| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 14.29 | 4.0% | 21.2% |
| Total Income | 14.29 | 4.0% | 21.2% |
| Expenditure | 60.11 | 5.7% | 123.9% |
| PBT | — | ||
| Net Profit | -44.39 | 7.2% | 202.8% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.14 | 7.7% | 16.7% |
Invivyd Reports Q2 2026 Financial Results and Business Highlights
14 Aug 2026 · 14 Aug, 1:50 am
Summary
Invivyd announced its financial results for the second quarter ended June 30, 2026, highlighting a 21% year-over-year increase in PEMGARDA® net product revenue to $14.3 million. The company also reported significant progress in its clinical trials, with enrollment completed for the DECLARATION pivotal trial and the LIBERTY study fully dosed, both anticipating top-line data in late Q3 2026. Despite increased R&D and SG&A expenses driven by clinical trial investments, Invivyd maintained a strong cash position of $160.1 million, expected to fund operations through key data readouts and potential commercial launch preparations.
Key Highlights
- 1
Invivyd reported Q2 2026 PEMGARDA® net product revenue of $14.3 million, a 21% increase compared to $11.8 million in Q2 2025.
- 2
The company completed rapid enrollment in the VYD2311 DECLARATION clinical trial expansion cohort and the LIBERTY clinical trial.
- 3
The DECLARATION pivotal clinical trial enrollment is complete, and the study is approaching its planned analysis.
- 4
The LIBERTY study is fully dosed with top-line data anticipated in late Q3 2026.
- 5
Invivyd maintained a strong balance sheet with Q2 2026 ending cash and cash equivalents of $160.1 million, anticipated to provide runway through the DECLARATION pivotal data readout and support potential commercial launch readiness for VYD2311.
- 6
R&D expenses increased to $29.4 million for Q2 2026, primarily due to higher contract research costs for the DECLARATION and LIBERTY clinical trials.
- 7
SG&A expenses rose to $29.5 million for Q2 2026, driven by increases in personnel, communications, and commercial-related costs.
Management Comments
Marc Elia
With our VYD2311 DECLARATION and LIBERTY clinical trials planned to wrap up in the coming weeks, we are looking forward to the next steps for vulnerable Americans. The public health need for antibody-based protection with attractive safety is enormous, and we are confident that many public health leaders and policy makers in the United States understand the importance of having non-vaccine options available for the American public health.
Bill Duke
We are pleased with continued growth of PEMGARDA, especially in the face of understandably diminished COVID vaccine utilization. We are pleased with our strong cash position as we approach planned top-line data for our VYD2311 pivotal program later this quarter. We have continued to diligently manage expenses, albeit during a period of critical heavy clinical investment in our pivotal VYD2311 program, which we expect to complete shortly as we move toward potential launch of VYD2311, if approved.
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