Invivyd Q4 Revenue Rises 25% to $17.2M; Cash Hits $226.7M
Invivyd reported Q4 2025 revenue of $17.2 million, beating estimates of $15.5 million and reflecting a 25% year-on-year increase in PEMGARDA sales. Cash reserves climbed to $226.7 million after over $200 million financing, while FDA Fast Track Phase 3 VYD2311 trial is fully enrolled with top-line data due mid-2026.
1. Q4 Financial Results
Invivyd posted Q4 2025 revenue of $17.2 million, surpassing the $15.5 million consensus. Earnings per share came in at -$0.064 versus estimates of -$0.06, reflecting ongoing R&D investment.
2. PEMGARDA Sales Growth
Sales of PEMGARDA (pemivibart) rose 25% year-over-year and 31% quarter-over-quarter, driving the revenue beat and indicating robust market uptake of the antiviral therapy.
3. Strong Cash Position
Cash and cash equivalents totaled $226.7 million at year-end, bolstered by over $200 million raised through financing in the second half of 2025, supporting operations into late 2027.
4. Phase 3 Trial Progress
The DECLARATION Phase 3 trial for VYD2311 achieved full enrollment and FDA Fast Track designation, with top-line efficacy and safety data expected by mid-2026 and expanded inclusion of pregnant and breastfeeding participants.