Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Vir Biotechnology ( (VIR) ) has shared an announcement.
On February 19, 2026, Vir Biotechnology and Astellas US LLC signed a collaboration and license agreement for VIR-5500, a PRO-XTEN dual-masked T-cell engager targeting PSMA that is in Phase 1 development for advanced prostate cancer. The deal, jointly announced on February 23, 2026, also includes a stock purchase agreement under which Astellas will invest about $75 million in Vir at a 50% premium to the recent 30-day volume-weighted average share price.
Under the collaboration, Vir will receive $335 million in upfront and near-term milestone payments, with potential to earn up to $1.37 billion in additional milestones plus tiered double-digit ex-U.S. royalties, while global development costs will be shared 60/40 in favor of Astellas. The structure gives Vir equal profit-and-loss sharing and an option to co-promote in the U.S., exclusive commercialization by Astellas ex-U.S., and the flexibility to opt out of cost sharing for higher milestone and royalty economics, positioning VIR-5500 as a cornerstone of Vir’s emerging oncology franchise and reinforcing Astellas’ strategy to deepen its prostate cancer and immuno-oncology pipeline.
Closing of the transaction is contingent on expiration or termination of the applicable Hart-Scott-Rodino waiting period and other customary conditions. Vir will share a portion of certain collaboration proceeds with Sanofi under an existing licensing agreement linked to the PRO-XTEN platform, while Astellas’ equity stake comes with one-year standstill, voting and lockup provisions that underscore the strategic nature of the partnership for both companies and their stakeholders.
The most recent analyst rating on (VIR) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Vir Biotechnology stock, see the VIR Stock Forecast page.
Spark’s Take on VIR Stock
According to Spark, TipRanks’ AI Analyst, VIR is a Neutral.
The score is held back primarily by weak financial performance (continued losses and negative cash flow) and limited earnings-based valuation support (negative P/E). These are partially offset by strong technical momentum and encouraging program progress plus liquidity/runway improvements highlighted in the earnings update and recent corporate developments.
To see Spark’s full report on VIR stock, click here.
More about Vir Biotechnology
Vir Biotechnology, Inc. is a clinical-stage biopharmaceutical company focused on harnessing the immune system to develop medicines for serious infectious diseases and cancer. Its pipeline includes programs for chronic hepatitis delta and multiple PRO-XTEN dual-masked T-cell engagers targeting validated solid tumor antigens, alongside a broader preclinical portfolio in infectious diseases and oncologic malignancies.
Astellas Pharma Inc. is a global life sciences company providing therapies in oncology, ophthalmology, urology, immunology and women’s health. The company is expanding an immuno-oncology pipeline that includes biologics and T-cell engagers, and has an established commercial footprint and leadership position in prostate cancer treatments worldwide.
Average Trading Volume: 1,851,980
Technical Sentiment Signal: Buy
Current Market Cap: $1.09B
Learn more about VIR stock on TipRanks’ Stock Analysis page.