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VIR

Vir Biotechnology, Inc.

VIR

Vir Biotechnology, Inc. • NASDAQ
$6.42 ▲ 0.39% (+0.03)
Market Cap $892.41 M
52w High $14.45
52w Low $4.16
Dividend Yield 0%
P/E -1.77
Volume 813.27K
Outstanding Shares 139.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $240K ▼ $22.231M ▲ $-163.141M ▼ -67.975K% ▼ $-1.17 ▼ $-159.975M ▼
Q2-2025 $1.214M ▼ $22.111M ▼ $-110.958M ▲ -9.14K% ▼ $-0.8 ▲ $-115.672M ▲
Q1-2025 $3.032M ▼ $24.964M ▼ $-120.965M ▼ -3.99K% ▼ $-0.88 ▼ $-135.66M ▼
Q4-2024 $12.374M ▲ $40.735M ▲ $-104.589M ▲ -845.232% ▲ $-0.76 ▲ $-100.23M ▲
Q3-2024 $2.38M $38.456M $-213.717M -8.98K% $-1.56 $-215.696M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $506.513M ▼ $1.019B ▼ $223.355M ▼ $796.098M ▼
Q2-2025 $606.019M ▼ $1.193B ▼ $245.06M ▼ $947.472M ▼
Q1-2025 $801.662M ▼ $1.308B ▼ $263.908M ▲ $1.044B ▼
Q4-2024 $905.348M ▼ $1.399B ▼ $248.428M ▼ $1.15B ▼
Q3-2024 $914.474M $1.498B $257.629M $1.241B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-163.141M ▼ $-167.57M ▼ $40.446M ▼ $102K ▼ $-127.023M ▼ $-167.887M ▼
Q2-2025 $-110.958M ▲ $-120.219M ▼ $56.456M ▼ $2.046M ▲ $-61.717M ▼ $-122.757M ▼
Q1-2025 $-120.965M ▼ $-78.116M ▲ $126.818M ▼ $598K ▼ $49.3M ▼ $-79.745M ▲
Q4-2024 $-104.589M ▲ $-87.635M ▲ $140.737M ▲ $1.263M ▲ $54.365M ▲ $-90.042M ▲
Q3-2024 $-213.717M $-171.48M $118.603M $31K $-52.862M $-173.836M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Collaboration Revenue
Collaboration Revenue
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲
Contract Revenue
Contract Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Vir’s income statement shows a company in transition. Revenue spiked during the pandemic years when it benefited from COVID‑related products, but has since fallen back sharply to very low levels. Profitability followed the same pattern: brief periods of meaningful profit during the COVID window, followed by a return to sizable operating losses as those revenues disappeared. Today, the business looks like a typical clinical‑stage biotech again—dependent on research spending with limited product revenue, and running at a clear loss while it tries to advance its new programs.

Balance Sheet

Balance Sheet The balance sheet is relatively clean but has been shrinking from its peak. Assets and shareholders’ equity built up during the strong COVID years and have been drawn down since then as losses accumulated. Debt remains modest, which reduces financial strain, but cash has stepped down meaningfully from prior highs. Overall, Vir appears to have a capital structure appropriate for a development‑stage biotech—light on leverage, but with a cushion that is gradually being used to fund its pipeline.

Cash Flow

Cash Flow Cash flow has been volatile. Vir generated strong operating and free cash flow in the year when COVID‑related revenues were highest, but has otherwise burned cash in most years as spending on research and development outweighs inflows. Investment in equipment and facilities has been modest, so most of the cash usage is tied directly to running trials and the organization. The business model currently depends on outside funding or past cash reserves to support operations until new products can meaningfully contribute.

Competitive Edge

Competitive Edge Vir’s competitive position rests more on technology than on current commercial scale. It has carved out a focused strategy in chronic hepatitis delta and solid tumors—areas with serious unmet medical need—rather than trying to compete broadly across all infectious diseases or oncology. Its antibody discovery engine, the dAIsY AI platform, and especially the PRO‑XTEN masking technology provide a differentiated way to design potentially safer, more precise therapies compared with conventional antibodies and T‑cell engagers. However, Vir operates in crowded and fast‑moving fields with many larger, well‑funded rivals, so maintaining a lead will require strong clinical data and disciplined execution, not just promising science.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Vir’s story. The company has turned its attention toward a late‑stage program in chronic hepatitis delta and a group of early‑stage masked T‑cell engagers in oncology, all built on its proprietary platforms. These programs could be transformative if they confirm the early signals of strong efficacy with improved safety. At the same time, the pipeline is still largely in development, with only one program in pivotal trials and the rest in early clinical stages, so there is substantial scientific and regulatory uncertainty. R&D spending is heavy and will likely remain so as Vir pushes multiple programs forward, meaning its future depends heavily on successful clinical milestones and potential partnerships.

Summary

Vir Biotechnology looks like a post‑COVID reset story: it briefly enjoyed substantial pandemic‑driven revenue and profits, then reverted to being a research‑driven biotech focused on building a new franchise in hepatitis and oncology. Financially, it now runs consistent losses and uses cash to fund its pipeline, but carries limited debt and retains a meaningful, though declining, cash buffer. Strategically, its moat is based on differentiated platforms and a concentration on tough, underserved diseases rather than broad diversification. The main upside potential lies in proving out its hepatitis delta and PRO‑XTEN oncology programs; the main risks come from clinical, regulatory, and funding uncertainty typical for a company with limited recurring revenue and a high dependence on future trial outcomes.

NEWS

November 19, 2025 · 4:05 PM UTC

Vir Biotechnology to Participate in the 8th Annual Evercore Healthcare Conference

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November 9, 2025 · 6:07 PM UTC

Vir Biotechnology Announces AASLD The Liver Meeting® Presentation & New England Journal of Medicine Publication of Phase 2 Data Demonstrating Tobevibart & Elebsiran Combination Deliver High Rates of Undetectable HDV RNA with Favorable Safety Profile

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November 7, 2025 · 9:00 AM UTC

Vir Biotechnology to Participate in the Jefferies 2025 London Healthcare Conference

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November 5, 2025 · 4:05 PM UTC

Vir Biotechnology Provides Corporate Update and Reports Third Quarter 2025 Financial Results

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November 3, 2025 · 8:00 AM UTC

Vir Biotechnology Announces Completion of Enrollment in ECLIPSE 1 Phase 3 Trial for Chronic Hepatitis Delta

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