Dynavax (DVAX) AI Stock Analysis

• Market Cap: $1.27B
• Dividend Yield: N/A
• Average Volume (3M): 1.69M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: 26.73%
• EPS Growth: -310.39%
• Country: US
• Employees: 405
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.21
• Shares Outstanding: 117,424,965
• 10 Day Avg. Volume: 1,480,259
• 30 Day Avg. Volume: 1,693,242
• PEG Ratio: -0.12
• Price to Book (P/B): 2.78
• Price to Sales (P/S): 5.99
• P/FCF Ratio: 27.60
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 3.02
• Enterprise Value/Gross Profit: 3.63
• Enterprise Value/Ebitda: -38.85
• 1Y Price Target: $20.50
• Price Target Upside: 88.59% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: $12.50 ▲(15.00% Upside)

Dynavax's strong earnings call and positive technical indicators are significant strengths, reflecting strategic growth and market momentum. However, profitability challenges and valuation concerns moderate the overall score.

Positive Factors

Revenue Growth

The consistent revenue growth of HEPLISAV-B indicates strong product demand and market penetration, supporting Dynavax's long-term revenue prospects.

Strategic Partnerships

The partnership with Vaxart enhances Dynavax's product pipeline, potentially expanding its market presence and diversifying revenue sources.

Shareholder Value

The share repurchase program underscores management's confidence in Dynavax's financial health and commitment to returning value to shareholders.

Negative Factors

Profitability Challenges

Negative profitability metrics indicate potential issues in cost management or pricing strategy, which could affect long-term financial stability.

Cash Position Decrease

The reduction in cash reserves may limit Dynavax's ability to invest in growth opportunities or weather financial downturns, impacting its strategic flexibility.

Seasonality Impact

Seasonal demand fluctuations can lead to revenue volatility, complicating financial planning and potentially affecting investor confidence.

Dynavax Business Overview & Revenue Model

Company Description

Dynavax Technologies Corporation, a biopharmaceutical company, focuses on developing and commercializing novel vaccines in the United States. The company markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe. It also manufactures and sells CpG 1018, the adjuvant used in HEPLISAV-B. Dynavax Technologies Corporation has a collaboration agreement with Valneva Scotland Limited; agreement with Serum Institute of India Pvt. Ltd.; and sublicense agreement with Merck, Sharp & Dohme Corp. The company was formerly known as Double Helix Corporation and changed its name to Dynavax Technologies Corporation in September 1996. Dynavax Technologies Corporation was incorporated in 1996 and is headquartered in Emeryville, California.

How the Company Makes Money

Dynavax generates revenue primarily through the sale of its commercialized products, particularly HEPLISAV-B. The company benefits from a revenue model that includes direct sales to healthcare providers and partnerships with larger pharmaceutical companies for distribution and marketing. Additionally, Dynavax may receive milestone payments and royalties from collaborations and licensing agreements with other firms, which further contribute to its earnings. The company also focuses on expanding its product pipeline, which could lead to additional revenue streams in the future as new therapies and vaccines are developed and brought to market.

Dynavax Financial Statement Overview

Summary

Dynavax shows positive revenue and cash flow growth, with a strong gross profit margin. However, profitability is a concern due to negative net income and EBIT margins. The balance sheet is stable with manageable leverage, but improvement in return on equity is needed.

Income Statement

Dynavax has shown a positive revenue growth rate of 4.5% in the TTM, indicating a recovery from previous declines. However, the company is currently experiencing negative net profit and EBIT margins, which highlight profitability challenges. The gross profit margin remains strong at over 82%, suggesting efficient cost management.

Balance Sheet

The debt-to-equity ratio has improved to 0.58 in the TTM, reflecting a manageable level of leverage. However, the return on equity is negative, indicating that the company is not generating sufficient returns on shareholders' equity. The equity ratio is stable, suggesting a solid capital structure.

Cash Flow

Dynavax's cash flow performance is strong, with a significant free cash flow growth rate of 21.9% in the TTM. The operating cash flow to net income ratio is healthy, indicating good cash generation relative to earnings. However, the free cash flow to net income ratio suggests that cash flow is not fully translating into net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	330.51M	277.25M	232.28M	722.68M	439.44M	46.55M
Gross Profit	274.90M	227.80M	182.12M	460.53M	265.87M	32.64M
EBITDA	-25.65M	45.70M	9.67M	307.70M	95.75M	-46.84M
Net Income	-43.40M	27.31M	-6.39M	293.16M	76.71M	-75.24M
Balance Sheet
Total Assets	946.51M	986.26M	997.10M	985.85M	1.04B	353.27M
Cash, Cash Equivalents and Short-Term Investments	647.82M	713.83M	742.30M	624.39M	545.95M	165.04M
Total Debt	285.02M	254.42M	256.91M	258.01M	257.38M	217.85M
Total Liabilities	412.37M	389.46M	375.02M	404.84M	816.87M	294.58M
Stockholders Equity	534.14M	596.80M	622.07M	581.01M	222.37M	58.69M
Cash Flow
Free Cash Flow	80.54M	60.16M	96.46M	55.58M	326.05M	-103.32M
Operating Cash Flow	90.63M	66.51M	100.56M	62.72M	335.53M	-92.25M
Investing Cash Flow	152.39M	-18.04M	-153.93M	-316.00M	14.22M	-26.53M
Financing Cash Flow	-202.74M	-102.02M	1.39M	19.52M	55.78M	109.50M

Dynavax Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.87
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DVAX, the sentiment is Positive. The current price of 10.87 is below the 20-day moving average (MA) of 10.99, above the 50-day MA of 10.68, and above the 200-day MA of 10.81, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 50.02 is Neutral, neither overbought nor oversold. The STOCH value of 29.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DVAX.

Dynavax Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMPH	77 Outperform	$1.20B	11.75	14.84%	―	-0.03%	-27.66%
COLL	71 Outperform	$1.55B	30.70	22.96%	―	26.34%	-32.79%
DVAX	70 Outperform	$1.27B	-28.46	-7.14%	―	26.73%	-310.39%
PCRX	69 Neutral	$1.14B	58.01	2.90%	―	3.14%	―
ANIP	64 Neutral	$1.85B	50.80	7.83%	―	48.87%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EVO	46 Neutral	$1.08B	-5.90	-17.46%	―	-1.19%	5.06%

Dynavax Corporate Events

Dynavax Announces Management Restructuring Changes

On October 15, 2025, Dynavax Technologies Corporation’s Board of Directors approved changes in its management structure. David F. Novack will transition from his roles as President and Chief Operating Officer to Senior Vice President and Chief Operating Officer, effective January 1, 2026. Additionally, Robert Janssen, M.D. will be removed from his roles as Chief Medical Officer and Senior Vice President, Clinical Development, Medical and Regulatory Affairs, with his employment concluding by March 2, 2026, as the company searches for a successor.