* Q2 loss/shr $0.34 vs EPS $0.10 yr-ago
* Q2 rev falls 86 pct
* Shares down 6 pct afterhours
July 30 Dynavax Technologies Corp (DVAX.O)
posted a quarterly loss, hurt partly by higher expenses as the
drugmaker restarted development of its experimental hepatitis B
The drug, which is now in late-stage development, was put
on clinical hold by the U.S. Food and Drug Administration in
March 2008. Later that year, Merck (MRK.N) ended a
collaboration agreement over the development and
commercialization of heplisav.
Net loss for the second quarter was $28.0 million, or 34
cents a share, compared with net income of $4.1 million, or 10
cents a share, in the year ago period.
Revenue for the quarter of $2.2 million was down 86 percent
from last year when the company recorded deferred revenue due
to the termination of the Merck collaboration.
Total operating expenses for the second quarter were $18.5
million, while expenses were $13 million last year, prior to
restarting the heplisav clinical program last September.
In March, the company's auditors expressed doubts on its
ability to continue as a going concern. [ID:nSGE62F0EP]
Shares of the company fell 6 percent in afterhours trade to
$2.07. They closed at $2.21 Friday on Nasdaq.
(Reporting by Krishnakali Sengupta in Bangalore; Editing by