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Mar 31, 2024
Vir Q1 2024 Earnings Report
Reported financial results for the first quarter ended March 31, 2024.
Key Takeaways
Vir Biotechnology reported a net loss of $65.3 million, or $(0.48) per share, for the first quarter of 2024. The company's cash, cash equivalents, and investments totaled $1.51 billion as of March 31, 2024. Total revenues for the quarter were $56.4 million, compared to $63.0 million for the same period in 2023.
Phase 2 chronic hepatitis delta SOLSTICE trial data abstract accepted for poster presentation at EASL Congress 2024.
Two additional hepatitis program data readouts are on track for the fourth quarter of 2024.
Cash, cash equivalents, and investments totaled $1.51 billion as of March 31, 2024.
Virtual R&D day planned for late November.
Revenue by Segment
Forward Guidance
The Company reiterates its full year 2024 guidance below, originally provided on February 22, 2024 (in millions): GAAP combined R&D and SG&A expense range:$650 to$680
Positive Outlook
- GAAP combined R&D and SG&A expense range: $650 to $680 million
- Stock-based compensation expense included in the GAAP combined R&D and SG&A expense range.
- Restructuring charges included in the GAAP combined R&D and SG&A expense range.
- Approximately three to four percent of the GAAP combined R&D and SG&A expense will be funded by grants.
- These grants are recognized as revenue.
Challenges Ahead
- The GAAP combined R&D and SG&A expense guidance does not include the effect of GAAP adjustments caused by events that may occur subsequent to the publication of this guidance
- Business development activities are not included.
- Litigation is not included.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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