Vir Biotechnology Q3 net loss $163.4M; revenue down 99% YoY on sotrovimab sales decline

Vir Biotechnology, Inc.

2023-Q3 EPS reported -$3.73 revenue$69,393,000

Net loss of $163.4M ($1.22/share) vs net income of $175.3M ($1.32/share) in Q3 2022.
Total revenue $2.6M, down 99.3% from $374.6M a year ago due to lower sotrovimab sales.
Cash, equivalents and investments $1.7B; $67M paid to GSK for excess sotrovimab supply.
Secured ~$50M in new BARDA funding to advance next-gen COVID-19 mAb VIR-7229 through Phase 1.
Appointed Jennifer Towne, Ph.D., as EVP and Chief Scientific Officer, effective Nov 6, 2023.

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 0.924

Vir Biotechnology, Inc. reported third quarter ended September 30, 2023 results: revenue $2.6 million.

Period: third quarter ended September 30, 2023
Revenue: $2.6 million
Result: reported results

Exact text from the filing

Total revenues for the quarter ended September 30, 2023, were $2.6 million compared to $374.6 million 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 0001628280-23-036397

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