| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 13.74 | 21.6% |
| Total Income | 13.74 | 21.6% |
| Expenditure | 56.88 | 101.5% |
| PBT | — | |
| Net Profit | -41.40 | 154.1% |
| OPM | — | |
| NPM | — | |
| EPS | -0.13 | 7.1% |
Invivyd Reports Q1 2026 Financial Results: PEMGARDA Revenue Up 22%
14 May 2026 · 14 May, 4:46 pm
Summary
Invivyd, Inc. announced its financial results for the first quarter ended March 31, 2026. The company reported PEMGARDA net product revenue of $13.7 million, a 22% increase compared to Q1 2025. Operating expenses increased due to the DECLARATION pivotal program costs for VYD2311, with top-line data expected in Q3 2026. The company's cash and cash equivalents were $184.2 million as of March 31, 2026, with an additional ~$20 million raised in April 2026.
Key Highlights
- 1
Invivyd achieved Q1 2026 PEMGARDA® net product revenue of $13.7 million, representing 22% growth versus Q1 2025 net product revenue of $11.3 million.
- 2
In vitro data showed continued neutralizing activity of pemivibart and VYD2311 against SARS-CoV-2 variant BA.3.2.2, confirming anticipated activity.
- 3
The DECLARATION trial Independent Data Monitoring Committee (IDMC) recommended a reduction of post-dose monitoring time from two hours to thirty minutes.
- 4
Operating expense increase quarter-over-quarter was primarily attributable to DECLARATION pivotal program costs for VYD2311, with top-line data anticipated in Q3 2026.
- 5
Invivyd reported a strong balance sheet with Q1 2026 ending cash and cash equivalents of $184.2 million, plus an additional ~$20 million in gross proceeds from usage of at-the-market (ATM) offering facility in April 2026.
Management Comments
Marc Elia
Invivyd is moving forward as fast as possible to bring Americans a solution to the major current problem in infectious disease prevention. Our VYD2311 REVOLUTION clinical program is proceeding on track, with the LIBERTY head-to-head safety and combination study of VYD2311 versus mRNA COVID vaccine planned to begin shortly. Related, we were pleased to recently publish a preprint focused on the side effect profile of a past Invivyd low-dose monoclonal antibody for COVID-19 prevention versus COVID vaccines that builds on recently presented randomized data demonstrating high degrees of systemic side effects following COVID vaccination, in strong contrast to our investigational COVID-19 monoclonal antibody approach. Further, and as we expected, we have confirmed in vitro neutralization activity of Omicron BA.3.2.2 variant virus with our antibodies. As a variant that appears to escape vaccine-induced neutralization, we note once again that our monoclonal antibodies have the potential to allow America to break the unsatisfactory annual cycle of trying to play catch-up with poorly tolerated, variant-specific vaccine boosts. Millions of vulnerable Americans deserve a better way to stay well, and we are working hard to bring a new option forward.
Bill Duke
PEMGARDA revenue continues to grow even as vaccine uptake appears to wane, and we are managing expenses diligently outside of our non-recurring pivotal clinical trial expenditures. We look forward to continued commercial execution, as well as managing our overall expenses responsibly as we anticipate the end of major clinical spending on VYD2311 later this summer. Meanwhile, we are pleased with our continued balance sheet strength and are well into launch planning for VYD2311.
Informational and educational content only. Not investment advice.