Vir Biotechnology, Inc. Stock Price, News & Analysis

Vir Biotechnology will have its chief medical officer, Phil Pang, M.D., Ph.D., present at the Cantor Global Virtual Healthcare Conference on September 15, 2020, at 8:20 am PT / 11:20 am ET.

Investors can access a live webcast of the presentation through the Investors section of the Vir website, which will be archived for 30 days thereafter. The company continues to utilize its Investors page for material non-public information disclosures, complying with Regulation FD.

Vir Biotechnology will host a virtual presentation at the H.C. Wainwright 22nd Annual Global Investment Conference on September 16, 2020, at 11:00 am PT / 2:00 pm ET. The presentation will be led by Phil Pang, M.D., Ph.D., the chief medical officer of Vir. Interested parties can access the live webcast on the Investors section of their website, www.vir.bio, which will be available for 30 days post-event. Vir focuses on treating serious infectious diseases using advanced immunological technologies.

Vir Biotechnology, Inc. (Nasdaq: VIR) appointed Janet Napolitano to its board of directors, bringing extensive leadership experience from both public and private sectors. Napolitano previously served as Arizona's Governor and U.S. Secretary of Homeland Security, and was President of the University of California for seven years. She replaces Kristina Burow, a founding director essential to the company’s early growth. Napolitano aims to support Vir's mission to address global infectious diseases, aligning with her public health passions.

Vir Biotechnology announced the initiation of the Phase 2/3 COMET-ICE study for VIR-7831, a monoclonal antibody aimed at preventing COVID-19 hospitalizations in high-risk patients. The study will enroll approximately 1,300 participants, with initial results expected by the end of 2020 and full results in Q1 2021. If successful, VIR-7831 may be available for early access in mid-2021. This trial follows a collaboration with GlaxoSmithKline to develop treatments for coronaviruses, leveraging Vir's antibody platform to identify effective antiviral candidates.

Vir Biotechnology reported financial results for Q2 2020, showing revenues of $67.0 million, up from $2.0 million in Q2 2019, driven by significant licensing agreements. The company plans to initiate a Phase 2/3 trial for VIR-7831, a monoclonal antibody targeting SARS-CoV-2, in August, with initial data expected by year-end. R&D expenses rose to $79.7 million due to increased activity in clinical trials and collaborations. The net loss narrowed to $31.2 million from $33.9 million a year earlier, and cash reserves stood at $552.4 million.

Vir Biotechnology has appointed Elliott Sigal, M.D., Ph.D., to its board of directors. Dr. Sigal previously held prominent roles at Bristol-Myers Squibb, leading R&D initiatives that resulted in 14 new medicines. His extensive experience in biopharmaceuticals includes a focus on immuno-oncology and biologics. CEO George Scangos expressed enthusiasm about Dr. Sigal's leadership, citing his potential to enhance Vir's development pipeline aimed at treating infectious diseases. Vir’s current pipeline includes candidates targeting hepatitis B, SARS-CoV-2, and tuberculosis.

Vir Biotechnology, Inc. (Nasdaq: VIR) successfully closed its public offering, selling 8,214,285 shares at $42.00 each, generating gross proceeds of approximately $345.0 million. The offering included an option for underwriters to purchase an additional 1,071,428 shares. Registration for these securities became effective on July 7, 2020. Joint book-running managers included Goldman Sachs, BofA Securities, Cowen, and Barclays. The funds raised are intended to support Vir's clinical-stage pipeline focused on serious infectious diseases, including hepatitis B and SARS-CoV-2.

Vir Biotechnology, Inc. (Nasdaq: VIR) announced the pricing of an underwritten public offering of 7,142,857 shares at $42.00 each, aiming for gross proceeds of approximately $300 million. The offering is set to close on July 10, 2020, pending customary conditions. Additionally, underwriters are granted a 30-day option to buy up to 1,071,428 extra shares. Goldman Sachs, BofA Securities, Cowen, and Barclays are managing the offering. This capital is intended to bolster its pipeline targeting infectious diseases, including hepatitis B and SARS-CoV-2.

Vir Biotechnology has filed a registration statement for a proposed underwritten public offering of 6,200,000 shares of its common stock. Additionally, the underwriters may purchase up to 930,000 more shares. The offering price is yet to be determined, and is subject to market conditions. Goldman Sachs, BofA Securities, Cowen, and Barclays are the joint book-running managers for this offering. The company aims to utilize the proceeds to enhance its clinical-stage immunology initiatives targeting infectious diseases, including SARS-CoV-2 and hepatitis B.