Dynavax Issues Update On CpG 1018 Purchase Orders From Valneva SE - Quick Facts

(RTTNews) - Dynavax Technologies Corp. (DVAX) said Valneva SE has received a termination notice from the United Kingdom Government in relation to Valneva's supply agreement for its COVID-19 vaccine candidate, VLA2001. Valneva is one of a number of companies developing COVID vaccines using CpG 1018 as an adjuvant. Under Dynavax's supply agreement for CpG 1018, purchase orders submitted by Valneva are cancellable if the UK Government reduces or terminates its order for VLA2001.

Dynavax said if Valneva's existing purchase orders are cancelled, the company will work to reallocate CpG 1018 inventory to its other COVID-19 collaborators.

Dynavax reiterated its belief that CpG 1018 supply contracts continue to represent an approximately $300 million - $400 million aggregate revenue opportunity in 2021.