EarningsQ2 2026 Earnings Report
MX:VIR Q2 2026 EPS Results
Actual EPS$8.60
Consensus EPS$6.09
Beat/MissBeat by +$2.51
One Year Ago EPS-$14.64
MX:VIR Q2 2026 Revenue Results
Actual Revenue$4.37B
Expected Revenue$2.49B
Beat/MissBeat by +$1.89B
YoY Revenue Growth+19582.54%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:VIR Upcoming Earnings
Vir Biotechnology's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:VIR Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
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.Company Guidance
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.
Robust Biomarker and Clinical Signals (HBsAg and ALT)
By Week 96 approximately 90% of combination-treated patients achieved HBsAg <10 IU/mL vs 25% with monotherapy (+65 percentage points). ALT normalization rate was 53%, with durable ALT declines through Week 96, supporting meaningful clinical activity.
Registrational Program Enrollment Complete — Near-Term HDV Catalysts
Enrollment is complete across all three Phase III ECLIPSE studies (ECLIPSE 1, 2 and 3). Top-line data expected: ECLIPSE 1 in Q4 2026 and ECLIPSE 2 and 3 in Q1 2027, creating a catalyst-rich period for hepatitis delta regulatory submission and commercialization planning.
Manufacturing and Commercial Readiness Progress
Drug substance process performance qualification (PPQ) manufacturing activity is complete for both elebsiran and tobevibart. Drug product PPQ batches are underway as planned. Human factor studies and co-packaging efforts are in progress to support monthly subcutaneous at-home and in-office administration.
Strengthened Balance Sheet — Material Cash Inflow
Cash, cash equivalents and investments ended Q2 2026 at approximately $1.01 billion, an increase of $198.5 million in the quarter. The company projects cash runway into the second half of 2028.
Significant Collaboration and License Revenue from Astellas
Q2 recognized $238.9 million in license and collaboration revenue (largely tied to the $240 million Astellas upfront), and the company received $315 million from Astellas during the quarter (a $240M upfront payment plus $75M equity investment). Collaborations with Astellas and Norgine plus a follow-on equity offering have generated over $0.5 billion since Dec 2025.
Profitability Inflection in Q2 2026
Reported net income of $80.1 million in Q2 2026 versus a net loss of $111.0 million in Q2 2025 — a positive swing of $191.1 million, primarily driven by collaboration/license revenue recognition.
Oncology Platform Advancement and Partnerships
PRO-XTEN T-cell engager program advanced: VIR-5500 (PSMA) entered multiple expansion cohorts (monotherapy and combinations) with plans to initiate Phase III registrational trials next year; secured manufacturing contract to support Phase III. VIR-5818 (HER2) and VIR-5525 (EGFR) dose escalations tracking to plan; pipeline includes seven preclinical assets and expected new candidate nominations in 2027.
MX:VIR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed