Vir Biotechnology Inc. (VIR) Tops Q2 EPS by 94c

Vir Biotechnology Inc. (NASDAQ: VIR) reported Q2 EPS of $0.46, $0.94 better than the analyst estimate of ($0.48). Revenue for the quarter came in at $177.07 million versus the consensus estimate of $84.56 million.

“Vir made strong progress this quarter across our extensive infectious disease portfolio, the most notable of which is that our monoclonal antibody sotrovimab is now available for patients who become ill with COVID-19 and are at high risk for hospitalization,” said George Scangos, Ph.D., chief executive officer of Vir Biotechnology. “In lab experiments, sotrovimab retains efficacy against circulating variants of concern and interest, including the Delta, Delta Plus and Lambda variants. Additionally, its low dose may allow for more convenient intramuscular administration, which is now being tested in two clinical trials. Sotrovimab has been authorized for emergency use and, with our partner GSK, we have established supply agreements with multiple countries around the world. Together, we plan to submit a Biologics License Application to the FDA later this year and, in May of this year, the EMA began a rolling review of data to support a marketing authorization application in Europe.”

Dr. Scangos continued, “Beyond our lead program, we have built a deep and broad hepatitis B portfolio in our quest to develop a functional cure. We recently initiated a Phase 2 combination trial of VIR-2218 with VIR-3434, and another Phase 2 trial evaluating VIR-2218 with Gilead’s investigational TLR-8 agonist and nivolumab is planned to start soon. We also plan to share additional data later this year from our combination trial of VIR-2218 with pegylated interferon alfa and our VIR-3434 monotherapy trial.”

For earnings history and earnings-related data on Vir Biotechnology Inc. (VIR) click here.

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