Vir Biotechnology, Inc. Stock Price, News & Analysis

Vir Biotechnology reported transformative advancements in its fourth quarter and full-year 2021 results, revealing a substantial collaboration revenue of $917.2 million from the sale of sotrovimab, with 1.7 million doses sold globally to date. The company anticipates an additional $1.1 billion in revenue from contracts for upcoming deliveries in early 2022. Efforts for various ongoing trials regarding hepatitis B, HIV, and flu treatments are also highlighted, alongside a strong cash position of approximately $909.5 million, providing flexibility for future investments.

Vir Biotechnology, Inc. (Nasdaq: VIR) will provide a corporate update and report its financial results for Q4 and full year 2021 on February 24, 2022. The update will include insights into the company’s performance and is expected to be accessible on its website post-market close. Vir specializes in immunology, focusing on serious infectious diseases, using four technology platforms designed to enhance the immune system. Its pipeline includes candidates targeting COVID-19 and other infectious diseases.

Vir Biotechnology has announced that preclinical data shows its investigational monoclonal antibody, sotrovimab, retains neutralizing activity against the BA.2 subvariant of Omicron. This data will be shared with global regulatory authorities, with publication expected soon. Sotrovimab is authorized for emergency use in the US and has been granted conditional marketing authorizations in several countries, including the EU and Australia. Despite recent findings suggesting some antibodies are ineffective against certain variants, Vir maintains sotrovimab's efficacy.

Vir Biotechnology announced the appointment of Johanna Friedl-Naderer as Executive Vice President and Chief Business Officer, effective March 2, 2022. With 25 years of global commercial experience, Friedl-Naderer will drive portfolio strategy and business development. Previously, she held leadership roles at Biogen, focusing on groundbreaking treatments for neurological conditions. Her expertise is expected to enhance Vir's growth and patient access to its products aimed at serious infectious diseases.

Vir Biotechnology has expanded its partnership with the Bill & Melinda Gates Foundation, focusing on novel "vaccinal antibody" technology aimed at treating HIV and preventing malaria. This initiative includes a $40 million equity investment and a $10 million grant to support clinical trials evaluating the antibodies' effectiveness. CEO George Scangos emphasized the importance of this collaboration in addressing global infectious diseases. The funding will enhance Vir's pipeline targeting serious conditions like COVID-19 and hepatitis B, aiming for significant public health advancements.

GlaxoSmithKline and Vir Biotechnology announced the submission to the FDA for an amendment to the Emergency Use Authorization (EUA) for sotrovimab, a monoclonal antibody for COVID-19 treatment, to include intramuscular administration alongside the existing intravenous option. This follows promising Phase 3 COMET-TAIL trial data showing that intramuscular administration is non-inferior to intravenous administration in high-risk patients. The companies aim to enhance treatment accessibility while maintaining efficacy and low adverse event rates.

Vir Biotechnology, Inc. (Nasdaq: VIR) announced an agreement with the US government to supply an additional 600,000 doses of sotrovimab, a monoclonal antibody for COVID-19 treatment, in Q1 2022. This brings the total secured doses to approximately 1.7 million globally. Preclinical studies show sotrovimab retains effectiveness against all tested SARS-CoV-2 variants, including Omicron and Delta. The firms plan to manufacture around 2 million doses in the first half of 2022. Sotrovimab is authorized under an Emergency Use Authorization for patients at high risk of severe COVID-19.

Vir Biotechnology (Nasdaq: VIR) announced that CEO George Scangos, Ph.D., will present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 1:30 p.m. ET. This event will be held virtually, and a live webcast can be accessed via the Investors section of the Vir website. The presentation will also be archived for 30 days for later viewing.

Vir Biotechnology focuses on immunology and has developed four technology platforms to treat serious infectious diseases, including COVID-19, hepatitis B, influenza A, and HIV.

Vir Biotechnology has published new preclinical research indicating that sotrovimab, a monoclonal antibody targeting SARS-CoV-2, maintains neutralizing activity against the Omicron variant and other variants of concern. This reinforces the efficacy of targeting a conserved region of the spike protein amidst rapid viral mutations. Data from the COMET-ICE trial demonstrated a 79% reduction in hospitalization or death for high-risk patients treated with sotrovimab. The product is authorized for emergency use in the U.S. and has received various marketing authorizations globally.