secwatch.observer — SEC 8-K summary
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Issuer:     Vir Biotechnology, Inc. (VIR)
CIK:        0001706431
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0000950170-22-016046
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706431/000095017022016046/0000950170-22-016046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706431/000095017022016046/vir-20220809.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-016046

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer