Vir Biotechnology Q3 net loss narrows on lower R&D costs
VIR•Vir Biotechnology reported a third-quarter net loss of $96.3 million, which narrowed from a year earlier as research and development expenses fell. It ended the quarter with $901 million in cash, excluding $90 million from a Gilead deal, and expects its funds to support operations into the second half of 2028.
1. Quarterly results
Vir Biotechnology's third-quarter net loss narrowed from the prior year to $96.3 million. Lower research and development expenses reflected a non-recurring $75 million milestone expense in the prior-year quarter and cost recoveries from collaborations with Astellas and Norgine; selling, general and administrative expenses rose due to higher advisory and legal fees.
2. Cash and outlook
The company ended the quarter with $901 million in cash, excluding $90 million from a Gilead deal, and anticipates that cash, cash equivalents and investments will fund operations into the second half of 2028. Vir expects topline data from its Phase 3 ECLIPSE 1 trial in the fourth quarter of 2026 and plans to begin multiple pivotal trials for VIR-5500 in 2027.
