VIR · Vir Biotechnology, Inc.

Vir Biotechnology reported its first quarter 2026 financial results, highlighting a net loss of $125.7 million ($0.85 per share) compared to a net loss of $121.0 million ($0.88 per share) in the same period last year. The increase in net loss was primarily driven by higher research and development expenses, which decreased to $108.9 million from $118.6 million in Q1 2025, reflecting a $30.0 million expense in the prior year related to the restated Alnylam agreement, partially offset by increased CHD contract manufacturing costs and clinical expenses for CHD and oncology programs. Selling, general and administrative expenses were relatively flat at $23.3 million versus $23.9 million. The company ended the quarter with $809.3 million in cash, cash equivalents and investments, an increase of $27.7 million from year-end 2025, bolstered by a $172.5 million public offering of common stock. Additionally, Vir closed its global strategic collaboration with Astellas for VIR-5500, which includes a $315 million upfront payment and equity investment expected in Q2 2026. The company provided guidance that its cash position, including the Astellas proceeds and recent equity financing, is expected to fund operations into the second half of 2028. Key pipeline updates include positive Phase 2 SOLSTICE data for its CHD combination regimen (tobevibart and elebsiran), with 88% of evaluable participants achieving undetectable HDV RNA at Week 96, and the initiation of Phase 1 dose-expansion cohorts for VIR-5500 in prostate cancer. Management expressed confidence in the momentum, with CEO Marianne De Backer stating the Astellas collaboration 'ignited the next stage of development work.' The company anticipates Phase 3 ECLIPSE 1 topline data in Q4 2026 and expects to initiate pivotal Phase 3 trials for VIR-5500 in 2027.