Vir Biotechnology Q3 net loss narrows on lower R&D costs

Overview

• U.S. clinical-stage biopharma's Q3 net loss narrowed from prior year

• Company ended Q3 with $901 mln in cash, excluding $90 mln from Gilead deal

• Lower R&D expenses due to non-recurring milestone and collaboration cost recoveries

Outlook

• Company expects topline data from Phase 3 ECLIPSE 1 trial in Q4 2026

• Vir plans to begin multiple pivotal trials for VIR-5500 in 2027

• Company anticipates cash, cash equivalents and investments will fund operations into H2 2028

Result Drivers

• R&D EXPENSES - Lower research and development expenses in Q3, mainly due to a non-recurring $75 mln milestone expense in the prior year and recognition of cost recoveries from collaborations with Astellas and Norgine

• SG&A EXPENSES - Higher selling, general and administrative expenses in Q3, attributed to increased advisory and legal fees

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Vir Biotechnology, Inc. is $20.50, about 82.7% above its November 3 closing price of $11.22

Reuters Recommended Reads

• Nov 3 - Beam Therapeutics posts wider than expected Q3 net loss as revenue drops

• Nov 3 - Arvinas Q3 revenue drops sharply on lower milestone payments

• Nov 4 - Viridian posts first Lumvoa revenue but net loss widens

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)