Dynavax Technologies Corporation (DVAX)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	0	220,223	219,959	179,889	179,811	179,733	179,656	179,583	178,601	177,615	176,636	175,673
Total stockholders’ equity	US$ in thousands	622,072	604,916	577,205	563,732	581,013	500,576	422,799	287,484	222,374	67,576	83,380	99,762	58,693	69,284	58,295	11,824	8,290	39,156	10,588	43,159
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.26	2.64	1.80	3.06	2.59	3.08	15.19	21.54	4.54	16.68	4.07

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $622,072K
= 0.00

The debt-to-equity ratio of Dynavax Technologies Corp. has shown a decreasing trend over the last four quarters, indicating a reduction in the company's reliance on debt to finance its operations compared to equity. In Q1 2022, the ratio was 0.77, which was relatively high but has since decreased gradually to 0.36 in Q4 2023, signifying a more favorable financial position regarding debt levels. This downward trend suggests that the company may be actively working to strengthen its balance sheet by reducing debt levels or increasing equity. Overall, the decreasing debt-to-equity ratio is a positive indicator of improved financial health and stability for Dynavax Technologies Corp.