Vir Biotechnology, Inc. Stock Price, News & Analysis

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.

Vir Biotechnology announced significant advancements in COVID-19 therapeutics, including promising results for the human monoclonal antibody S309, effective against SARS-CoV-2. The research published in Nature highlights that S309 neutralizes SARS-CoV-2 live virus, potentially overcoming resistance. Clinical testing is set to commence in collaboration with GlaxoSmithKline this summer. Vir's candidates, VIR-7831 and VIR-7832, show potential to address evolving coronaviruses, emphasizing a high barrier to resistance and extended half-lives, paving the way for effective COVID-19 treatments.

Vir Biotechnology (Nasdaq: VIR) reported first-quarter financial results for 2020, highlighting a revenue increase to $5.7 million from $3.7 million in Q1 2019, largely due to higher grant revenue.

However, the company experienced a net loss of $77.2 million or $0.71 per share, significantly up from a $28.7 million loss last year. R&D expenses surged to $65.0 million driven by collaborations and clinical trial costs. The company is actively advancing its COVID-19 programs with ongoing clinical trials and partnerships with major firms like GSK and Samsung Biologics.

Vir Biotechnology, Inc. has announced that its 2020 Annual Meeting of Stockholders, originally scheduled for May 20, 2020, will now be conducted in a virtual-only format due to COVID-19 concerns. The online meeting will commence at 10:00 a.m. Pacific Time, with access beginning at 9:45 a.m. Stockholders of record as of March 27, 2020, can attend using a 16-digit control number. Guests can listen in but cannot vote or ask questions. The company encourages stockholders to vote in advance, regardless of attendance.

Vir Biotechnology (Nasdaq: VIR) has announced that its CEO, George Scangos, Ph.D., will present virtually at the BofA Securities 2020 Health Care Conference on May 14, 2020, at 12:40 pm PT / 3:40 pm ET. Investors and interested parties can access the live webcast through the Vir website, where it will also be archived for 30 days afterward. Vir Biotechnology focuses on treating serious infectious diseases using advanced immunologic technologies and has initiatives targeting various viruses, including SARS-CoV-2 and hepatitis B.