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Dynavax Announces Third Quarter 2007 Financial Results and Updates 2007 Financial Outlook
Date:11/1/2007

sults may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including achievement of collaboration milestones and regulatory approvals under our third party funding arrangements, difficulties or delays in research and development, initiation and completion of clinical trials, the results of clinical trials and the impact of those results on the initiation and completion of subsequent trials and issues arising in the regulatory process; the scope and validity of patent protection and the possibility of claims against us based on the patent rights of others; our ability to obtain additional financing to support our operations; and other risks detailed in the "Risk Factors" section of our Quarterly Report on Form 10-Q. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.

DYNAVAX TECHNOLOGIES CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

Revenues:

Collaboration revenue $719 $166 $2,218 $166

Service and license revenue 162 692 732 916

Grant revenue 133 734 1,848 1,327

Total revenues 1,014 1,592 4,798 2,409

Operating expenses:

Research and development (2) 14,909 12,781 47,705 30,135

General and administrative (3) 5,029 4,656 13,414 10,639

Acquired in-process research

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SOURCE Dynavax Technologies Corporation
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