Vir Biotechnology, Inc. Stock Price, News & Analysis

Vir Biotechnology, Inc. (Nasdaq: VIR) announced that CEO George Scangos, Ph.D., will engage in a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 14, 2021, at 9:30 a.m. PT / 12:30 p.m. ET. Investors can access a live webcast from the Investors section of the Vir website, which will also be archived for 30 days after the event. The company emphasizes the importance of monitoring its website for material information and updates on its development pipeline, which focuses on serious infectious diseases.

Vir Biotechnology announces that CFO Howard Horn will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021, at 4:00 a.m. PT / 7:00 a.m. ET. The presentation will be available via live webcast on the company's website and archived for 30 days.

Vir focuses on leveraging immunologic insights and technology to combat infectious diseases, with a development pipeline targeting COVID-19, hepatitis B, influenza A, and HIV.

Vir Biotechnology has received the first marketing authorization for its monoclonal antibody, sotrovimab, in Australia. This approval from the Australian Therapeutic Goods Administration allows sotrovimab, branded as Xevudy®, to be used in adults and adolescents with COVID-19 at risk of severe outcomes. Sotrovimab has already been authorized for emergency use in the U.S. and received favorable opinions in other regions. Vir is collaborating with GlaxoSmithKline to distribute sotrovimab, which shows efficacy against current SARS-CoV-2 variants.

Vir Biotechnology, Inc. (Nasdaq: VIR) announced robust second-quarter 2021 results, achieving total revenues of $177.1 million, a significant increase from $67.0 million YoY. Key developments include the emergency use authorization of monoclonal antibody sotrovimab for high-risk COVID-19 patients and positive data showing its efficacy against prevalent variants. The company also advanced its hepatitis B portfolio, initiating multiple clinical trials. Notably, net income reached $61.8 million, or $0.48 per share, reversing a loss from the previous year.

Vir Biotechnology and GlaxoSmithKline have entered a Joint Procurement Agreement with the European Commission to supply up to 220,000 doses of sotrovimab, a monoclonal antibody treatment for COVID-19. This agreement aims to provide rapid access to sotrovimab for high-risk patients in participating EU Member States. Sotrovimab has shown a 79% reduction in hospitalizations/deaths in clinical trials. The companies are also pursuing ongoing evaluations to ensure effectiveness against new virus variants, emphasizing the urgent need for effective treatments amid the ongoing pandemic.

Vir Biotechnology (Nasdaq: VIR) announced it will provide a corporate update along with its financial results for Q2 2021 on August 5, 2021. The press release will be accessible after market close on their website. Vir focuses on combining immunologic insights with advanced technologies to combat serious infectious diseases, with a development pipeline that includes candidates targeting COVID-19, hepatitis B, influenza A, and HIV.

Vir Biotechnology announced on July 15, 2021, that the first patient has been dosed in the Phase 2 MARCH trial for VIR-2218 and VIR-3434, targeting chronic hepatitis B infection. This trial aims to assess the safety and efficacy of these investigational therapies, aiming for a functional cure in approximately 90 patients. The combination approach is expected to restore immune response against HBV, with primary endpoints focusing on treatment-emergent adverse events and achieving undetectable HBsAg. Both drugs utilize novel technologies that could enhance treatment effectiveness.

Vir Biotechnology announced promising results from Phase 2 trials of VIR-2218 and Phase 1 studies of VIR-3434 for chronic hepatitis B virus (HBV). Both therapies exhibited positive safety profiles and significant reductions in hepatitis B surface antigen (HBsAg). VIR-2218 showed dose-dependent HBsAg reductions and enhanced results when combined with pegylated interferon alfa. The Phase 1 trial of VIR-3434 indicated rapid HBsAg declines with no new safety concerns. A combination trial of both therapies is expected to start in the latter half of 2021.

The latest data from the Phase 3 COMET-ICE trial shows that sotrovimab significantly decreases the risk of hospitalization and death in high-risk adults with mild-to-moderate COVID-19 by 79%. This finding led the NIH to update its COVID-19 treatment guidelines, now endorsing sotrovimab for high-risk patients. The trial included 1,057 patients, with only 1% in the sotrovimab arm hospitalized compared to 6% in placebo. The companies aim to submit full data for peer review and pursue broader access, including an intramuscular formulation for easier administration.