Invivyd Announces Closing of $57.5 Million Public Offering and Full Exercise of the Underwriter’s Option to Purchase Additional Shares

Rhea-AI Summary

Invivyd (Nasdaq: IVVD) has successfully closed its public offering, raising $57.5 million in gross proceeds. The offering included 89.2 million shares of common stock at $0.52 per share and 21.3 million pre-funded warrants at $0.5199 each. The underwriter, Cantor, fully exercised its option to purchase an additional 14.4 million shares.

The financing was led by RA Capital Management and Janus Henderson Investors. Funds will support the VYD2311 clinical program, research in RSV and measles, and advancement of the SPEAR Study Group's efforts regarding Long COVID and COVID-19 Post-Vaccination Syndrome treatments.

Positive

• None.

Negative

• Significant dilution with 89.2 million new shares issued
• Low offering price of $0.52 per share suggests weak market position
• Additional dilution potential from 21.3 million pre-funded warrants

Insights

Biotech Financial Analyst

Invivyd secured $57.5M in public offering to advance clinical programs, bolstering its financial position for future development.

Invivyd has successfully closed its public offering, raising $57.5 million in gross proceeds through the sale of 89.2 million common shares at $0.52 per share and 21.3 million pre-funded warrants at $0.5199 each. The underwriter fully exercised their option to purchase an additional 14.4 million shares, indicating strong demand for the offering. This financing was led by notable healthcare investors including RA Capital Management and Janus Henderson Investors.

The capital raise significantly strengthens Invivyd's cash position at a critical time. The company has outlined several specific uses for these funds, including advancing their VYD2311 clinical program, supporting pipeline research in respiratory syncytial virus (RSV) and measles, and furthering their SPEAR Study Group's research into monoclonal antibody therapy for Long COVID and COVID-19 Post-Vaccination Syndrome.

The $0.52 share price represents the current market valuation of the company, and the successful completion of this offering despite challenging market conditions for biotech companies demonstrates investor confidence in Invivyd's clinical pipeline and strategy. The involvement of specialized healthcare investors like RA Capital Management further validates the company's scientific approach and market potential. This infusion of capital provides Invivyd with an extended operational runway to advance multiple clinical programs without immediate financing pressure.

WALTHAM, Mass., Aug. 22, 2025 (GLOBE NEWSWIRE) -- Invivyd, Inc. (Invivyd) (Nasdaq: IVVD) today announced the closing of its previously announced underwritten public offering of 89,234,480 shares of its common stock, which includes the exercise in full by the underwriter of its option to purchase an additional 14,423,076 shares of common stock, at a public offering price of $0.52 per share and pre-funded warrants to purchase 21,342,442 shares of its common stock at a public offering price of $0.5199 per pre-funded warrant, which represents the per share price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. All of the shares and pre-funded warrants were offered by Invivyd. The gross proceeds from this offering were approximately $57.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Invivyd.

Cantor acted as sole book-running manager for the offering.

The financing was led by RA Capital Management and Janus Henderson Investors, with participation from multiple other new and existing healthcare focused investors.

Invivyd intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, for trial protocol development, planning, and advancement of the VYD2311 clinical program, research and development related to its pipeline programs such as respiratory syncytial virus (RSV) and measles, advancement of the Spike Protein Elimination and Recovery (SPEAR) Study Group efforts related to assessing the effects of monoclonal antibody therapy for Long COVID and COVID-19 Post-Vaccination Syndrome, and for working capital and other general corporate purposes.

The securities described above were offered by Invivyd pursuant to a shelf registration statement on Form S-3 (File No. 333-267643) filed with the U.S. Securities and Exchange Commission (SEC) on September 28, 2022 and declared effective by the SEC on October 5, 2022.

The offering was made by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A final prospectus supplement relating to the offering was filed with the SEC on August 22, 2025 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may also be obtained from Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 East 59^th Street, 6^th Floor, New York, New York 10022; or by e-mail at prospectus@cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Invivyd

Invivyd, Inc. (Nasdaq: IVVD) is a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2. Invivyd deploys a proprietary integrated technology platform unique in the industry designed to assess, monitor, develop, and adapt to create best in class antibodies. In March 2024, Invivyd received emergency use authorization (EUA) from the U.S. FDA for a monoclonal antibody (mAb) in its pipeline of innovative antibody candidates.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “could,” “expects,” “intends,” “potential,” “projects,” and “future” or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the anticipated use of the net proceeds from the offering. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause Invivyd’s actual results to be materially different than those expressed in or implied by Invivyd’s forward-looking statements. Factors that may cause Invivyd’s actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in the prospectus supplement relating to the offering filed with the SEC, in Invivyd’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 filed with the SEC, and in Invivyd’s other filings with the SEC, and in its future reports to be filed with the SEC and available at www.sec.gov. Forward-looking statements contained in this press release are made as of this date, and Invivyd undertakes no duty to update such information whether as a result of new information, future events or otherwise, except as required under applicable law.

Contacts:

Media Relations
(781) 208-1747
media@invivyd.com

Investor Relations
(781) 208-1747
investors@invivyd.com

FAQ

How much did Invivyd (IVVD) raise in its public offering?

Invivyd raised $57.5 million in gross proceeds through an offering of common stock and pre-funded warrants.

What is the price per share for Invivyd's public offering?

The common stock was offered at $0.52 per share, while pre-funded warrants were priced at $0.5199 each.

How will Invivyd use the proceeds from its 2025 offering?

The proceeds will fund the VYD2311 clinical program, research in RSV and measles, SPEAR Study Group efforts for Long COVID treatments, and general corporate purposes.

Who were the lead investors in Invivyd's 2025 public offering?

The financing was led by RA Capital Management and Janus Henderson Investors, with participation from other healthcare-focused investors.

How many shares did Invivyd issue in its August 2025 offering?

Invivyd issued 89.2 million shares of common stock and 21.3 million pre-funded warrants, including the full exercise of the underwriter's option for 14.4 million additional shares.