8-K
filed August 1, 2024, 7:59 PM ET
ticker VIR
CIK 0001706431
earnings
confidence high
sentiment negative
materiality 0.80
Vir Bio Q2 net loss narrows to $138M; initiates restructuring cutting 25% of workforce
Vir Biotechnology, Inc.
2024-Q2 EPS reported
-$1.50
revenue$59,451,000
- Net loss of $138.4M ($1.02/sh) vs $194.8M ($1.45/sh) in Q2 2023; cash and investments $1.43B, down $78M in quarter.
- Strategic restructuring reduces workforce by ~140 employees (25%); phases out flu, COVID-19, and T-cell viral vector programs.
- Expects $11–13M in restructuring charges, ~$50M annual workforce cost savings from 2025, and ~$50M program savings through 2025.
- Lowers full-year 2024 GAAP operating expense guidance to $580–610M, excluding Sanofi transaction impact.
- Signed exclusive worldwide license with Sanofi for clinical-stage T-cell engagers; CMO Mark Eisner appointed June 2024.
Machine-readable event card
- schema_version
- secwatch.filing_event.v1
- accession
- 0001628280-24-034143
- form_type
- 8-K
- ticker
- VIR
- cik
- 0001706431
- company_name
- Vir Biotechnology, Inc.
- filed_at
- 2024-08-01T23:59:59+00:00
- discovered_at
- 2026-05-14T18:03:14.186770+00:00
- generated_at
- 2026-05-31T13:52:48.685483+00:00
- sec_items
- ["2.02", "2.05", "9.01"]
- event_type
- earnings
- sentiment
- negative
- materiality_score
- 0.8
- calibrated_materiality_score
- 0.8
- confidence
- high
- secwatch_canonical_url
- https://secwatch.observer/filing/0001628280-24-034143
- json_url
- https://secwatch.observer/filing/0001628280-24-034143.json
- markdown_url
- https://secwatch.observer/filing/0001628280-24-034143.md
- text_url
- https://secwatch.observer/filing/0001628280-24-034143.txt
- edgar_index_url
- https://www.sec.gov/Archives/edgar/data/1706431/000162828024034143/0001628280-24-034143-index.htm
- edgar_primary_document_url
- https://www.sec.gov/Archives/edgar/data/1706431/000162828024034143/vir-20240729.htm
- generated_by_model
- deepseek-v4-flash:cloud@v2
- review_status
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- human_reviewed
- false
- corrected
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- correction_note
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- correction_timestamp
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