Vir Biotech Q3 net loss $213.7M; closes Sanofi TCE licensing deal, appoints new CFO

Vir Biotechnology, Inc.

2024-Q3 EPS reported -$3.07 revenue$61,831,000

Net loss $213.7M ($1.56 per share) vs $163.4M ($1.22) in Q3 2023; revenue $2.4M, down from $2.6M.
Closed exclusive worldwide license with Sanofi for three dual-masked T-cell engagers; paid $103.7M upfront.
Workforce reduction of ~25% (140 employees) as part of restructuring; expects ~435 employees by year-end.
Jason O'Byrne appointed as CFO effective Oct 2, 2024; brings 20+ years finance experience.
R&D expenses surged to $195.2M (including $102.8M Sanofi upfront IPR&D); SG&A down to $25.7M.

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