Invivyd Q3 2024 Earnings Report
Key Takeaways
Invivyd reported $9.3 million in PEMGARDA net product revenue for Q3 2024, an increase from $2.3 million in Q2 2024. The company ended the quarter with $106.9 million in cash and cash equivalents and is targeting near-term profitability. They highlight the updated PEMGARDA Fact Sheet and the initiation of dosing in the Phase 1 clinical trial of VYD2311.
PEMGARDA net product revenue reached $9.3 million in Q3 2024.
Invivyd ended Q3 2024 with $106.9 million in cash and cash equivalents.
The company aims for near-term profitability, targeting the first half of 2025.
Dosing began in the Phase 1 clinical trial of VYD2311 in August 2024.
Invivyd
Invivyd
Forward Guidance
Invivyd expects to end 2024 with at least $65 million in cash and cash equivalents, based on anticipated growth of net product revenue and various operational efficiency improvements.
Positive Outlook
- Anticipated growth of net product revenue
- Operational efficiency improvements
- Focus on commercial execution to drive revenue growth and market expansion
- Confidence in growth potential for PEMGARDA with updated Fact Sheet
- Potential of PEMGARDA to address unmet need of COVID-19 pre-exposure prophylaxis
Challenges Ahead
- Uncertainties regarding market acceptance and future sales of PEMGARDA
- Dependence on continued EUA for PEMGARDA
- Potential negative impacts from virologic activity data questioning pemivibart's neutralization
- Risk of failing to maintain acceptable safety, tolerability and efficacy
- Uncertainties regarding regulatory authorization or approval process