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Dec 31, 2021
Vir Q4 2021 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2021.
Key Takeaways
Vir Biotechnology reported total revenues of $812.7 million for the quarter ended December 31, 2021, primarily driven by collaboration revenue from sotrovimab sales. Net income for the quarter was $525.3 million, or $3.92 per share diluted.
Significant progress made increasing global patient access to sotrovimab.
Approximately 1.7 million doses of sotrovimab sold to date.
$917.2 million of sotrovimab collaboration revenue recognized in 2021.
Multiple commercial and clinical value drivers expected across the portfolio in 2022.
Revenue by Segment
Forward Guidance
Based solely on the binding agreements received to date, the Company expects to recognize approximately $1.1 billion of sotrovimab collaboration revenues when the doses are delivered in the first half of 2022.
Positive Outlook
- Continue to advance its broad HBV portfolio aimed at the pursuit of a functional cure.
- Initial data from the first cohorts of Phase 2 MARCH trial of VIR-2218 in combination with VIR-3434, are expected in the first half of 2022.
- Additional data from the Phase 2 trial of VIR-2218 in combination with PEG-IFN-α are expected in the first half of 2022.
- Additional data from the Phase 1 monotherapy trial of VIR-3434 are expected in the first half of 2022.
- Additional data from the proof-of-concept Phase 1 trial of VIR-1111 are expected in the first half of 2022.
Challenges Ahead
- Initial feedback from the FDA question Vir’s conclusion that the 500 mg IV dose of sotrovimab retains activity against the BA.2 Omicron subvariant based on Vir’s current modeling assumptions.
- The FDA has asked for additional data to support Vir’s position.
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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