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Vir Biotechnology (VIR)
NASDAQ:VIR
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.1Last Year’s EPS
-0.88Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed predominantly positive momentum: a strategically valuable collaboration with Astellas that provides significant upfront capital, shared development burden, and global commercialization reach, together with compelling Phase I clinical data for VIR-5500 showing dose-dependent deep PSA declines, radiographic responses (45% ORR in RECIST-evaluable at high doses), limited high-grade CRS, and encouraging durability signals. Financial discipline improved in 2025 (R&D down 10%, SG&A down 23%, net loss reduced ~16%), and the company reports a strengthened cash position and runway into Q2 2028 when incorporating recent agreements. Key risks remain: the dataset is still early and relatively small, there are isolated higher-grade safety events (including two blurred-vision treatment-related discontinuations and one early Grade 3 CRS), certain payments are subject to third-party obligations and regulatory waiting periods, and continued dose optimization and longer follow-up are needed to confirm durability and broader applicability. Overall, the positives (deal, clinical signal, safety profile, financial improvements) substantially outweigh the current lowlights, though execution and maturation of data remain critical.Company Guidance
Strategic Collaboration with Astellas
Vir announced a global co-development and co-commercialization collaboration with Astellas for VIR-5500. Key terms include $315M upfront (comprised of $240M cash and $75M equity at $10.36/share), a $20M manufacturing tech-transfer milestone expected by mid-2027, up to $1.37B in additional development/regulatory/ex-U.S. commercial milestones, and total potential combined upfront and milestone payments of $1.7B. U.S. profits to be split 50/50; Vir has an option to co-promote in the U.S.; Astellas has exclusive ex-U.S. rights while Vir is entitled to tiered double-digit royalties and sales milestones; global development costs shared 40% Vir / 60% Astellas. Closing is subject to Hart-Scott-Rodino waiting period.
Compelling Phase I Efficacy Signals for VIR-5500
Phase I (cutoff Jan 9, 2026) enrolled 58 heavily pretreated mCRPC patients. At Q3-week doses ≥3,000 µg/kg (primary development focus): 11 RECIST-evaluable patients produced a 45% objective response rate (5 responders: 4 confirmed, 1 pending) and a 64% disease control rate. PSA outcomes were strong: 82% achieved PSA50, more than 50% achieved PSA90, and nearly 33% achieved PSA99 in the reported dataset. Dose-dependent antitumor activity was observed across PSA, RECIST and PSMA-PET measures.
Favorable Safety Profile and Therapeutic Window
No dose-limiting toxicities observed across dose-escalation cohorts; limited cytokine release syndrome (CRS) events predominately Grade 1 (fever) and Grade 2, with no Grade 3 CRS observed at doses ≥3,000 µg/kg. Overall, Grade ≥3 treatment-related adverse events occurred in 12% of patients and were mainly laboratory abnormalities. Prophylactic steroids or IL-6 blockade were generally not required (explored only in 3 patients at the highest 4,000 µg/kg cohort).
Durability Signals and Notable Case Studies
Several patients demonstrated durable responses with continued therapy up to 27 weeks in the dataset and illustrative case studies showing durable responses up to ~12 months, including complete resolution of multiple liver metastases and PSA99 declines in heavily pretreated patients with visceral disease.
Platform Validation (PRO-XTEN Dual Masking)
Data provide clinical validation for the PRO-XTEN dual masking approach: reduced systemic T-cell activation/CRS, ability to dose higher with less frequent administration (Q3-week preference), extended half-life via XTEN masks, and concordant tumor engagement across PSA, RECIST and PSMA-PET metrics—supporting broader pipeline potential (HER2, EGFR programs and 7 preclinical candidates).
Operational and Development Milestones
Dose escalation completed for Q1-week and Q3-week regimens; go-forward dose selected (in ~3,000–3,500 µg/kg maintenance range); transition to expansion cohorts planned for Q2 2026 (late-line mCRPC monotherapy, first-line mCRPC combination, metastatic hormone-sensitive combination); target to advance into Phase III development in 2027.
Improved Financial Discipline and Capital Position
2025 vs 2024: R&D expenses decreased to $456M from $507M, a $51M (10%) reduction; SG&A decreased to $92M from $119M, a $27M (23%) reduction. Net loss improved to $438M in 2025 from $522M in 2024 (an $84M, ~16% reduction). 2025 net change in cash and investments was approximately $314M (includes $64.3M Norgine reimbursement). Starting 2026 cash, cash equivalents and investments ~ $782M (excluding Astellas upfront/equity).
Extended Cash Runway
Including the net effects of the Norgine and Astellas agreements, Vir anticipates cash runway extending into the second quarter of 2028, enabling multiple upcoming value-creating milestones across the pipeline.
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
VIR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $7.43 | $9.49 | +27.73% |
Nov 05, 2025 | $5.40 | $5.12 | -5.19% |
Aug 06, 2025 | $5.08 | $4.35 | -14.37% |
May 07, 2025 | $5.61 | $5.41 | -3.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Vir Biotechnology (VIR) report earnings?
Vir Biotechnology (VIR) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Vir Biotechnology (VIR) earnings time?
Vir Biotechnology (VIR) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VIR EPS forecast?
VIR EPS forecast for the fiscal quarter 2026 (Q1) is -0.1.