Vir Biotechnology Inc

Latest Results (06.03.2026):

Vir Biotechnology Inc. reported financial results for the fourth quarter and full year ended December 31, 2025. The quarter was marked by a major oncology collaboration with Astellas for VIR-5500, updated positive Phase 1 VIR-5500 data, a commercial license with Norgine for the tobevibart + elebsiran chronic hepatitis delta program, a cash and investments balance of $781.6 million, Q4 revenue of $64.1 million (driven by a $64.3 million upfront cost reimbursement), and a fourth-quarter net loss of $42.9 million (full-year net loss $438.0 million).

Key partnerships and corporate milestones

Vir Biotechnology Inc. announced a global strategic collaboration with Astellas to advance PSMA‑targeted PRO‑XTEN® dual‑masked TCE VIR‑5500 (subject to customary closing conditions) and a licensing agreement with Norgine for commercialization of tobevibart + elebsiran in Europe, Australia and New Zealand.

Clinical and pipeline updates

Updated Phase 1 VIR‑5500 monotherapy data show dose‑dependent anti‑tumor activity with a favorable safety profile; dose‑escalation is complete and a preliminary go‑forward dose/regimen has been set. Expansion cohorts are expected to begin in Q2 2026 and pivotal Phase 3 trials are planned for 2027. Tobevibart + elebsiran (SOLSTICE Phase 2) achieved HDV RNA TND in 88% (21/24) at Week 96; ECLIPSE 1 topline is expected in Q4 2026, and ECLIPSE 2/3 in Q1 2027.

Cash, liquidity and runway

As of December 31, 2025, Vir Biotechnology Inc. held $781.6 million in cash, cash equivalents and investments (down ~$29.1 million in Q4 and down ~$313.8 million for the full year). Management expects this funding to support operations into the second quarter of 2028, reflecting the expected net effects of the Astellas collaboration and equity investment.

Revenue and other income

Revenue for Q4 2025 was $64.1 million versus $12.4 million in Q4 2024; the increase was primarily the $64.3 million initial cost reimbursement/license revenue from the Norgine agreement. Full‑year 2025 revenue was $68.6 million versus $74.2 million in 2024, reflecting lower GSK license/collaboration and grant revenue partially offset by the Norgine license recognition.

Expenses and profitability

Q4 2025 net loss attributable to Vir Biotechnology Inc. was $42.9 million, or $0.31 per share (vs. net loss $104.6 million, or $0.76 per share, in Q4 2024). Full‑year 2025 net loss was $438.0 million, or $3.16 per share (vs. $522.0 million, or $3.83 per share, in 2024). R&D and SG&A both declined year‑over‑year (Q4 R&D $88.3M, full‑year R&D $456.0M; Q4 SG&A $23.6M, full‑year SG&A $92.1M), driven largely by restructuring savings and lower stock‑based compensation, partially offset by higher clinical and license‑related costs.

Other items and near‑term catalysts

Q4 cash receipts included a $64.3 million initial cost reimbursement from Norgine. Upcoming near‑term clinical readouts and presentations include the VIR‑5500 oral presentation at the 2026 ASCO Genitourinary Cancers Symposium (Feb 26) and planned expansion cohorts beginning in Q2 2026; ECLIPSE Phase 3 topline timing remains 2026–2027.