Welcome to our dedicated page for Vir Biotechnology news (Ticker: VIR), a resource for investors and traders seeking the latest updates and insights on Vir Biotechnology stock.
Vir Biotechnology, Inc. (Nasdaq: VIR) is a prominent immunology company pioneering the use of advanced technological innovations to address some of the globe's most challenging infectious diseases. Combining leading scientific expertise with management prowess, Vir Biotechnology focuses on creating solutions for diseases that currently have inadequate or non-existent treatments.
Vir's core business revolves around leveraging breakthroughs in immune programming to manipulate pathogen-host interactions effectively. The company employs a multi-program, multi-platform approach, guided by rigorous science and driven by significant medical needs. Its technology platforms comprise antibodies, T cells, innate immunity, and small interfering ribonucleic acid (siRNA).
The company's product pipeline targets severe infectious diseases, including hepatitis B (HBV), influenza A, human immunodeficiency virus (HIV), and tuberculosis (TB). Vir's revenue streams come from various sources, including collaboration revenue, contract revenue, grant revenue, and license revenue.
Vir's strategy includes internal development, collaborations, and acquisitions, positioning itself as a leader in the biotech space. Notably, Vir's recent collaboration with Brii Biosciences has led to significant advancements in the pursuit of a functional cure for HBV. Through this partnership, they have achieved Breakthrough Therapy Designations for BRII-877 and BRII-835, investigational treatments targeting HBV and chronic hepatitis D virus (HDV) infections.
The company's latest achievements highlight its focus on developing effective therapeutic regimens for chronic HBV infection, a disease affecting over 254 million people globally. With ongoing clinical trials and a commitment to scientific excellence, Vir Biotechnology is at the forefront of transforming the treatment landscape for infectious diseases.
Vir Biotechnology has initiated the Phase 2 PENINSULA trial, dosing the first participant with the investigational monoclonal antibody VIR-2482, aimed at preventing influenza A illness. Funded partly by a $55 million U.S. government grant, this trial will assess the efficacy and safety of two doses in about 3,000 healthy adults aged 18 to 64. Initial data is expected in mid-2023. VIR-2482 is designed to provide broad strain protection throughout a flu season and may address the current flu vaccine efficacy gap of around 40%.
Vir Biotechnology announced that Phil Pang, M.D., Ph.D., their executive vice president and chief medical officer, will present at the H. C. Wainwright 3rd Annual Hepatitis B Virus (HBV) Conference on October 18, 2022, at 10:30 a.m. PT / 1:30 p.m. ET. A live webcast of the presentation can be accessed on the Vir website and will be available for 30 days.
Vir focuses on immunology and has a pipeline targeting serious infectious diseases such as COVID-19 and hepatitis B.
Vir Biotechnology announces a multi-year contract with the Biomedical Advanced Research and Development Authority (BARDA), initially valued at $55 million, to develop VIR-2482, a monoclonal antibody for influenza. The contract has the potential to extend up to $1 billion for influenza and other infectious disease candidates. The Phase 2 trial for VIR-2482 is anticipated to start in late 2022, with initial data expected by mid-2023. This collaboration is aimed at enhancing public health responses to infectious disease threats.
On September 22, 2022, Vir Biotechnology announced the dosing of the first patient in the Phase 2 SOLSTICE trial aimed at treating chronic hepatitis D virus (HDV) infection. This trial evaluates the efficacy of VIR-2218 and VIR-3434, a combination strategy designed to reduce HDV viremia and block viral entry. Approximately 12 million people worldwide are affected by HDV, underscoring the urgency for effective treatment options. The initial results from SOLSTICE are expected in 2023, marking a significant step forward in addressing this serious health challenge.
Vir Biotechnology will participate in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 4:05 p.m. ET. Investors can access a live webcast via the Vir website, which will be archived for 30 days. The company focuses on treating serious infectious diseases using advanced immunologic technologies, with a pipeline aimed at COVID-19, hepatitis B and D, influenza A, and HIV.
Vir Biotechnology reported a net loss of $76.5 million for Q2 2022, significantly down from a net income of $61.8 million in Q2 2021. Total revenues dropped to $40.6 million, influenced by a $397.4 million non-cash charge related to excess sotrovimab supply. Despite this, the company holds over $2.6 billion in cash and equivalents, expected to fund operations for up to five years. Notably, approximately 265,000 sotrovimab doses were delivered in Q2 2022, exceeding initial projections, and the company anticipates important clinical milestones in its COVID-19 and hepatitis programs.
Vir Biotechnology, Inc. (Nasdaq: VIR) announced it will release a corporate update and financial results for Q2 2022 on August 4, 2022, after market close. Investors can access the press release on the company's website. Vir focuses on developing treatments for serious infectious diseases using innovative immunological technologies. Its pipeline includes candidates targeting COVID-19, hepatitis B and D, influenza A, and HIV.
Vir Biotechnology (Nasdaq: VIR) announced the resignation of Herbert “Skip” Virgin, M.D., Ph.D., effective August 31, 2022. He has accepted a position as chief medical officer at Altos Institute of Medicine but will remain on Vir’s Scientific Advisory Board. Phil Pang, M.D., Ph.D., Vir’s current chief medical officer, will oversee research and development during the transition. Virgin's contributions over nearly five years were pivotal in launching Vir's first product and advancing its pipeline against infectious diseases.
Vir Biotechnology announced promising results from its ongoing HBV clinical trials, presenting data on VIR-2218 and VIR-3434 at the International Liver Congress 2022. The six-dose regimen of VIR-2218 showed greater and lasting reductions in hepatitis B surface antigen (HBsAg). VIR-3434 demonstrated rapid reductions in HBsAg with the highest efficacy at the 300 mg dose. The company plans to start Part B of the Phase 2 MARCH trial by June's end. There were no safety concerns reported, and further data readouts are anticipated in 2022 and 2023.
Vir Biotechnology (Nasdaq: VIR) announced three accepted abstracts for oral and poster presentations at the International Liver Congress 2022, taking place June 22-26. The oral presentation will focus on Phase 2 trial data for VIR-2218, a potential functional cure for chronic hepatitis B virus (HBV) infection. Additionally, one poster will discuss dose-dependent durability from a Phase 1 trial of VIR-3434, while another will present preclinical data on the combination therapy of VIR-2218 and VIR-3434. These developments highlight the company's commitment to addressing the global health challenge posed by HBV.
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