Vir Q2 net loss $76.5M; revenue negative on $397.4M non-cash charge; >$2.6B cash

Vir Biotechnology, Inc.

2022-Q2 EPS reported $3.28 revenue$1,191,830,000

Net loss of $76.5M ($0.58 per share) vs net income of $61.8M ($0.48) in Q2 2021.
Total revenue negative ($40.6M) due to $397.4M non-cash charge for excess sotrovimab supply and manufacturing capacity.
Collaboration revenue from GSK was ($54.9M); $342.5M profit-share expected in Q3 2022.
Cash, equivalents, investments and profit-share payments exceed $2.6B, expected to fund operations for up to five years.
HERBERT 'SKIP' VIRGIN, CSO, stepping down Aug 30; CMO Phil Pang to lead R&D on interim basis.

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