4,848 | 3,417 | (1,915) |
| CEPI accrual (Note 9) | — | — | (21,110,000) | 128,848,000 | — | — | — | — |
| CEPI accrual (Note 9) | 0 | 0 | — | — | — | — | — | — |
| Lease liabilities | (4,387) | (3,629) | (3,125) | 3,234 | (2,872) | (2,000) | — | — |
| Deferred revenue | 0 | 0 | (349,864) | 311,652 | 38,212 | — | — | — |
| Net cash used in operating activities | — | — | — | — | — | — | — | (77,518,000) |
| Accrued and other liabilities | 11,033 | 19,809 | (24,788) | 39,725 | 2,804 | (9,376) | 12,597 | 3,198 |
| Net cash provided by operating activities | 66,512 | 100,563 | 62,716 | 335,528 | (92,251) | (121,252) | (131,301) | — |
| Investing activities | ||||||||
| Acquisition of technology licenses | — | — | 0 | — | (7,000,000) | (7,000,000) | (11,000,000) | — |
| Purchases of marketable securities | (524,063) | (636,921) | (632,306) | (164,928) | (201,786) | (215,191) | (213,804) | (227,672) |
| Proceeds from maturities and redemptions of marketable securities | 512,380 | 486,097 | 322,450 | 187,630 | 148,565 | 201,810 | 284,457 | 119,638 |
| Proceeds from sales of marketable securities | — | — | 0 | — | 30,910,000 | — | — | — |
| Purchases of property and equipment, net | (6,352) | (4,104) | (7,139) | (9,477) | (4,072) | (22,401) | (4,187) | (669) |
| Net cash (used in) provided by investing activities | — | — | — | — | — | — | — | (108,703,000) |
| Proceeds from sale of assets, net of transaction costs | 0 | 1,000 | 1,000 | 1,000 | 6,851 | — | — | — |
| Net cash used in investing activities | (18,035) | (153,928) | (315,995) | 14,225 | (26,532) | (42,782) | 55,466 | — |
| Financing activities | ||||||||
| Proceeds from long-term debt, net | — | — | — | — | — | 74,250,000 | 99,000,000 | — |
| Proceeds from issuances of common stock, net | — | 0 | 0 | 28,156,000 | 108,538,000 | 65,948,000 | — | 185,936,000 |
| Proceeds (withholding) from exercise of stock options and restricted stock awards, net | — | — | — | — | — | — | — | 1,613,000 |
| Proceeds from issuances of preferred stock, net | — | — | — | — | — | 13,586 | — | — |
| Proceeds (tax withholding) from exercise of stock options and restricted stock awards, net | — | — | — | — | — | 2,000 | (523,000) | — |
| Proceeds from issuance of Convertible Notes, net | — | 0 | 0 | 219,822,000 | — | — | — | — |
| Purchases of capped call options | — | 0 | 0 | 27,240,000 | — | — | — | — |
| Repayment of long-term debt | — | 0 | 0 | 190,194,000 | — | — | — | — |
| Payments for repurchase of common stock | (100,000) | — | — | — | — | — | — | — |
| Proceeds from warrants exercises | 0 | 0 | 8,455 | 17,814 | — | — | — | — |
| Net cash provided by financing activities | — | — | — | — | — | — | — | 187,842,000 |
| Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | — | 674,000 |
| Net increase (decrease) in cash and cash equivalents | — | — | — | — | — | — | — | 2,295,000 |
| Cash and cash equivalents at beginning of year | — | — | — | — | — | — | 26,584,000 | 24,289,000 |
| Cash and cash equivalents at end of year | — | — | — | — | — | — | — | 26,584,000 |
| Proceeds from exercise of stock options and/or release of restricted stock awards, net | 5,529 | 6,360 | 9,639 | 6,577 | 289 | — | — | — |
| Proceeds from Employee Stock Purchase Plan | 1,760 | 1,535 | 1,431 | 841 | 672 | 565 | 594 | 293 |
| Payments for taxes related to net share settlement of RSUs | (9,306) | (6,509) | — | — | — | — | — | — |
| Net cash (used in) provided by financing activities | (102,017) | 1,386 | 19,525 | 55,776 | 109,499 | 154,351 | 99,071 | — |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash | (862) | 324 | (443) | (1,431) | 1,494 | (184) | (482) | — |
| Net decrease in cash and cash equivalents, and restricted cash | (54,402) | (51,655) | (234,197) | 404,098 | (7,790) | (9,867) | 22,754 | — |
| Cash and cash equivalents, and restricted cash at beginning of year | 150,556 | 202,211 | 436,408 | 32,310 | 40,100 | 49,967 | 27,213 | — |
| Cash and cash equivalents, and restricted cash at end of year | 96,154 | 150,556 | 202,211 | 436,408 | 32,310 | 40,100 | 49,967 | — |
| Supplemental disclosure of cash flow information | ||||||||
| Cash paid during the year for income taxes | 4,585 | 2,014 | 2,208 | 1,312 | — | — | — | — |
| Cash paid during the year for interest | 5,638 | 5,638 | 5,638 | 9,815 | 16,541 | 12,147 | 6,583 | — |
| Release of accrual for litigation settlement and insurance recovery | — | — | — | — | — | — | — | 4,975,000 |
| Reclassification of contract asset from other current assets to other assets | 0 | 71,307 | — | — | — | — | — | — |
| Reclassification of CEPI accrual to CEPI accrual long-term | 0 | (60,337) | — | — | — | — | — | — |
| Non-cash investing and financing activities: | ||||||||
| Disposal of fully depreciated property and equipment | — | — | — | — | — | — | 199,000 | 86,000 |
| Net change in unrealized (loss) gain on marketable securities | — | — | — | — | — | — | — | (83,000) |
| Non-cash acquisition of technology license | — | — | — | — | — | — | 12,773 | — |
| Purchases of property and equipment, not yet paid | 1,723 | 299 | 1,015 | 591 | 361 | 2,698 | — | — |
| Proceeds allocated to warrant liability at issuance | — | — | — | — | — | 7,360,000 | — | — |
| Right-of-use assets obtained in exchange for operating lease liabilities | 925 | 1,332 | 2,848 | 2,468 | — | 40,626 | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.