other material
confidence high
sentiment negative
materiality 0.70
Vir Biotechnology discloses $220M exposure to Silicon Valley Bank after FDIC seizure
Vir Biotechnology, Inc.
- FDIC took control of Silicon Valley Bank (SVB) on March 10, 2023.
- Vir holds approximately $220 million in operating accounts at SVB as of March 10.
- Total cash, cash equivalents and investments were $2.4 billion as of December 31, 2022.
- Company is monitoring the situation but has not disclosed any impact on operations.