Q3 Loss Narrows to $96M as Vir Flags ECLIPSE 1 Data This Quarter
VIR has more than doubled off its 52-week low of $4.815.
Summary
Vir posted a Q3 net loss of $96.3 million, or $0.57 per share, versus a $163.1 million loss a year ago, helped by R&D falling to $80.0 million from $151.5 million after a non-recurring $75.0 million milestone hit last year's quarter. Revenue was essentially nil at negative $188,000, so the quarter is a cash-burn story, not a sales story. Cash and investments stood at $901.3 million at September 30, down $106.5 million in the quarter, and management still expects funding into the second half of 2028. The real driver is the pipeline: topline ECLIPSE 1 hepatitis delta data are due this quarter, with ECLIPSE 2 and 3 in Q1 2027, and VIR-5500 has hit proof of concept with FDA Fast Track and pivotal trials planned for 2027. This follows the October 14 Gilead collaboration 8-K, which brought $90 million in cash including a $65 million upfront and a $25 million equity investment at a 30% premium, plus up to $1.74 billion in further milestones. Management also added David Liu as Chief Medical Officer and Suzanne Topalian to the board, rounding out the team after the CFO transition disclosed in the October 1 8-K.
At the time of this announcement, VIR was trading at $11.81 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2B. The 52-week trading range was $4.82 to $12.19. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.