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Dynavax Technologies Corporation (DVAX)

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Upturn Advisory Summary
12/11/2025: DVAX (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $19.25
1 Year Target Price $19.25
| 2 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -2.06% | Avg. Invested days 38 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() | Upturn Advisory Performance | Stock Returns Performance |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.28B USD | Price to earnings Ratio - | 1Y Target Price 19.25 |
Price to earnings Ratio - | 1Y Target Price 19.25 | ||
Volume (30-day avg) 4 | Beta 0.89 | 52 Weeks Range 9.20 - 14.63 | Updated Date 12/11/2025 |
52 Weeks Range 9.20 - 14.63 | Updated Date 12/11/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.37 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -13.13% | Operating Margin (TTM) 24.77% |
Management Effectiveness
Return on Assets (TTM) 1.2% | Return on Equity (TTM) -7.14% |
Valuation
Trailing PE - | Forward PE 57.47 | Enterprise Value 918315400 | Price to Sales(TTM) 3.86 |
Enterprise Value 918315400 | Price to Sales(TTM) 3.86 | ||
Enterprise Value to Revenue 2.78 | Enterprise Value to EBITDA 30.92 | Shares Outstanding 117424968 | Shares Floating 101131079 |
Shares Outstanding 117424968 | Shares Floating 101131079 | ||
Percent Insiders 0.6 | Percent Institutions 98.62 |
Upturn AI SWOT
Dynavax Technologies Corporation

Company Overview
History and Background
Dynavax Technologies Corporation was founded in 1991 and has focused on developing novel vaccine adjuvants and therapeutics. A significant milestone was the development and commercialization of HEPLISAV-B, a hepatitis B vaccine. The company has evolved from a research-stage biotechnology firm to a commercial-stage vaccine company.
Core Business Areas
- Vaccine Adjuvant Technology: Dynavax's core business revolves around its proprietary Toll-like Receptor (TLR) 9 agonist adjuvant platform, known as CpG 1018. This technology is designed to enhance the immunogenicity and efficacy of vaccines.
- Vaccine Development and Commercialization: The company focuses on developing and commercializing vaccines for unmet medical needs. Their primary commercial product is HEPLISAV-B.
Leadership and Structure
Dynavax Technologies Corporation is led by a management team with expertise in biotechnology, vaccine development, and commercialization. The organizational structure is typical of a publicly traded biopharmaceutical company, with departments for research and development, clinical operations, manufacturing, commercial, and corporate functions.
Top Products and Market Share
Key Offerings
- HEPLISAV-B (Hepatitis B Vaccine): HEPLISAV-B is a vaccine for the prevention of infection caused by all known genotypes of the hepatitis B virus in adults 18 years of age and older. It utilizes Dynavax's CpG 1018 adjuvant. Competitors include Engerix-B (GSK) and Twinrix (GSK). Market share data is proprietary but HEPLISAV-B has gained significant traction in the adult hepatitis B vaccine market.
- CpG 1018 Adjuvant: The CpG 1018 adjuvant is a key component used in HEPLISAV-B and is licensed or partnered for use in other vaccine candidates. Its effectiveness in boosting immune responses is a significant driver of value. Market share is tied to the success of partnered vaccines.
Market Dynamics
Industry Overview
The vaccine market is a rapidly growing segment of the biopharmaceutical industry, driven by increasing awareness of infectious diseases, advancements in vaccine technology, and government immunization programs. The adjuvant market, in particular, is seeing innovation to improve vaccine efficacy and broaden applications.
Positioning
Dynavax is positioned as a commercial-stage vaccine company with a differentiated adjuvant technology. Its strength lies in its approved product, HEPLISAV-B, and its proprietary CpG 1018 adjuvant platform, which offers a competitive advantage in developing more effective vaccines. The company aims to be a leader in adult and potentially adolescent vaccination markets.
Total Addressable Market (TAM)
The TAM for hepatitis B vaccines is substantial, encompassing global adult and adolescent populations. The broader vaccine adjuvant market is also significant, as adjuvants are becoming increasingly crucial for next-generation vaccines. Dynavax is positioned to capture a share of the adult hepatitis B market with HEPLISAV-B and has the potential to expand its reach through partnerships leveraging its CpG 1018 adjuvant.
Upturn SWOT Analysis
Strengths
- Proprietary CpG 1018 adjuvant technology with demonstrated efficacy.
- Commercially approved and successful product (HEPLISAV-B).
- Experienced management team.
- Strong scientific foundation in immunology and vaccinology.
Weaknesses
- Dependence on a limited number of products and partnerships.
- Relatively small market share compared to established large pharmaceutical vaccine divisions.
- Potential for manufacturing or supply chain challenges.
- Ongoing need for capital to fund R&D and commercialization efforts.
Opportunities
- Expansion of HEPLISAV-B indications or target populations.
- Development of new vaccines utilizing the CpG 1018 adjuvant for other infectious diseases or therapeutic areas (e.g., oncology).
- Strategic partnerships and licensing agreements for the CpG 1018 adjuvant.
- Leveraging adjuvant technology to address emerging infectious disease threats.
Threats
- Competition from existing and novel vaccine technologies.
- Regulatory hurdles and delays in product approval.
- Reimbursement challenges and payer resistance.
- Adverse events or safety concerns associated with its products or technology.
- Changes in public health policies and vaccine market dynamics.
Competitors and Market Share
Key Competitors
- GSK (US Stock Symbol: GSK)
- Merck & Co., Inc. (US Stock Symbol: MRK)
- Pfizer Inc. (US Stock Symbol: PFE)
Competitive Landscape
Dynavax competes in a landscape dominated by large pharmaceutical companies with extensive vaccine portfolios. Its competitive advantage lies in its differentiated adjuvant technology and its approved HEPLISAV-B. However, it faces challenges in matching the marketing reach and R&D budgets of its larger rivals. Strategic partnerships are key to expanding its footprint.
Growth Trajectory and Initiatives
Historical Growth: Historical growth for Dynavax would be characterized by its transition from an early-stage R&D company to a commercial entity with the launch of HEPLISAV-B. Revenue growth would likely have accelerated post-commercialization.
Future Projections: Future projections would depend on analyst expectations for HEPLISAV-B market penetration, success of new vaccine candidates, and growth from potential partnerships and licensing deals. Expansion into new geographic markets or indications would also be factored in.
Recent Initiatives: Recent initiatives likely include expanding the commercial reach of HEPLISAV-B, advancing clinical trials for other vaccine candidates, and potentially seeking new partnerships for its adjuvant technology.
Summary
Dynavax Technologies Corporation is a growing vaccine company with a strong proprietary adjuvant technology and a commercially successful product, HEPLISAV-B. Its CpG 1018 platform offers significant potential for enhancing vaccine efficacy. The company's success hinges on expanding HEPLISAV-B's market penetration and successfully developing new vaccine candidates through internal R&D and strategic partnerships. Key challenges include intense competition and the need for continued capital investment.
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Sources and Disclaimers
Data Sources:
- Company financial reports (e.g., 10-K, 10-Q filings)
- Industry research reports
- Financial news and data providers
- Company investor relations materials
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute investment advice. Market share data and financial projections are estimates and subject to change. Investors should conduct their own due diligence.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Dynavax Technologies Corporation
Exchange NASDAQ | Headquaters EmeryVille, CA, United States | ||
IPO Launch date 2004-02-19 | CEO & Director Mr. Ryan Spencer | ||
Sector Healthcare | Industry Drug Manufacturers - Specialty & Generic | Full time employees 405 | Website https://www.dynavax.com |
Full time employees 405 | Website https://www.dynavax.com | ||
Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States and internationally. The company offers HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in adults aged 18 years and older; and CpG 1018, the adjuvant used in HEPLISAV-B. It also develops rF1V, a plague vaccine candidate in Phase 2 clinical trial; and Z-1018, an investigational vaccine candidate in Phase 1/2 clinical trial for the prevention of shingles in adults aged 50 years and older, as well as HEPLISAV-B for adults on hemodialysis. The company sells its products to hospitals and clinics, integrated delivery networks, public health clinics and prisons, the Department of Defense, the Department of Veterans Affairs, and retail pharmacies through wholesalers and specialty distributors. It has a collaboration agreement with the U.S. Department of Defense; Coalition for Epidemic Preparedness Innovations; Zhejiang Clover Biopharmaceuticals, Inc.; Clover Biopharmaceuticals (Hong Kong) Co., Limited; and Biological E. Limited. 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.

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