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Vir Biotechnology
(NASDAQ:VIR)
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Rating:56Neutral
Price Target:
$9.50
▲(9.32% Upside)
Action:Reiterated
Date:08/06/26
The score is anchored by mixed financial fundamentals: strong liquidity/low leverage and extended cash runway, but ongoing cash burn and a history of steep losses with revenue that is described as lumpy and milestone-driven. The earnings call was a meaningful positive (Phase III enrollment complete, strong clinical readouts, and major Astellas funding), while technicals remain neutral-to-bearish near term and valuation is constrained by negative earnings and no dividend yield.
Positive Factors
Strong cash runway
A pro forma cash balance near $1.01B with runway into H2 2028 provides durable funding for registrational readouts, CMC completion and commercialization setup. This reduces near-term financing pressure and enables execution of clinical and manufacturing milestones across 2026–2028.
Negative Factors
Revenue reliant on collaborations
Dependence on upfronts and milestone recognition creates revenue volatility and makes sustainable commercial cash flow uncertain. Long-term profitability will require either consistent partner deals or transition to recurring product sales, otherwise earnings remain tied to episodic licensing events.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash runway
A pro forma cash balance near $1.01B with runway into H2 2028 provides durable funding for registrational readouts, CMC completion and commercialization setup. This reduces near-term financing pressure and enables execution of clinical and manufacturing milestones across 2026–2028.
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.
Data provided by:
The Fly
The FlyVir Biotechnology (VIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.59B
Dividend YieldN/A
Average Volume (3M)2.09M
Price to Earnings (P/E)―
Beta (1Y)0.67
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. Volume1,683,386
30 Day Avg. Volume2,089,059
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$21.29Price Target Upside144.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-1.88
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 generates revenue primarily through collaborations and licensing/partnering arrangements with larger pharmaceutical companies, which may include upfront payments, research and development funding reimbursements, milestone payment...
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.
Read all updates
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 | 515.52M | 56.85M | -404.44M | -486.65M | 994.83M | 581.54M |
| EBITDA | -244.41M | -426.09M | -508.91M | -641.64M | 761.06M | 555.61M |
| 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 | -331.54M | -396.61M | -453.65M | -800.36M | 1.60B | -69.41M |
| Operating Cash Flow | -334.89M | -391.78M | -446.35M | -778.78M | 1.66B | -47.59M |
| Investing Cash Flow | -46.38M | 310.37M | 499.37M | 164.73M | -1.19B | -140.81M |
| Financing Cash Flow | 404.56M | 3.79M | 4.39M | 7.38M | 34.76M | 100.33M |
Vir Biotechnology Technical Analysis
Positive
8.69
Price Trends
9.30
Positive
9.41
Positive
8.25
Positive
Market Momentum
-0.03
Negative
57.54
Neutral
69.96
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 8.69 is below the 20-day moving average (MA) of 8.99, below the 50-day MA of 9.30, and above the 200-day MA of 8.25, indicating a bullish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 57.54 is Neutral, neither overbought nor oversold. The STOCH value of 69.96 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $2.06B | -81.85 | -6.31% | ― | 13520.11% | 74.95% | |
60 Neutral | $3.22B | -10.14 | -40.51% | ― | 34.52% | 41.20% | |
56 Neutral | $1.59B | -5.08 | -29.99% | ― | 1495.93% | 53.66% | |
56 Neutral | $1.72B | -10.65 | -28.66% | ― | -28.56% | 10.25% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.11B | -2.13 | 1870.38% | ― | -50.80% | 14.80% | |
48 Neutral | $297.56M | -8.20 | -31.41% | ― | ― | 29.68% |
* Healthcare Sector Average
VIR
Vir Biotechnology
9.49
5.13
117.66%
XNCR
Xencor
25.41
17.82
234.78%
IOVA
Iovance Biotherapeutics
7.03
4.43
170.38%
AVXL
Anavex Life Sciences
3.20
-6.24
-66.10%
IVA
Inventiva
4.64
0.19
4.27%
SEPN
Septerna, Inc.
43.80
32.87
300.73%
Vir Biotechnology Corporate Events
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...
Executive/Board Changes
Vir Biotechnology Adds Timothy Coughlin to Board, Audit Chair
Positive
Jun 10, 2026
On June 9, 2026, Vir Biotechnology, Inc. expanded its Board of Directors from seven to eight members and appointed Timothy Coughlin, CPA, as a Class III director, with his term running until the 2028 annual meeting of stockholders. The company als...
Executive/Board ChangesShareholder Meetings
Vir Biotechnology Announces Board Changes and Shareholder Approvals
Neutral
May 28, 2026
On May 25-26, 2026, Vir Biotechnology announced that board member and Audit Committee chair Saira Ramasastry will resign due to a business conflict, effective May 26, with the company emphasizing that her departure is unrelated to any disagreement...
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.