<SEC-DOCUMENT>0001181431-12-056329.txt : 20121102
<SEC-HEADER>0001181431-12-056329.hdr.sgml : 20121102
<ACCEPTANCE-DATETIME>20121102160147
ACCESSION NUMBER:		0001181431-12-056329
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20121101
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121102
DATE AS OF CHANGE:		20121102

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:		121176802

	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>rrd359153.htm
<DESCRIPTION>DYNAVAX REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS
<TEXT>

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			Prepared By R.R. Donnelley Financial -- Form 8-K
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				<b>UNITED STATES </b>
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				<b>SECURITIES AND EXCHANGE COMMISSION</b>
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				<b>Washington, D.C. 20549</b>
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				<b>Form 8-K </b>
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				<b>CURRENT REPORT</b>
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				<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
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				<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;11/01/2012 </b>
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				<b>Dynavax Technologies Corporation</b>
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				<b>(Exact name of registrant as specified in its charter)</b>
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				<b>Commission File Number:&nbsp;&nbsp;001-34207</b>
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								<b>Delaware</b>
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								<b>33-0728374</b>
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								<b>(State or other jurisdiction of</b>
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								<b>(IRS Employer</b>
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								<b>incorporation)</b>
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								<b>Identification No.)</b>
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				<b>2929 Seventh Street, Suite 100</div><div Align="center">Berkeley, CA 94710-2753</b>
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				<b>(Address of principal executive offices, including zip code)</b>
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				<b>(510) 848-5100</b>
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				<b>(Registrant&#146;s telephone number, including area code)</b>
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				<b>(Former name or former address, if changed since last report)</b>
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			<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>
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			<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))
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				<b>Item 2.02.&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition</b>
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				On November 1, 2012, Dynavax Technologies Corporation ("Dynavax") issued a press release announcing its financial results for the third quarter ended September 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 "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.
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				<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b>
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				(d) Exhibits. The following exhibit is furnished herewith:<p>99.1  Press Release, dated November 1, 2012 titled "Dynavax Reports Third Quarter 2012 Financial Results."
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			<b>SIGNATURES</b>
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			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.
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							Dynavax Technologies Corporation
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					&nbsp;
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							Date: November 02, 2012
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							By:
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						/s/&nbsp;&nbsp;&nbsp;&nbsp;Christine R. Larson</font>
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						Christine R. Larson</font>
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						Vice President and Chief Financial Officer
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			<b>EXHIBIT INDEX</b>
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								<b>Exhibit&nbsp;No.</b>
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								<b>Description</b></font>
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								EX-99.1
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								DYNAVAX REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS</font>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>rrd359153_38669.htm
<DESCRIPTION>DYNAVAX REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS
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<B><FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P><A NAME="OLE_LINK9">Contacts:</B></FONT></FONT></TD>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Cris Larson</FONT></FONT></TD>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Michael Ostrach</FONT></FONT></TD>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Chief Financial Officer</FONT></FONT></TD>
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<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>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>510-665-7222</FONT></FONT></TD>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>510-665-7257</FONT></FONT></TD>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>clarson@dynavax.com</FONT></FONT></TD>
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<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>mostrach@dynavax.com</FONT></FONT></TD>
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<B><FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">DYNAVAX REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS</P>
<P ALIGN="CENTER"></P>
</B><P></A>BERKELEY, CA - November 1, 2012 - Dynavax Technologies Corporation (NASDAQ: DVAX) today reported financial results for the third quarter ended September 30, 2012. The Company had $148.3 million in cash, cash equivalents and marketable securities as of September 30, 2012. </P>
<P>Total revenues for the quarter ended September 30, 2012 were $2.9 million compared to $1.2 million for the quarter ended September 30, 2011, due primarily to higher collaboration and grant revenue recognized as a result of research and development reimbursable under Dynavax's partnerships with AstraZeneca and the National Institute of Allergy and Infectious Diseases. </P>
<P>Research and development expenses for the quarter ended September 30, 2012 were $12.9 million compared to $11.8 million for the quarter ended September 30, 2011. Increased research and development expenses in the third quarter of 2012 were primarily attributed to manufacturing and regulatory activities for HEPLISAV<SUP>TM</SUP>.</P>
<P>General and administrative expenses for the quarter ended September 30, 2012 were $7.1 million compared to $4.2 million for the quarter ended September 30, 2011. General and administrative expenses increased primarily due to growth in the organization and activities to prepare for and support the commercial launch of HEPLISAV in the United States.</P>
<B><P>Recent Developments</P>
</B>
<P>Dynavax reported the following recent developments:</P>
<P>&nbsp;</P>
<UL>
<LI>In June 2012, we reported that the FDA has established February&nbsp;24, 2013, as the Prescription Drug User Fee Act (PDUFA) action date for our HEPLISAV Biologics License Application, pursuing an indication for immunization against infection caused by all known subtypes of hepatitis B virus in adults 18 through 70 years of age. In August 2012, the FDA informed the Company that its Vaccines and Related Biological Advisory Committee is scheduled to discuss HEPLISAV at its meeting on November 15, 2012. <BR>
</LI>
<LI>In July 2012, the American Medical Association Current Procedural Terminology (CPT) Panel established a CPT code for an adult two dose hepatitis B vaccination schedule. CPT codes are designed to communicate uniform information about medical services and procedures among physicians and payers for administrative and financial purposes. If approved, HEPLISAV will be reported using the new two dose code, differentiating it from a three dose hepatitis B vaccine schedule.<BR>
</LI>
<LI>In July 2012, we filed a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) for HEPLISAV for use in adults 18 through 70 years of age and in patients with chronic kidney disease. The Company was subsequently notified in August 2012 by the EMA that its MAA was accepted for review. The EMA is a European Union agency responsible for the evaluation of medicinal products that allows companies to submit a single application for marketing authorization in all European Union and European Economic Area European Free Trade Association states.</LI>
<LI>In October 2012, we and AstraZeneca agreed to advance AZD1419, a proprietary second generation TLR-9 agonist for asthma, towards a Phase 1 clinical trial, which entitles us to a development milestone payment of $6 million.</LI></UL>
<B><P>About HEPLISAV</P>
</B>
<P>HEPLISAV is an investigational adult hepatitis B vaccine for which U.S. and European licensure applications have been accepted for review by the FDA and EMA. 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 higher and earlier protection with fewer doses than currently licensed vaccines. For more information visit www.dynavax.com.</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=734 DIR="LTR">
<TR><TD WIDTH="52%" VALIGN="TOP" COLSPAN=2 HEIGHT=13><P></P></TD>
<TD WIDTH="26%" VALIGN="TOP" COLSPAN=3 HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Three Months Ended</P>
<U><P ALIGN="CENTER">September 30,</B></U></FONT></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" COLSPAN=2 HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Nine Months Ended</P>
<U><P ALIGN="CENTER">September 30,</B></U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP" HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P> </B></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 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="14%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 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="12%" 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>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Revenues:</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 HEIGHT=16><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 HEIGHT=16><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;       1,050</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>$&#9;          369</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      3,602</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      7,098</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;     1,219</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;          658</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;       3,188</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT"> 2,437</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>          605</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>            147</U></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>          1,118</U></FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>          652</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total revenues&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;2,874</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;1,174</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;7,908</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;10,187</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Operating expenses:</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;12,850</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;11,777</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;36,631</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;39,706</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;7,121</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;4,217</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;18,871</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;13,025</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 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="14%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 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="12%" 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>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total operating expenses&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;19,971</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;15,994</U></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;55,502</U></FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;53,030</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Loss from operations&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;(17,097)</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;(14,820)</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(47,594)</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(42,843)</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Interest income&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;91</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;18</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;208</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;74</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Interest expense&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;(589)</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;&#9;(485)</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(1,765)</FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(1,462)</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Other income (expense)&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;(196)</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>&#9;58</U></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(255)</U></FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(99)</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Net loss&#9;</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$&#9;(17,791)</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$&#9;(15,229)</U></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(49,406)</U></FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(44,330)</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$     (0.10)</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;<U>$    (0.12)</U></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      (0.30)</U></FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      (0.37)</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="51%" 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="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       177,870</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>      124,069</U></FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       167,039</U></FONT></FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       119,244</U></FONT></FONT></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=739 DIR="LTR">
<TR><TD WIDTH="72%" VALIGN="TOP" HEIGHT=22><P></P></TD>
<TD WIDTH="15%" VALIGN="BOTTOM" HEIGHT=22>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">September 30,</B></FONT></FONT></TD>
<TD WIDTH="14%" 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="72%" VALIGN="TOP" HEIGHT=1>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P> </B></FONT></FONT></TD>
<TD WIDTH="15%" 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="14%" 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="72%" VALIGN="BOTTOM">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Assets</B></FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="72%" 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="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;148,279</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;113,961</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" 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="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;6,948</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;6,163</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Goodwill&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;2,408</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;2,312</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Other assets&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;7,187</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;11,666</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total assets&#9;</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;164,822</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;134,102</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="72%" 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="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>&#9;</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Deferred revenues&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;8,947</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;10,596</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Short-term note payable &#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">14,452</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">12,810</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Other liabilities&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;11,365</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;10,816</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total liabilities&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">34,764</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">34,222</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Stockholders' equity&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;130,058</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;99,880</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="72%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total liabilities and stockholders' equity&#9;</FONT></FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;164,822</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;134,102</U></FONT></FONT></TD>
</TR>
</TABLE>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER"></P>
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