- Dynavax Technologies ( NASDAQ: DVAX ) is up 8% in after-hours trading after upping its 2022 guidance for revenue of its key product, the vaccine adjuvant CpG 1018.
- The company now expects 2022 sales of CpG 1018 of $550M-$600M. In May, it was projected at $550M.
- CpG 1018 brought in $222.6M in Q2, a massive increase from the $39M in Q2 2021.
- Total revenue of $256.5M was a 386% year-over-year increase.
- GAAP net income was $32.9 million, 0.26 per share (basic) and 0.22 per share (diluted) in the quarter, compared to GAAP net income of $0.9 million, or $0.01 per share (basic and diluted) the prior-year period.
- Dynavax ( DVAX ) beat on the top and bottom lines in the quarter.
- The company ended Q2 with $518.2M in cash and cash equivalents, compared to ~$546M at Dec. 31, 2021.
- Seeking Alpha's Quant Rating views Dynavax ( DVAX ) as a strong buy with high marks for profitability and momentum .
For further details see:
Dynavax up 8% after raising full-year guidance for key adjuvant product, Q2 beats