Vir Biotechnology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022 at 04:13 pm EDT
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Vir Biotechnology, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported negative revenue was USD 40.63 million compared to revenue of USD 177.07 million a year ago. Net loss was USD 76.49 million compared to net income of USD 61.81 million a year ago. Basic loss per share from continuing operations was USD 0.58 compared to basic earnings per share from continuing operations of USD 0.48 a year ago. Diluted loss per share from continuing operations was USD 0.58 compared to diluted earnings per share from continuing operations of USD 0.46 a year ago.
For the six months, revenue was USD 1,191.83 million compared to USD 179.05 million a year ago. Net income was USD 442.13 million compared to net loss of USD 107.1 million a year ago. Basic earnings per share from continuing operations was USD 3.34 compared to basic loss per share from continuing operations of USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 3.28 compared to diluted loss per share from continuing operations of USD 0.83 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.
VIR BIOTECHNOLOGY, INC. 
