Invivyd Q1 PEMGARDA Revenue Climbs 22% to $13.7M with $204.2M Cash
Invivyd’s Q1 2026 PEMGARDA revenue rose 22% to $13.7 million from $11.3 million in Q1 2025, and the company held $184.2 million in cash plus ~$20 million from its ATM offering. An IDMC reduced VYD2311 post-dose monitoring to 30 minutes after in vitro BA.3.2.2 neutralization data.
1. Q1 Financial Results
Invivyd reported net product revenue of $13.7 million for Q1 2026, up 22% from $11.3 million in Q1 2025. Operating expenses rose quarter-over-quarter, driven by DECLARATION pivotal program costs for VYD2311, with top-line data expected in Q3 2026.
2. VYD2311 Clinical Progress
Preclinical and clinical updates include in vitro neutralization of SARS-CoV-2 variant BA.3.2.2 by both PEMGARDA and VYD2311, and an IDMC recommendation reducing VYD2311 post-dose monitoring from two hours to 30 minutes. The DECLARATION trial reached full enrollment and underwent sample size re-estimation, while LIBERTY and pediatric DRUMMER studies are advancing on schedule.
3. Balance Sheet and Outlook
Invivyd closed Q1 2026 with $184.2 million in cash and cash equivalents and raised approximately $20 million through its ATM facility in April. The company anticipates major clinical spending on VYD2311 will conclude later this summer as it advances commercial launch planning.