Business
Invivyd Announces Preliminary Fourth Quarter 2024 Financial Results, Strong Revenue Growth, and Reiterates Goal of Near-Term Profitability
Preliminary Q4 2024 PEMGARDA™ (pemivibart) net product revenue of $13.8 million, 48% growth over Q3 2024 net product revenue of $9.3 millionPreliminary Q4
About this update from Invivyd, Inc.
[{"type":"text","content":"Preliminary Q4 2024 PEMGARDA™ (pemivibart) net product revenue of $13.8 million, 48% growth over Q3 2024 net product revenue of $9.3 millionPreliminary Q4 2024 total operating costs and expenses of approximately $32 million, 55% reduction compared to Q3 2024 operating costs and expenses of $71.6 millionPreliminary ending 2024 cash and cash equivalents of $69.3 million and $10.9 million of accounts receivableContinues to target near-term (by end of 1H 2025) profitability with existing cash and cash equivalents, anticipated growth of net product revenue, and continued reduction of manufacturing expenses Further update to be provided on Q4 2024 earnings call anticipated in late March in conjunction with Form 10-K filing WALTHAM, Mass., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Invivyd, Inc. (Nasdaq: IVVD), a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, today announced preliminary fourth quarter (Q4) financial results. Invivyd previously guided expectations to finish 2024 with $65 million or more in cash and cash equivalents and targeted near-term (by end of 1H 2025) profitability with existing cash and cash equivalents, anticipated net product revenue, and various operational efficiency improvements. With operational efficiency improvements underway, the company estimates that Invivyd ended 2024 with $69.3 million in cash and cash equivalents and $10.9 million of outstanding accounts receivable still to convert to cash, and continues to target profitability in the near-term. Based on currently available information, the company is announcing preliminary Q4 2024 PEMGARDA™ (pemivibart) net product revenue of $13.8 million, representing a 48% increase over Q3 2024 net product revenue of $9.3 million. Primarily driven by a reduction of manufacturing expenses, Invivyd is also announcing preliminary Q4 2024 total operating costs and expenses of approximately $32 million, representing a 55% reduction compared to Q3 2024 total operating costs and expenses of $71.6 million. Invivyd expects minimal manufacturing expenses in 2025. VYD2311 commercial manufacturing was substantially completed in 2024 to support up to one million doses of VYD2311, if authorized or approved, and related expenses were recorded as research and development expense. \"We are pleased with continued strong top-line revenue ...