Chief Executive Officer & Director, Dynavax
Search every verified Ryan Spencer interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ryan Spencer, CEO of Dynavax, discussed the company's recent performance and outlook during a March 2025 interview at the JP Morgan Healthcare Conference. He stated that the company's adult hepatitis B vaccine, which uses Dynavax's proprietary adjuvant, achieved record revenue of $268 million in 2024, with continuous growth since its 2018 launch. Spencer also announced that enrollment for a shingles vaccine clinical trial had been completed, with data expected in the third quarter of 2025, and described the adjuvant as having broad applicability for other vaccines, including a collaboration with Mount Sinai on a universal influenza vaccine program. Regarding vaccine hesitancy and political factors, Spencer said the company has "no real insight" into the agendas of political figures such as Trump administration cabinet picks or Robert F. Kennedy Jr., but expressed confidence that Dynavax's adult hepatitis B vaccine is "somewhat insulated" from the political polarization seen in pediatric vaccine mandates. He noted that while some population segments remain hesitant, a large portion of adults are still amenable to vaccination. Spencer described 2025 as a "transformational year" for Dynavax, citing upcoming shingles data and continued revenue growth, and said the company is actively seeking to acquire new assets that could benefit from its late-stage and commercial capabilities.
“We announced a total revenue of $268 million for our lead asset, which is an adult hepatitis B vaccine that uses our proprietary adjuvant to improve the dosing regimen. We've been continuously growing since its launch in 2018, achieving record revenue every year.”
“We completed enrollment for our shingles clinical trial and expect data to be available in Q3 of this year. This leverages the power of our adjuvant to improve vaccine tolerability compared to current market options.”
“The adjuvant CPG 1018 is a TLR9 agonist that stimulates key immune cells to enhance the immune response. Importantly, it provides higher seroprotection with fewer doses and has a favorable tolerability profile, which is critical for vaccines.”
“Hepatitis B vaccination is now recommended for all adults in the US, making it one of the most widely recommended vaccines behind flu and COVID-19. This broad recommendation is a significant public health advancement.”
“While some parts of the population remain hesitant about vaccines due to beliefs or political elements emerging from the COVID-19 pandemic, a large portion of adults are still amenable to vaccination, and we expect to drive coverage rates much higher.”
“We have no real insight into the agendas of political figures like Trump's cabinet picks or RFK, but we are proud of our scientific data and believe our adult hepatitis B vaccine is somewhat insulated from political polarization seen in pediatric vaccine mandates.”
“Our adjuvant has broad applicability to enhance the effectiveness and tolerability of other vaccines. We collaborate with partners like Mount Sinai on universal influenza vaccine programs, providing our adjuvant as a meaningful component to complement novel antigen designs.”
“The universal flu vaccine is the Holy Grail and a very tough target. While we don't know when it will be achieved, ongoing innovation and diverse approaches in the industry give me hope that this challenge will eventually be solved.”
“We are very strong financially with our lead asset already committed to recurring profitability. However, the M&A and funding environment is relevant to us as it affects corporate development opportunities and access to capital for new ideas.”
“For 2025, we expect a transformational year with clear data from our shingles program and continued record revenue growth from our lead asset. We are also actively looking to leverage our late-stage and commercial capabilities by acquiring new assets that could benefit from our expertise.”
COVID-19 raised the public awareness of vaccines, but also of vaccine denialism and conspiracy theories. But for the companies ...
Sign in to search the full transcript archive, filter by topic, and access every quote from Ryan Spencer.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →