Invivyd Posts $17.2M Q4 Revenue, $226.7M Cash, Launches Phase 3 VYD2311 Trial
Invivyd reported Q4 2025 net product revenue of $17.2M, up 25% YoY and 31% QoQ, ending the year with $226.7M in cash after $200M+ financing. The company has fully enrolled its Phase 3 DECLARATION trial for vaccine-alternative antibody VYD2311, with top-line data due mid-2026 and FDA Fast Track status.
1. Financial Performance
Invivyd achieved Q4 2025 net product revenue of $17.2M, up 25% year-over-year and 31% quarter-over-quarter, and closed the year with $226.7M in cash and equivalents after raising over $200M through financing.
2. DECLARATION Phase 3 Trial Milestones
The DECLARATION trial of VYD2311 has reached full enrollment, received FDA Fast Track designation, and IDMC recommendations now permit pregnant and breastfeeding participants, with top-line data slated for mid-2026.
3. Broader Pipeline and Leadership
Invivyd plans the LIBERTY Phase 3 comparative safety study versus mRNA COVID vaccines, a Phase 2 trial in Long COVID or vaccine injury, and appointed Michael Mina as Chief Medical Officer to support clinical development and commercialization strategies.