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Mar 31
Invivyd Q1 2025 Earnings Report
Invivyd reported lower revenue compared to Q4 but narrowed its net loss significantly in Q1 2025.
Key Takeaways
The company generated $11.3 million in PEMGARDA revenue while reducing R&D expenses and net loss compared to the same period last year. Invivyd remains focused on reaching near-term profitability and bolstering its antibody pipeline.
PEMGARDA net product revenue was $11.3 million in Q1 2025, down from $13.8 million in Q4 2024.
Net loss narrowed to $16.3 million, significantly improved from $43.5 million in Q1 2024.
Cash and cash equivalents stood at $48.1 million at quarter-end.
R&D expenses dropped by more than 65% YoY due to lower clinical and manufacturing costs.
Invivyd
Invivyd
Invivyd Revenue by Segment
Revenue by Segment
PEMGARDA Net Revenue
CapyFin.com Forward Guidance
Invivyd aims to achieve profitability in the first half of 2025, supported by revenue growth, expense control, and potential access to additional funding.
Positive Outlook
- Targeting near-term profitability by H1 2025
- Re-acceleration of PEMGARDA sales observed in early Q2
- Secured $30 million term loan facility for additional runway
- VYD2311 Phase 1 data expected later in Q2 2025
- Ongoing expansion of pipeline beyond SARS-CoV-2
Challenges Ahead
- Revenue declined sequentially from Q4 2024
- FDA declined EUA expansion request for PEMGARDA treatment use
- SG&A expenses increased YoY due to commercialization ramp-up
- Cash reserves decreased from $69.3M to $48.1M
- Uncertainty around continued EUA status for PEMGARDA