Third quarter 2020 HEPLISAV-B® net product revenue highest since launch at $11.6 million, despite impact of COVID-19
Initial CpG 1018 revenue and deferred revenue totaling $23.4 million in third quarter, with potential 2021 revenue between approximately $130 to $230 million
#DVAX reported financial results for the third quarter of 2020. HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted]
Net product revenue for HEPLISAV-B during the third quarter 2020 was $11.6 million, up from $10.2 million for the third quarter of 2019, despite the ongoing reduction in vaccine utilization due to COVID-19.
Market share in accounts targeted by the field sales team increased to approximately 23%, up from approximately 21% in the previous quarter.
Successful conversion of a top 5 national retail chain to HEPLISAV-B, resulting in stocking over 2,000 store locations in the third quarter.
CpG 1018 (PROPRIETARY TOLL-LIKE RECEPTOR 9 (TLR9) AGONIST ADJUVANT)
In September 2020, Dynavax and Valneva SE entered into a commercial supply agreement to provide Valneva with CpG 1018 to produce 60 to 100 million doses of vaccine in 2021. Valneva has the option to purchase CpG 1018 to produce up to an additional 90 million doses through 2024. Under our commercial supply agreement with Valneva, Dynavax has the potential for 2021 CpG 1018 revenue between approximately $130 and $230 million, with a total revenue potential over $400 million through 2024, contingent on the continued success of the program.
Phase 1 data from Medicago and Clover Biopharmaceuticals are expected to be released by mid-November and year-end 2020, respectively.
Based on the positive Phase 1 data to date, Clover Biopharmaceuticals intends to develop two adjuvanted COVID-19 vaccine programs to fully utilize their available antigen production capacity and anticipates initiating a pivotal clinical trial with CpG 1018 to address global demand.
Multiple ongoing global, collaborations are advancing the development of adjuvanted vaccine candidates using Dynavax's CpG 1018. Dynavax expects to continue to broaden its portfolio of vaccine product opportunities through additional business arrangements. A summary of current CpG 1018 collaborations is provided below.
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