What happened
Shares of Dynavax Technologies (DVAX +0.00%) couldn't escape the claws of the bear on Tuesday. The biotech stock closed 0.4% lower on the day, despite encouraging quarterly results published this morning.
So what
For its fourth quarter of 2021, Dynavax took in total revenue of just over $195 million, nearly 10 times the $19.6 million in the same quarter the previous year. GAAP net income came in just under $100 million, or $0.80 a share, representing a dramatic change from the $15.5 million loss of the year-ago quarter.
Image source: Getty Images.
While those numbers are impressive at first glance, they actually represent a mixed quarter for the biotech as far as analyst estimates are concerned. On one hand, professionals following the stock were anticipating nearly $209 million on the top line, but their collective estimate for per-share net profit was merely $0.69.
Dynavax's notable growth was due almost entirely to revenue from CpG 1018, its adjuvant that's used in vaccines. An adjuvant is effectively a booster substance that helps stimulate an immune response against a targeted antigen. CpG 1018 is used in coronavirus vaccines approved in various jurisdictions around the world.
NASDAQ: DVAX
Key Data Points
Now what
For the entirety of 2022, Dynavax is guiding for CpG 1018 net product revenue of $550 million at the minimum, which would be well above the $375 million the product earned last year.
Selling, general, and administrative expenses should cost the company $120 million to $140 million, and research and development spending is anticipated to be $55 million to $70 million. Those figures for 2021 were just over $100 million and $32 million, respectively.
The company did not proffer any profitability estimates.
