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Vir Biotechnology
(NASDAQ:VIR)
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Rating:58Neutral
Price Target:
$10.50
▼(-2.33% Downside)
Action:Reiterated
Date:06/11/26
VIR scores mid-range: strong earnings-call catalysts (Astellas partnership cash and milestone potential, extended runway, and encouraging HDV/oncology program progress) are offset by weak financial performance (collapsed revenue base, large ongoing losses and cash burn) and soft technical momentum (price below key moving averages with negative MACD). Valuation is difficult to support due to negative earnings, while the governance update is a small incremental positive.
Positive Factors
Strategic Astellas collaboration
The Astellas partnership materially strengthens Vir's business model by transferring development/commercial risk, providing immediate cash and large milestone upside, and securing a 50/50 U.S. commercial split. This structural alliance supports de‑risked development, scales global reach, and aligns incentives for long‑term commercialization.
Negative Factors
Collapsed revenue and negative cash flow
The sharp revenue decline and sustained large net losses mean the company cannot self‑fund operations from product cash flow. Persistent negative operating and free cash flow forces reliance on partners and financings, increasing dilution and execution risk and constraining strategic optionality over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Astellas collaboration
The Astellas partnership materially strengthens Vir's business model by transferring development/commercial risk, providing immediate cash and large milestone upside, and securing a 50/50 U.S. commercial split. This structural alliance supports de‑risked development, scales global reach, and aligns incentives for long‑term commercialization.
Read all positive factors
Vir Biotechnology Key Performance Indicators (KPIs)
Any
Revenue by Segment
Provides insight into which business areas are driving sales, highlighting strengths and potential vulnerabilities in the company's revenue streams.
Provides insight into which business areas are driving sales, highlighting strengths and potential vulnerabilities in the company's revenue streams.
Data provided by:
The Fly
The FlyVir Biotechnology (VIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.54B
Dividend YieldN/A
Average Volume (3M)1.92M
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth213.96%
EPS Growth25.74%
CountryUS
Employees408
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.13
Shares Outstanding168,651,980
10 Day Avg. Volume2,314,431
30 Day Avg. Volume1,916,741
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)1.09
Price to Sales (P/S)12.18
P/FCF Ratio-2.11
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue21.19
Enterprise Value/Gross Profit7.70
Enterprise Value/Ebitda-3.17
Forecast
1Y Price Target
$21.43Price Target Upside99.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-1.93
Revenue Forecast (FY)$161.89M
Vir Biotechnology Business Overview & Revenue Model
Company Description
Vir Biotechnology, Inc. operates as an immunology company with commercialized products, dedicated to devising therapeutic solutions for the treatment and prevention of significant infectious diseases. Its pipeline features several key candidates: ...
How the Company Makes Money
Vir Biotechnology generates revenue primarily through collaborations and licensing/partnering arrangements with larger pharmaceutical companies, which may include upfront payments, research and development funding reimbursements, milestone payment...
Vir Biotechnology Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed substantial positive momentum: a large strategic collaboration with Astellas closed with immediate and near-term cash, meaningful capital raises, strong Phase 1 safety/early efficacy for VIR-5500, and highly differentiated Phase 2 HDV data with regulatory support and multiple registrational trials underway. Offsetting these positives are continued quarterly net losses, high R&D spend, the need for multiple pivotal datasets for filing in HDV, underdiagnosis in the target HDV population, and class-level safety/competitive risks for T cell engagers. On balance, the advances in clinical data, strategic partnerships, and strengthened balance sheet materially outweigh the near-term financial and execution risks.Positive Updates
Strategic Astellas Collaboration Closed
Entered and closed a global collaboration and licensing agreement with Astellas for VIR-5500 valued up to $1.7 billion; Vir received $75 million equity at closing and will receive a $240 million upfront payment within 30 days (total $315 million in proceeds), is eligible for up to $1.37 billion in additional milestones, and will share U.S. commercial profit 50/50.
Negative Updates
Net Loss Increased Year-over-Year
Net loss for Q1 2026 was $125.7 million versus $121.0 million in Q1 2025, an increase of $4.7 million (≈3.9%), indicating continued high near-term losses despite expense reductions.
Read all updates
Q1-2026 Updates
Positive
Negative
Strategic Astellas Collaboration Closed
Entered and closed a global collaboration and licensing agreement with Astellas for VIR-5500 valued up to $1.7 billion; Vir received $75 million equity at closing and will receive a $240 million upfront payment within 30 days (total $315 million in proceeds), is eligible for up to $1.37 billion in additional milestones, and will share U.S. commercial profit 50/50.
Read all positive updates
Company Guidance
The call provided specific operational and financial guidance and milestone timelines: the Astellas collaboration (up to $1.7B deal value) closed 04/15/2026 with a $75M equity payment received and a $240M upfront due within 30 days (total $315M), Vir is eligible for a $20M manufacturing milestone in 2027 and up to $1.37B more in milestones plus tiered double‑digit ex‑US royalties, and global development costs will be split 40/60 (Vir/Astellas) with U.S. commercial profits split 50/50; Vir ended Q1 with ~$809.3M cash (not including the $315M) and expects runway into 2028 after a $172.5M follow‑on offering closed 02/27/2026. Clinical guidance included plans to initiate registrational Phase 3 for VIR‑5500 in 2027 after Phase 1/expansion (monotherapy expansion dosing steps of 800, 2,000, and 3,500 µg/kg; no DLTs and no Grade 3 CRS at ≥3,000 µg/kg; durability signals to 27 weeks and case follow‑up at 8–12 months), first patient dosed in expansion and combination cohorts with enzalutamide to start dosing in coming months, and continued updates for VIR‑5818 (preliminary monotherapy and pembrolizumab combo data in 2026) and progressing VIR‑5525 enrollment. For hepatitis delta, SOLSTICE Phase 2 showed 41% TND at 24 weeks, ~66% TND at Week 48, and 88% TND at Week 96 with tobevibart+elebsiran (vs 46% or ~50% for antibody alone), no Grade ≥3 treatment‑related AEs or discontinuations, monthly two‑injection dosing, FDA Breakthrough and Fast Track and EMA PRIME/orphan designations, and registrational ECLIPSE studies on track (ECLIPSE 1: ~120 pts randomized 2:1, primary TND+ALT normalization at Week 48, topline 4Q2026; ECLIPSE 2: ~150 pts randomized 2:1, primary TND at Week 24; ECLIPSE 3: ~100 pts randomized 2:1 vs bulevirtide, primary TND at Week 48). Estimates for market sizing and access noted ~61,000 actively viremic U.S. patients (10–15% diagnosed today), ~104,000 in U.S.+Europe and ~180,000 across U.S./UK/EU composites, and pricing anchor points in the $60K–$165K (Europe) to ~$115K (Canada) range with analyst estimates of ~$150K–$250K for a severe orphan therapy.Vir Biotechnology Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 65.50M | 68.56M | 74.20M | 86.18M | 1.62B | 1.10B |
| Gross Profit | 180.27M | 56.85M | -404.44M | -486.65M | 994.83M | 581.54M |
| EBITDA | -438.52M | -426.09M | -508.91M | -641.64M | 761.06M | 555.61M |
| Net Income | -442.72M | -437.99M | -521.96M | -615.06M | 515.84M | 528.58M |
Balance Sheet | ||||||
| Total Assets | 1.03B | 1.00B | 1.40B | 1.92B | 2.80B | 1.95B |
| Cash, Cash Equivalents and Short-Term Investments | 472.36M | 462.86M | 905.35M | 1.52B | 2.40B | 708.14M |
| Total Debt | 95.58M | 186.91M | 97.89M | 124.54M | 127.97M | 137.49M |
| Total Liabilities | 212.82M | 237.55M | 248.43M | 328.82M | 724.13M | 522.42M |
| Stockholders Equity | 812.76M | 765.28M | 1.15B | 1.59B | 2.08B | 1.43B |
Cash Flow | ||||||
| Free Cash Flow | -444.81M | -396.61M | -453.65M | -800.36M | 1.60B | -69.41M |
| Operating Cash Flow | -446.05M | -391.78M | -446.35M | -778.78M | 1.66B | -47.59M |
| Investing Cash Flow | 195.39M | 310.37M | 499.37M | 164.73M | -1.19B | -140.81M |
| Financing Cash Flow | 165.71M | 3.79M | 4.39M | 7.38M | 34.76M | 100.33M |
Vir Biotechnology Technical Analysis
Positive
10.75
Price Trends
9.43
Positive
9.26
Positive
7.67
Positive
Market Momentum
0.25
Negative
57.55
Neutral
60.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VIR, the sentiment is Positive. The current price of 10.75 is above the 20-day moving average (MA) of 9.28, above the 50-day MA of 9.43, and above the 200-day MA of 7.67, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 57.55 is Neutral, neither overbought nor oversold. The STOCH value of 60.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VIR.
Vir Biotechnology Risk Analysis
Vir Biotechnology disclosed 58 risk factors in its most recent earnings report. Vir Biotechnology reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vir Biotechnology Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $1.54B | ― | -53.31% | ― | 213.96% | 25.74% | |
58 Neutral | $1.92B | -4.68 | -50.17% | ― | 34.26% | 23.00% | |
57 Neutral | $1.53B | -41.98 | -9.44% | ― | 7295.60% | 58.57% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.11B | -6.55 | -28.77% | ― | -23.48% | 25.73% | |
47 Neutral | $923.41M | -1.72 | 1870.38% | ― | -50.80% | 14.80% | |
43 Neutral | $255.77M | -5.95 | -38.76% | ― | ― | 15.81% |
* Healthcare Sector Average
VIR
Vir Biotechnology
10.04
4.77
90.51%
XNCR
Xencor
15.00
7.06
88.92%
IOVA
Iovance Biotherapeutics
4.31
2.61
153.53%
AVXL
Anavex Life Sciences
2.76
-7.23
-72.37%
IVA
Inventiva
3.91
0.89
29.47%
SEPN
Septerna, Inc.
34.00
23.15
213.36%
Vir Biotechnology Corporate Events
Executive/Board Changes
Vir Biotechnology Adds Timothy Coughlin to Board, Audit Chair
Positive
Jun 10, 2026
On June 9, 2026, Vir Biotechnology, Inc. expanded its Board of Directors from seven to eight members and appointed Timothy Coughlin, CPA, as a Class III director, with his term running until the 2028 annual meeting of stockholders. The company als...
Executive/Board ChangesShareholder Meetings
Vir Biotechnology Announces Board Changes and Shareholder Approvals
Neutral
May 28, 2026
On May 25-26, 2026, Vir Biotechnology announced that board member and Audit Committee chair Saira Ramasastry will resign due to a business conflict, effective May 26, with the company emphasizing that her departure is unrelated to any disagreement...
Business Operations and StrategyExecutive/Board Changes
Vir Biotechnology Announces Upcoming Chief Medical Officer Transition
Neutral
Apr 10, 2026
Vir Biotechnology, Inc. announced that Executive Vice President and Chief Medical Officer Mark Eisner, MD, MPH, will step down from his role, effective April 24, 2026. The company has begun a search for his successor, signaling an upcoming leaders...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.