<SEC-DOCUMENT>0001181431-13-057675.txt : 20131107
<SEC-HEADER>0001181431-13-057675.hdr.sgml : 20131107
<ACCEPTANCE-DATETIME>20131107171739
ACCESSION NUMBER:		0001181431-13-057675
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131107
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131107
DATE AS OF CHANGE:		20131107

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:		131201735

	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>rrd394791.htm
<DESCRIPTION>8-K
<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;11/07/2013 </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 November 7, 2013, Dynavax Technologies Corporation ("Dynavax") issued a press release announcing its financial results for the third quarter ended September 30, 2013. 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 "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) Exhibits. The following exhibit is furnished herewith:<p>99.1 Press Release, dated November 7, 2013 titled "Dynavax Reports Third Quarter 2013 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: November 07, 2013
						</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;Michael S. Ostrach </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">
						Michael S. Ostrach </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
					</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">
								DYNAVAX REPORTS THIRD QUARTER 2013 FINANCIAL RESULTS</font>
						</div>
					</td>
				</tr>


		</table>
			</div>


	</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>rrd394791_40186.htm
<DESCRIPTION>DYNAVAX REPORTS THIRD QUARTER 2013 FINANCIAL RESULTS
<TEXT>
<HTML>
<HEAD>
<TITLE>Contacts:</TITLE>
</HEAD>
<BODY LINK="#0000ff">
<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><A NAME="OLE_LINK9">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>Michael Ostrach</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="48%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>Vice President and Chief Business Officer </FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=9><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=9><P></P></TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>510-665-7257</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=9><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=9><P></P></TD>
</TR>
<TR><TD WIDTH="42%" VALIGN="TOP" HEIGHT=9>
<FONT FACE="Arial" SIZE=3><FONT FACE="Arial" SIZE=3><P>mostrach@dynavax.com</FONT></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=9><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=9><P></P></TD>
</TR>
</TABLE>
</CENTER></P>
<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 2013 FINANCIAL RESULTS</P>
<P ALIGN="CENTER"></P>
</B><P></A>BERKELEY, CA - November 7, 2013 - Dynavax Technologies Corporation (NASDAQ: DVAX) today reported financial results for the third quarter ended September 30, 2013. The Company had $76.5 million in cash, cash equivalents and marketable securities as of September 30, 2013, compared to $125.1 million at December 31, 2012. </P>
<P ALIGN="CENTER"></P>
<P>For both quarters ended September 30, 2013 and 2012, Dynavax reported total revenues of $2.9 million. Total revenues for the nine months ended September 30, 2013 were $8.4 million compared to $7.9 million for the same period in 2012. </P>
<P>&#9;</P>
<P>General and administrative expenses for the quarter ended September 30, 2013 were $5.8 million compared to $7.1 million for the third quarter of 2012. For the nine months ended September 30, 2013, general and administrative expenses were $22.2 million compared to $18.9 million for the same period in 2012. This increase was due to one-time cash and non-cash stock-based severance costs of $2.0 million and $7.5 million, respectively, for the third quarter and nine month period of 2013. General and administrative expenses other than these organizational transition costs decreased by 49% during the third quarter and 24% for the nine month period of 2013.</P>
<P>Research and development expenses for the quarter ended September 30, 2013 were $11.8 million compared to $12.9 million for the third quarter of 2012. For the nine months ended September 30, 2013, research and development expenses were $38.7 million compared to $36.6 million for the same period in 2012. This increase was due primarily to manufacturing activities and expenses related to the supply of HEPLISAV<SUP>TM</SUP>.</P>
<P>On October 30, 2013, the Company sold 79,570,000 shares of our common stock at a price of $1.075 per share and 43,430 shares of the Company's Series B Convertible Preferred Stock (Series B) for a price of $1,075.00 per share, in separate, concurrent underwritten public offerings. The sale of the common stock and Series B resulted in aggregate net proceeds to us of approximately $125 million after deducting estimated commissions and offering expenses.</P>
<B><P>About Dynavax</P>
</B>
<P>Dynavax, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious and inflammatory diseases and cancer. The Company's lead product candidate is HEPLISAV, a Phase 3 investigational adult hepatitis B vaccine. For more information visit www.dynavax.com.</P>
<P>&nbsp;</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">CONDENSED 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="31%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="38%" 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="23%" 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>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=13><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=13>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P> </B></FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=13>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2013</B></U></FONT></FONT></TD>
<TD WIDTH="16%" 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="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=13>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">2013</B></U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="TOP" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Revenues:</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" COLSPAN=2 HEIGHT=16><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" COLSPAN=2 HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;          1,110</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;       1,050</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      3,349</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      3,602</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;1,700</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;     1,219</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;       3,855</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>          117</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>          605</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>       1,200</U></FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total revenues&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;2,927</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;2,874</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;8,404</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Operating expenses:</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
<TD WIDTH="17%" 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="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;11,770</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;12,850</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;38,739</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;5,807</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;7,121</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;22,243</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=16><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Unoccupied facility expense&#9;</DIR>
</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;918</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;--</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;918</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;--</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Total operating expenses&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;18,495</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;19,971</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;61,900</U></FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Loss from operations&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(15,568)</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(17,097)</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;(53,496)</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Interest income&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;37</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;91</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;163</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Interest expense&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(24)</FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(589)</FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;&#9;(83)</FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Other income (expense)&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(120)</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(196)</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=17>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>&#9;(248)</U></FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Net loss&#9;</FONT></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(15,675)</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(17,791)</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(53,664)</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$&#9;(49,406)</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$      (0.09)</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;<U>$     (0.10)</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$      (0.29)</U></FONT></FONT></TD>
<TD WIDTH="17%" 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>
</TR>
<TR><TD WIDTH="31%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=5><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" COLSPAN=2 HEIGHT=5><P></P></TD>
</TR>
<TR><TD WIDTH="31%" 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="18%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       183,022</U></FONT></FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       177,870</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">       182,960</U></FONT></FONT></TD>
<TD WIDTH="17%" VALIGN="TOP" COLSPAN=2 HEIGHT=16>
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">            167,039</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">&nbsp;</P>
<P ALIGN="CENTER">DYNAVAX TECHNOLOGIES CORPORATION</P>
<P ALIGN="CENTER">SELECTED CONSOLIDATED 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=703 DIR="LTR">
<TR><TD WIDTH="70%" VALIGN="TOP" HEIGHT=22><P></P></TD>
<TD WIDTH="15%" VALIGN="BOTTOM" HEIGHT=22>
<B><U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">September </U>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="70%" 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">2013</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">2012</B></U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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="70%" VALIGN="BOTTOM"><DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>Cash, 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">$&#9;76,474</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;125,130</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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;8,454</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;7,965</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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;2,532</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;2,475</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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;4,238</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;4,182</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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">$&#9;91,698</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;139,752</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="14%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="70%" 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="70%" 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">$&#9;8,877</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;12,068</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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;10,425</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;12,858</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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">19,302</FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">24,926</FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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;72,396</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">&#9;114,826</U></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="70%" 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">$&#9;91,698</U></FONT></FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM">
<U><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="RIGHT">$&#9;139,752</U></FONT></FONT></TD>
</TR>
</TABLE>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER"></P>
<P ALIGN="CENTER"># # #</P>
<B><P ALIGN="CENTER"></P></B></FONT></FONT></BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
