Vir Biotechnology, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:05 pm EDT
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Vir Biotechnology, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 2.64 million compared to USD 374.56 million a year ago. Net loss was USD 163.41 million compared to net income of USD 175.31 million a year ago. Basic loss per share from continuing operations was USD 1.22 compared to basic earnings per share from continuing operations of USD 1.32 a year ago. Diluted loss per share from continuing operations was USD 1.22 compared to diluted earnings per share from continuing operations of USD 1.3 a year ago.
For the nine months, revenue was USD 69.39 million compared to USD 1,566.39 million a year ago. Net loss was USD 499.09 million compared to net income of USD 617.44 million a year ago. Basic loss per share from continuing operations was USD 3.73 compared to basic earnings per share from continuing operations of USD 4.66 a year ago. Diluted loss per share from continuing operations was USD 3.73 compared to diluted earnings per share from continuing operations of USD 4.58 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. 
