Dynavax Announces Third Quarter 2007 Financial Results and Updates 2007 Financi... (of $0.7 million and $1.7 million for the...)

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Dynavax Announces Third Quarter 2007 Financial Results and Updates 2007 Financial Outlook

Date:11/1/2007

of $0.7 million and $1.7 million for the three

and nine months ended September 30, 2007, respectively. General and

administrative expenses included non-cash stock-based compensation

charges of $0.7 million and $1.6 million for the three and nine

months ended September 30, 2006, respectively.

DYNAVAX TECHNOLOGIES CORPORATION

RECONCILIATION OF GAAP REVENUES TO PRO FORMA REVENUES

(In thousands)

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

GAAP revenues $1,014 $1,592 $4,798 $2,409

ADD:

Collaboration funding incurred under

SDI programs 1,855 3,290 8,487 5,288

Pro forma revenues (1) $2,869 $4,882 $13,285 $7,697

(1) These pro forma amounts are intended to illustrate the Company's

revenues to be inclusive of collaboration funding provided for the

SDI programs. The collaboration funding is reflected in the amount

attributed to the noncontrolling interest in SDI in the Company's

consolidated statement of operations, but would have been reported as

revenue if SDI's results of operations were not consolidated with

those of the company. Management of the company believes the pro

forma results are a more useful measure of the Company's revenues

because it provides investors the ability to evaluate the Company's

operations in the manner that management uses to assess the continued

progress of programs funded under the SDI arrangement. These pro

forma results are not in accordance wit
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SOURCE Dynavax Technologies Corporation
Copyright©2007 PR Newswire.
All rights reserved

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