Vir Biotech Q1 revenue $63M (down 95% YoY); net loss $140.9M; new CEO Marianne De Backer

Vir Biotechnology, Inc.

2023-Q1 EPS reported -$1.06 revenue$62,957,000

Q1 2023 total revenues $63M vs $1.2B in Q1 2022 (-94.9%); net loss of $140.9M ($1.06/sh) vs net income of $518.6M.
Cash, equivalents, and investments $2.3B at March 31; anticipates ~$272M payment to GSK in Q2 2023 for excess sotrovimab.
Marianne De Backer joined as CEO in April 2023; Sung Lee appointed EVP & CFO in March 2023.
Pipeline: Phase 2 data readouts for influenza (mid-2023), hepatitis B (2023), hepatitis D (H2 2023); $10M Gates Foundation grant for HIV vaccine trial.
R&D expenses rose to $157.6M (up 75% YoY) driven by VIR-2482 influenza antibody program.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vir Biotechnology, Inc. reported first quarter ended March 31, 2023 results: revenue $63.0 million.

Period: first quarter ended March 31, 2023
Revenue: $63.0 million
Result: reported results

Exact text from the filing

Total revenues for the quarter ended March 31, 2023, were $63.0 million compared to $1.2 billion for the same period in 2022.

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

Vir Biotechnology, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-017880

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