Quarterly ResultMay 7, 2026, 06:02 AM
Vir Biotechnology Q1 Net Loss $(125.7)M; Raises $162.3M in Offering
AI Summary
Vir Biotechnology reported a net loss of $(125.7) million for the first quarter of 2026, a slight increase from $(121.0) million in the same period last year, though net loss per share improved to $(0.85). Total revenues significantly decreased to $(29) thousand. The company bolstered its liquidity with $162.3 million in net proceeds from a follow-on public offering in February 2026, bringing its total cash, cash equivalents, and investments to $809.3 million.
Key Highlights
- Net loss was $(125.7) million for Q1 2026, compared to $(121.0) million in Q1 2025.
- Net loss per share was $(0.85) for Q1 2026, an improvement from $(0.88) in Q1 2025.
- Total revenues were $(29) thousand in Q1 2026, down from $3.03 million in Q1 2025.
- Research and development expenses decreased to $108.9 million in Q1 2026 from $118.6 million in Q1 2025.
- Completed a follow-on public offering in February 2026, generating net proceeds of $162.3 million.
- Cash, cash equivalents, and investments totaled $809.3 million as of March 31, 2026.
- Recorded $4.3 million cost reimbursement from Norgine Agreement as a reduction of R&D expenses in Q1 2026.