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Vir Biotechnology
(NASDAQ:VIR)
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Rating:57Neutral
Price Target:
$12.00
▲(8.30% Upside)
Action:Reiterated
Date:10/08/26
VIR scores moderately due to a solid balance-sheet position and notably improved strategic/clinical momentum (Phase III enrollment completion, strong SOLSTICE efficacy, and extended cash runway), supported by a bullish technical setup. The score is held back primarily by weak underlying financial performance—continued losses and cash burn with results that are still heavily dependent on lumpy collaboration revenue—plus limited valuation support given negative earnings and no dividend.
Positive Factors
Strong Liquidity and Cash Runway
Vir’s approximately $1.01 billion liquidity and projected cash runway into the second half of 2028 provide meaningful funding for clinical development and commercial preparation. This reduces near-term financing pressure and gives the company time to advance several programs toward important regulatory and clinical milestones.
Negative Factors
Sustained Cash Burn
Persistent negative operating and free cash flow indicates that Vir is consuming liquidity to fund operations rather than generating internally supported growth. Continued development spending could shorten the current runway over time and increase dependence on collaboration proceeds or external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Liquidity and Cash Runway
Vir’s approximately $1.01 billion liquidity and projected cash runway into the second half of 2028 provide meaningful funding for clinical development and commercial preparation. This reduces near-term financing pressure and gives the company time to advance several programs toward important regulatory and clinical milestones.
Read all positive factors
Vir Biotechnology Key Performance Indicators (KPIs)
Any
Revenue by Segment
Provides insight into which business areas are driving sales, highlighting strengths and potential vulnerabilities in the company's revenue streams.
Provides insight into which business areas are driving sales, highlighting strengths and potential vulnerabilities in the company's revenue streams.
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The Fly
The FlyVir Biotechnology (VIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.88B
Dividend YieldN/A
Average Volume (3M)2.19M
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth1495.93%
EPS Growth53.66%
CountryUS
Employees367
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.85
Shares Outstanding169,215,960
10 Day Avg. Volume2,194,489
30 Day Avg. Volume2,186,369
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)1.09
Price to Sales (P/S)12.18
P/FCF Ratio-2.11
Enterprise Value/Market Cap0.68
Enterprise Value/Revenue4.22
Enterprise Value/Gross Profit4.39
Enterprise Value/Ebitda-4.77
Forecast
1Y Price Target
$21.29Price Target Upside92.11% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-1.77
Revenue Forecast (FY)$221.91M
Vir Biotechnology Business Overview & Revenue Model
Company Description
Vir Biotechnology, Inc. operates as an immunology company with commercialized products, dedicated to devising therapeutic solutions for the treatment and prevention of significant infectious diseases. Its pipeline features several key candidates: ...
How the Company Makes Money
Vir Biotechnology primarily generates revenue through collaborations and partnerships with larger pharmaceutical companies, which can include upfront payments, research and development reimbursements or cost-sharing, milestone payments tied to dev...
Vir Biotechnology Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
Overall the call conveyed strong clinical and commercial progress (notably robust SOLSTICE Week 96 efficacy, completion of registrational enrollment for ECLIPSE, manufacturing milestones for drug substance, a strengthened balance sheet with ~ $1.01B cash and substantive Astellas funding, and accelerated oncology development with VIR-5500 expansion cohorts). Offsetting risks include higher R&D and SG&A driven by milestone and one-time items, reliance on collaboration revenue for near-term profitability, low current HDV diagnosis rates that could limit short-term market uptake, remaining CMC/drug product activities, and ongoing C-suite hiring. On balance, the positives (clinical data, enrollment completion, cash runway, strategic partnerships and oncology momentum) materially outweigh the near-term operational and market risks.Positive Updates
Strong SOLSTICE Phase II Efficacy — High Rates of Viral Clearance (TND)
Complete Week 96 SOLSTICE results showed 88% target not detected (TND) in the intention-to-treat (ITT) population with elebsiran + tobevibart versus 53% with antibody monotherapy (a +35 percentage-point improvement). Last observation carried forward (LOCF) analysis showed 97% TND for the combination, signaling durable viral clearance and strong differentiation versus monotherapy.
Negative Updates
Quarterly R&D Spend Elevated
R&D expense rose to $135.3 million in Q2 2026 from $97.5 million in Q2 2025, an increase of $37.8 million (≈38.8%). The increase was driven primarily by a $48 million milestone payment to Sanofi (20% of the $240M Astellas upfront) and hepatitis delta qualification manufacturing costs.
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Q2-2026 Updates
Positive
Negative
Strong SOLSTICE Phase II Efficacy — High Rates of Viral Clearance (TND)
Complete Week 96 SOLSTICE results showed 88% target not detected (TND) in the intention-to-treat (ITT) population with elebsiran + tobevibart versus 53% with antibody monotherapy (a +35 percentage-point improvement). Last observation carried forward (LOCF) analysis showed 97% TND for the combination, signaling durable viral clearance and strong differentiation versus monotherapy.
Read all positive updates
Company Guidance
Vir guided that it finished Q2 2026 with approximately $1.01 billion in cash, cash equivalents and investments (up $198.5M QoQ) after receiving $315M from Astellas ($240M upfront + $75M equity), recognized $238.9M of license/collaboration revenue, reported Q2 R&D expense of $135.3M (incl. $5.5M stock‑based comp and a $48M Sanofi milestone), SG&A of $30.2M (incl. $6.9M stock‑based comp), and net income of $80.1M (vs a $111.0M loss YoY), and expects cash runway into H2 2028; clinical/timeline guidance included complete enrollment across all three Phase III ECLIPSE studies with ECLIPSE‑1 topline in Q4 2026 and ECLIPSE‑2/3 readouts in Q1 2027 (ECLIPSE‑2 assessing TND at 24 weeks after switch), SOLSTICE week‑96 efficacy of elebsiran+tobevibart showing 88% TND (ITT) and 97% TND (LOCF) vs 53% for antibody monotherapy, ~90% achieving HBsAg <10 IU/mL vs 25%, ALT normalization 53% and ~50% of patients Child‑Pugh A; manufacturing and regulatory readiness metrics included PPQ drug‑substance complete for both assets, progressing drug‑product PPQ, a Type B CMC meeting in July and human‑factor studies to support at‑home dosing/co‑packaging, and oncology guidance noted VIR‑5500 dosing in three monotherapy mCRPC populations, multiple expansion cohorts (enzalutamide enrolling; docetaxel and darolutamide cohorts starting), step‑up dosing at 800 / 2,000 / 3,500 µg/kg Q3 weekly, intent to start Phase III registrational trials next year, updated VIR‑5818 data expected H2 2026, continued VIR‑5525 escalation, a seven‑asset preclinical engine and plans to nominate additional candidates in 2027.Vir Biotechnology Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 303.23M | 68.56M | 74.20M | 86.18M | 1.62B | 1.10B |
| Gross Profit | 291.70M | 56.85M | 58.80M | 63.96M | 1.45B | 1.02B |
| EBITDA | -267.96M | -456.34M | -508.86M | -641.55M | 848.56M | 432.73M |
| Net Income | -251.68M | -437.99M | -521.96M | -615.06M | 515.84M | 528.58M |
Balance Sheet | ||||||
| Total Assets | 1.21B | 1.00B | 1.40B | 1.92B | 2.80B | 1.95B |
| Cash, Cash Equivalents and Short-Term Investments | 528.59M | 462.86M | 905.35M | 1.52B | 2.40B | 708.14M |
| Total Debt | 93.27M | 186.91M | 97.89M | 124.54M | 127.97M | 137.49M |
| Total Liabilities | 232.31M | 237.55M | 248.43M | 328.82M | 724.13M | 522.42M |
| Stockholders Equity | 982.49M | 765.28M | 1.15B | 1.59B | 2.08B | 1.43B |
Cash Flow | ||||||
| Free Cash Flow | -198.76M | -396.61M | -453.65M | -800.36M | 1.60B | -69.41M |
| Operating Cash Flow | -202.51M | -391.78M | -446.35M | -778.78M | 1.66B | -47.59M |
| Investing Cash Flow | -58.21M | 310.37M | 499.37M | 164.73M | -1.19B | -140.81M |
| Financing Cash Flow | 242.04M | 3.79M | 4.39M | 7.38M | 34.76M | 100.33M |
Vir Biotechnology Technical Analysis
Positive
11.08
Price Trends
10.36
Positive
9.83
Positive
9.13
Positive
Market Momentum
0.25
Negative
52.79
Neutral
69.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VIR, the sentiment is Positive. The current price of 11.08 is above the 20-day moving average (MA) of 10.98, above the 50-day MA of 10.36, and above the 200-day MA of 9.13, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 52.79 is Neutral, neither overbought nor oversold. The STOCH value of 69.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VIR.
Vir Biotechnology Risk Analysis
Vir Biotechnology disclosed 58 risk factors in its most recent earnings report. Vir Biotechnology reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vir Biotechnology Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $828.08M | 5.38 | 90.98% | ― | 1078.78% | ― | |
58 Neutral | $2.12B | -5.93 | 101.55% | ― | 68.72% | -737.08% | |
57 Neutral | $1.88B | -6.37 | -29.99% | ― | 1495.93% | 53.66% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.82B | -8.50 | 159.85% | ― | -61.64% | -158.19% | |
49 Neutral | $528.03M | -2.81 | -152.15% | ― | -21.91% | -134.63% | |
48 Neutral | $591.71M | -2.61 | -106.94% | ― | ― | ― |
* Healthcare Sector Average
VIR
Vir Biotechnology
11.12
5.32
91.72%
BCRX
BioCryst
8.29
1.07
14.82%
NVAX
Novavax
11.01
2.68
32.17%
ABUS
Arbutus Biopharma
4.18
0.07
1.70%
SLN
Silence Therapeutics
9.52
4.52
90.40%
VALN
Valneva
5.69
-4.68
-45.13%
Vir Biotechnology Corporate Events
Business Operations and StrategyProduct-Related Announcements
Vir Biotechnology gains FDA Fast Track for VIR-5500
Positive
Oct 8, 2026
On October 6, 2026, Vir Biotechnology announced that the U.S. Food and Drug Administration granted Fast Track designation to VIR-5500, a PSMA-targeted PRO-XTEN dual-masked T-cell engager co-developed with Astellas Pharma for late-line metastatic c...
Business Operations and StrategyExecutive/Board Changes
Vir Biotechnology Appoints Aziz Sawaf as New CFO
Positive
Oct 1, 2026
On October 1, 2026, Vir Biotechnology announced the appointment of Aziz Sawaf as Executive Vice President and Chief Financial Officer, effective October 5, 2026, with responsibility for finance, IT and investor relations. The move ends the interim...
Executive/Board Changes
Vir Biotechnology Names Brent Sabatini Interim Finance Chief
Neutral
Jul 24, 2026
On July 20, 2026, Vir Biotechnology said Executive Vice President and Chief Financial Officer Jason O’Byrne will step down from his role, effective August 3, 2026, to pursue another opportunity, with the company emphasizing that his departur...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.