<SEC-DOCUMENT>0001181431-12-042979.txt : 20120801
<SEC-HEADER>0001181431-12-042979.hdr.sgml : 20120801
<ACCEPTANCE-DATETIME>20120801160127
ACCESSION NUMBER:		0001181431-12-042979
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120801
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120801
DATE AS OF CHANGE:		20120801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNAVAX TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0001029142
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				330728374
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34207
		FILM NUMBER:		121000108

	BUSINESS ADDRESS:	
		STREET 1:		2929 SEVENTH STREET
		STREET 2:		SUITE 100
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
		BUSINESS PHONE:		5108485100

	MAIL ADDRESS:	
		STREET 1:		2929 SEVENTH STREET
		STREET 2:		SUITE 100
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd352096.htm
<DESCRIPTION>DYNAVAX REPORTS SECOND QUARTER 2012 FINANCIAL RESULTS
<TEXT>

<html>
	<head>
		<meta content="text/html; charset=iso-8859-1">
		<title>
			Prepared By R.R. Donnelley Financial -- Form 8-K
		</title>
	</head>
	<body Bgcolor="white">
		<hr Size="4" Noshade Color="#000000" Align="left">
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="4" Color="#000000">
				<b>UNITED STATES </b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="4" Color="#000000">
				<b>SECURITIES AND EXCHANGE COMMISSION</b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>Washington, D.C. 20549</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="5" Color="#000000">
				<b>Form 8-K </b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="4" Color="#000000">
				<b>CURRENT REPORT</b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="4" Color="#000000">
				<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="3" Color="#000000">
				<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;08/01/2012 </b>
			</font>
		</div>


		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="5" Color="#000000">
				<b>Dynavax Technologies Corporation</b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Exact name of registrant as specified in its charter)</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="3" Color="#000000">
				<b>Commission File Number:&nbsp;&nbsp;001-34207</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<table Cellspacing="0" Cellpadding="0" Width="100%" Border="0">
				<tr>
					<td Valign="bottom" Width="59%" Align="center">
						<div Align="center">
							<font Face="times New Roman" Size="3" Color="#000000">
								<b>Delaware</b>
							</font>
						</div>
					</td>
					<td Valign="bottom" Width="3%">
						<font Face="times New Roman" Size="1">
							&nbsp;&nbsp;
						</font>
					</td>
					<td Valign="bottom" Width="59%" Align="center">
						<div Align="center">
							<font Face="times New Roman" Size="3" Color="#000000">
								<b>33-0728374</b>
							</font>
						</div>
					</td>
				</tr>
				<tr>
					<td Valign="top" Align="center" Width="59%">
						<div Style="margin-left:2%; Text-indent:-2%" Align="center">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>(State or other jurisdiction of</b>
							</font>
						</div>
					</td>
					<td Valign="bottom" Width="3%">
						<font Face="times New Roman" Size="1">
							&nbsp;&nbsp;
						</font>
					</td>
					<td Valign="bottom" Align="center" Width="59%">
						<div Align="center">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>(IRS Employer</b>
							</font>
						</div>
					</td>
				</tr>
				<tr>
					<td Valign="top" Align="center" Width="59%">
						<div Style="margin-left:2%; Text-indent:-2%" Align="center">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>incorporation)</b>
							</font>
						</div>
					</td>
					<td Valign="bottom" Width="3%">
						<font Face="times New Roman" Size="1">
							&nbsp;&nbsp;
						</font>
					</td>
					<td Valign="bottom" Align="center" Width="59%">
						<div Align="center">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>Identification No.)</b>
							</font>
						</div>
					</td>
				</tr>
			</table>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="3" Color="#000000">
				<b>2929 Seventh Street, Suite 100</div><div Align="center">Berkeley, CA 94710-2753</b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Address of principal executive offices, including zip code)</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="3" Color="#000000">
				<b>(510) 848-5100</b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Registrant&#146;s telephone number, including area code)</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="3" Color="#000000">
				<b> </b>
			</font>
		</div>
		<div Align="center">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>(Former name or former address, if changed since last report)</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>


	<div Align="left">
		<font Face="times New Roman" Size="2" Color="#000000">
			<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR></b>
		</font>
	</div>


	<div Align="left">
		<font Face="times New Roman" Size="2" Color="#000000">
			<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
			</b>
		</font>
	</div>


	<div>
		<font Size="1">&nbsp;</font>
	</div>
	<hr Size="4" Noshade Color="#000000" Align="left">
	<p Style='page-break-before:always'>
	<p Align="center">


		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div align="left">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>Item 2.02.&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div  align="left" Style="text-indent:4%">
			<font Face="times New Roman" Size="2" Color="#000000">
				On August 1, 2012, Dynavax Technologies Corporation ("Dynavax") issued a press release announcing its financial results for the second quarter ended June 30, 2012. A copy of the press release is attached as Exhibit 99.1 to this current report and is incorporated herein by reference.<p>The information with respect to Item 2.02 in this current report and its accompanying exhibit shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this current report and in the accompanying exhibit shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Dynavax, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>


		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div align="left">
			<font Face="times New Roman" Size="2" Color="#000000">
				<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b>
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>
		<div  align="left" Style="text-indent:4%">
			<font Face="times New Roman" Size="2" Color="#000000">
				(d) Exhibit<p>Exhibit No.&nbsp;&nbsp;&nbsp;  Description</div><div align="left" style="text-indent:4%">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release, dated August 1, 2012 titled "Dynavax Reports Second Quarter 2012 Financial Results."
			</font>
		</div>
		<div>
			<font Size="1">&nbsp;</font>
		</div>


	<hr  Size="3" Color="#cceeff" Width="100%" Align="center">
	<p Align="center"><font Size="2">&nbsp;</font>
	<div Align="center">
		<font Face="times New Roman" Size="2" Color="#000000">
			<b>SIGNATURES</b>
		</font>
	</div>
	<div>
		<font Size="1">&nbsp;</font>
	</div>
	<div align="left" Style="text-indent:4%">
		<font Face="times New Roman" Size="2" Color="#000000">
			Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
			duly authorized.
		</font>
	</div>
	<div>
		<font Size="1">&nbsp;</font>
	</div>
	<div>
		<table Cellspacing="0" Cellpadding="0" Width="100%" Border="0">


			<tr>
				<td Valign="top" Colspan="3" Width="53%">
					&nbsp;
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
				<td>
					&nbsp;
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
				<td Valign="top" Align="center" Width="3%">
					&nbsp;
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
				<td Valign="top" Width="53%">
					<div Style="margin-left:2%; Text-indent:-2%">
						<font Face="times New Roman" Size="2" Color="#000000">
							Dynavax Technologies Corporation
						</font>
					</div>
				</td>
			</tr>
			<tr>
				<td>
					&nbsp;
				</td>
			</tr>
			<tr>
				<td>
					&nbsp;
				</td>
			</tr>
			<tr>
				<td Valign="top" Colspan="3" Width="53%">
					<div Style="margin-left:2%; Text-indent:-2%">
						<font Face="times New Roman" Size="2" Color="#000000">
							Date: August 01, 2012
						</font>
					</div>
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
				<td>
					&nbsp;
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
				<td Valign="top" Align="center" Width="3%">
					<div Align="center">
						<font Face="times New Roman" Size="2" Color="#000000">
							By:
						</font>
					</div>
				</td>
				<td Valign="bottom" Width="3%">
					&nbsp;
				</td>
			<td Valign="top" Width="53%">
				<div Style="margin-left:2%; Text-indent:-2%">
					<font Face="times New Roman" Size="2" Color="#000000">
						/s/&nbsp;&nbsp;&nbsp;&nbsp;Jennifer Lew</font>
				</div>
				<hr Noshade Align="left" Color="#000000">
			</td>
		</tr>
		<tr>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td Valign="bottom" Width="53%">
				<div Style="margin-left:2%; Text-indent:-2%">
					<font Face="times New Roman" Size="2" Color="#000000">
						Jennifer Lew</font>
				</div>
			</td>
		</tr>
		<tr>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td>
				&nbsp;
			</td>
			<td Valign="bottom" Width="3%">
				&nbsp;
			</td>
			<td Valign="bottom" Width="53%">
				<div>
					<font Face="times New Roman" Size="2" Color="#000000">
						Vice President, Finance
					</font>
				</div>
			</td>
		</tr>
		<tr>
			<td>
				&nbsp;
			</td>
		</tr>
		<tr>
			<td>
				&nbsp;
			</td>
		</tr>


	</table>
</div>


		<p Style='page-break-before:always'>
		<hr  Size="3" Color="#cceeff" Width="100%" Align="center">
		<p Align="center"><font Size="2">&nbsp;</font>
		<div Align="center">
			<font Face="times New Roman" Size="2" Color="#000000">
			<b>EXHIBIT INDEX</b>
		</font>
		</div>
		<div>
			&nbsp;
		</div>
		<div Align="center">
			<table Cellspacing="0" Cellpadding="0" Width="100%" Border="0">
				<tr>
					<td Valign="top" Align="left">
						<div Align="left">
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>Exhibit&nbsp;No.</b>
							</font>
						</div>
						<hr Size="2" Noshade Width="48" Color="#000000">
					</td>
					<td Valign="top" Width="3%" Align="left">
						<font Face="times New Roman" Size="2">&nbsp;&nbsp;</font>
					</td>
					<td Valign="top" Width="100%" Align="left">
						<div>
							<font Face="times New Roman" Size="2" Color="#000000">
								<b>Description</b></font>
						</div>
						<hr Size="2" Noshade Width="73" Align="left" Color="#000000">
					</td>
				</tr>


				<tr>
					<td Valign="top" Align="left">
						<div Align="top">
							<font Face="times New Roman" Size="1" Color="#000000">
								EX-99.1
							</font>
						</div>
					</td>
					<td Valign="top" Width="3%" Align="left">
						<font Face="times New Roman" Size="2">&nbsp;&nbsp;</font>
					</td>
					<td Valign="top" Width="100%" Align="left">
						<div>
							<font Face="times New Roman" Size="2" Color="#000000">
								Press Release, dated August 1, 2012, "Dynavax Reports Second Quarter 2012 Financial Results."</font>
						</div>
					</td>
				</tr>


		</table>
			</div>


	</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>rrd352096_38214.htm
<DESCRIPTION>PRESS RELEASE, DATED AUGUST 1, 2012, "DYNAVAX REPORTS SECOND QUARTER 2012 FINANCIAL RESULTS."
<TEXT>
<HTML>
<HEAD>
<TITLE> </TITLE>
</HEAD>
<BODY LINK="#0000ff">
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<B><FONT FACE="Arial"><P>    Dynavax Technologies</P>
</FONT><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>    </B>2929 Seventh Street, Suite 100   </P>
<P>             Berkeley, CA 94710</P>
</FONT></FONT><B><FONT FACE="Arial" COLOR="#ff0000"><FONT FACE="Arial" COLOR="#ff0000"></DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</B></FONT></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=570 DIR="LTR">
<TR><TD WIDTH="42%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Contacts:</B></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="48%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Jennifer Lew</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="48%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Michael Ostrach</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Vice President, Finance</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=9><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Vice President and Chief Business Officer </FONT></FONT></TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>510-665-7217</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=9><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>510-665-7257</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>jlew@dynavax.com</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=9><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>mostrach@dynavax.com</FONT></FONT></TD>
</TR>
</TABLE>
</CENTER></P>
<B><FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P ALIGN="CENTER"></P>
<P ALIGN="CENTER"><A NAME="OLE_LINK9"></P>
<P ALIGN="CENTER">DYNAVAX REPORTS SECOND QUARTER 2012 FINANCIAL RESULTS</P>
<P ALIGN="CENTER"></P>
</B><P>BERKELEY, CA - August 1, 2012 - Dynavax Technologies Corporation (NASDAQ: DVAX) today reported financial results for the second quarter ended June 30, 2012. The Company had $160.2 million in cash, cash equivalents and marketable securities as of June 30, 2012 as compared to $114.0 million at December 31, 2011. Total cash for the second quarter of 2012 included $69.6 million in net proceeds from the sale of 17,500,000 shares of common stock.</P>
<P>Total revenues were $2.7 million and $5.0 million for the three and six months ended June 30, 2012, respectively, compared to $7.3 million and $9.0 million, respectively, reported for the same periods of 2011. Revenues for the second quarter and first half of 2011 included a $6 million milestone earned under the Company's collaboration with GlaxoSmithKline.</P>
<P>Research and development expenses were $11.4 million and $23.8 million for the three and six months ended June 30, 2012, respectively. This compared to $13.3 million and $27.9 million, respectively, reported for the same periods of 2011. Research and development expenses decreased primarily due to the significant decline in clinical activities for HEPLISAV<SUP>TM</SUP>.</P>
<P>General and administrative expenses were $6.0 million and $11.8 million for the second quarter and first half of 2012, respectively, compared to $4.1 million and $8.8 million, respectively, in the same periods of the prior year. General and administrative expenses increased primarily due to growth in commercial development expenses.</P>
<B><P>About HEPLISAV</P>
</B>
<P>HEPLISAV is an investigational adult hepatitis B vaccine for which a U.S. BLA has been accepted for review by the FDA and a Marketing Authorization Application (MAA) has been submitted. In Phase 3 trials, HEPLISAV demonstrated higher and earlier protection with fewer doses than currently licensed vaccines. Dynavax has worldwide commercial rights to HEPLISAV. HEPLISAV combines hepatitis B surface antigen with a proprietary Toll-like Receptor 9 agonist known to enhance the immune response.</P>
<B><P>About Dynavax</P>
</B><P>Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious and inflammatory diseases. The Company's lead product candidate is HEPLISAV, a Phase 3 investigational adult hepatitis B vaccine designed to provide rapid and earlier protection with fewer doses than currently licensed vaccines. For more information visit www.dynavax.com.</A></P>
<P ALIGN="CENTER">- tables to follow -</P>
</FONT></FONT><B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">DYNAVAX TECHNOLOGIES CORPORATION</P>
<P ALIGN="CENTER">CONSOLIDATED STATEMENTS OF OPERATIONS</P>
<P ALIGN="CENTER">(In thousands, except per share amounts)</P>
<P ALIGN="CENTER">(Unaudited)</P>
<P ALIGN="CENTER"></P></B></FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=761 DIR="LTR">
<TR><TD WIDTH="48%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=2 HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Three Months Ended</P>
<U><P ALIGN="CENTER">June 30,</B></U></FONT></FONT></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=2 HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Six Months Ended</P>
<U><P ALIGN="CENTER">June 30,</B></U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=13><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP" HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P> </B></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=13>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2012</B></U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=13>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2011</B></U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=13>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2012</B></U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=13>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2011</B></U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=13><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Revenues:</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Collaboration revenue&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;       1,623</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;       6,363</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      2,552</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      6,729</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Grant revenue&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;     882</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;          890</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;       1,969</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT"> 1,779</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Service and license revenue&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>          179</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>            16</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>          513</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>          505</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total revenues&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;2,684</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;7,269</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;5,034</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;9,013</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Operating expenses:</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Research and development&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;11,376</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;13,257</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;23,781</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;27,929</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>General and administrative&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;5,957</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;4,054</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;11,750</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;8,808</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Amortization of intangible assets&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;</FONT></FONT><FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3>-</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;54</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;</FONT></FONT><FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3>-</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;299</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total operating expenses&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;17,333</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;17,365</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;35,531</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;37,036</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Loss from operations&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;(14,649)</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;(10,096)</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(30,497)</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(28,023)</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Interest income&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;65</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;23</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;117</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;56</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Interest expense&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;(589)</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;(487)</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(1,176)</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(977)</FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Other income (expense)&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;63</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;(75)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(59)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(157)</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=17><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Net loss&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$&#9;(15,110)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$&#9;(10,635)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(31,615)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(29,101)</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Basic and diluted net loss per share&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$     (0.09)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$     (0.09)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      (0.20)</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      (0.25)</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Shares used to compute basic and diluted net loss per share&#9;</FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       167,697</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       117,864</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       161,564</U></FONT></FONT></TD>
<TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       116,801</U></FONT></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
</TABLE>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">DYNAVAX TECHNOLOGIES CORPORATION</P>
<P ALIGN="CENTER">SELECTED BALANCE SHEET DATA</P>
<P ALIGN="CENTER">(In thousands)</P>
<P ALIGN="CENTER">(Unaudited)</P>
<P ALIGN="CENTER"></P></B></FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=619 DIR="LTR">
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=22><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=22>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">June 30,</B></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=22>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">December 31,</B></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=1>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P> </B></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=1>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2012</B></U></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=1>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2011</B></U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Assets</B></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Cash and cash equivalents and marketable securities&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;160,199</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;113,961</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Property and equipment, net&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;6,833</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;6,163</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Goodwill&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;2,356</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;2,312</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Other assets&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;6,507</U></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;11,666</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total assets&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;175,895</U></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;134,102</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Liabilities and stockholders'</B> <B>equity</B></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Accounts payable&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;1,155</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;2,040</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Accrued liabilities &#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">       7,956</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">        8,776</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Current portion of deferred revenue&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">       2,859</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">        4,210</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Non-current portion of deferred revenue&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;5,312</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;6,386</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Short-term note payable to Holdings&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>           13,905</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>           12,810</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Stockholders' equity&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;144,708</U></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;99,880</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total liabilities and stockholders' equity&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;175,895</U></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;134,102</U></FONT></FONT></TD>
</TR>
</TABLE>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER"></P>
<P ALIGN="CENTER"># # #</P></FONT></FONT></BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
