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Sep 30, 2022
Vir Q3 2022 Earnings Report
Vir achieved several milestones, including BARDA contract and advancements in hepatitis and influenza programs.
Key Takeaways
Vir Biotechnology reported a strong third quarter with total revenues of $374.6 million, driven by collaboration revenue from sotrovimab sales and a BARDA contract. The company is advancing its pipeline with multiple Phase 2 data readouts expected in 2023 and has a strong balance sheet with approximately $2.7 billion in cash and investments.
BARDA awarded Vir a contract with potential investment of up to $1.0 billion for infectious disease solutions.
GSK opted-in to exclusively collaborate on the development and commercialization of antibodies against respiratory syncytial virus (RSV).
Approximately 230,000 sotrovimab doses were delivered in Q3, all to countries outside of the US.
Phase 2 data from hepatitis B, hepatitis D and influenza A programs are expected in 2023.
Revenue by Segment
Forward Guidance
Vir Biotechnology is focused on advancing its pipeline of product candidates targeting infectious diseases, with multiple data readouts expected in the near term. The company anticipates continued collaboration with GSK and is pursuing new therapeutic and prophylactic solutions for COVID-19 and other respiratory diseases.
Positive Outlook
- Advancing key collaborations with government and industry.
- Continuing to respond to the global pandemic.
- Data expected from multiple Hepatitis B Virus (HBV) trials in the near-term.
- Novel combination strategy for Hepatitis D Virus (HDV) with significant promise for patients.
- Groundbreaking prophylaxis trial underway for Influenza.
Challenges Ahead
- Potential for unexpected safety or efficacy data or results observed during clinical trials or in data readouts.
- Difficulties in obtaining regulatory approval.
- Uncertainty as to whether the anticipated benefits of Vir’s collaborations with other companies can be achieved.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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