Vir Biotechnology, Inc. Stock Price, News & Analysis

Vir Biotechnology and GlaxoSmithKline announced the transition of the COMET-ICE study to Phase 3 for evaluating VIR-7831, a monoclonal antibody targeting COVID-19 in high-risk patients. Following a favorable safety review on September 30, 2020, the study will expand globally with results anticipated for the primary endpoint by January 2021. The trial involves approximately 1,300 non-hospitalized patients and aims to assess the efficacy and safety of VIR-7831. Further trials for both hospitalized patients and preventative treatments are also planned.

Vir Biotechnology has published a significant analysis of antibody responses to SARS-CoV-2, involving nearly 650 infected patients. The study reveals that antibody magnitude correlates with disease severity, with hospitalized patients showing higher levels. Key findings highlight a rapid decline in natural antibody response and identify the receptor binding domain (RBD) as the primary target for neutralizing antibodies. Collaborating with GSK, Vir is advancing therapies like VIR-7831 for early COVID-19 treatment, reflecting progress in vaccine and therapeutic design.

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.