Vir Biotechnology, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 02, 2024 at 04:05 pm EDT
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Vir Biotechnology, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 56.38 million compared to USD 62.96 million a year ago. Net loss was USD 65.28 million compared to USD 140.9 million a year ago.
Basic loss per share from continuing operations was USD 0.48 compared to USD 1.06 a year ago.
Vir Biotechnology, Inc. is an immunology company, which is focused on combining cutting-edge technologies to treat and prevent serious infectious diseases and other serious conditions. The Company's clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). It also has several preclinical candidates in its pipeline including those targeting influenza A and B, COVID-19, respiratory syncytial virus and human metapneumovirus (RSV and MPV), and human papillomavirus (HPV). The Company's pipeline includes VIR-1949, VIR-7229, VIR-2981, VIR-8190, and HIV Cure. It also engaged in developing tobevibart, a monoclonal antibody also known as VIR-3434, and Elebsiran, an siRNA also known as VIR-2218, for the treatment and suppression of chronic HDV. Its Elebsiran is an investigational HBV-targeted siRNA that reduces HBsAg, a protein which is required for the HDV viral life cycle.