Business
Vir Biotechnology Provides Corporate Update and Reports First Quarter 2023 Financial Results
– Multiple data readouts anticipated in 2023 from ongoing Phase 2 programsin hepatitis B and D, and influenza – – Industry veteran Dr. Marianne De Backer
About this update from Vir Biotechnology, Inc.
[{"type":"text","content":"– Multiple data readouts anticipated in 2023 from ongoing Phase 2 programsin hepatitis B and D, and influenza – – Industry veteran Dr. Marianne De Backer assumes CEO position prepared to lead Company through next phase of growth – – $2.3 billion in cash, cash equivalents, and investments as of March 31, 2023 – SAN FRANCISCO, May 04, 2023 (GLOBE NEWSWIRE) -- Vir Biotechnology, Inc. (Nasdaq: VIR) today provided a corporate update and reported financial results for the first quarter ended March 31, 2023. “Vir is at an exciting inflection point with three critical Phase 2 data readouts for hepatitis B, hepatitis D and influenza anticipated in the coming months,” said Marianne De Backer, M.Sc., Ph.D., MBA, Chief Executive Officer of Vir Biotechnology. “We believe that these near-term catalysts, together with the strength of our pipeline and balance sheet, position us well to continue bringing important new therapeutic options to patients worldwide and create long-term value.” Pipeline Programs Influenza The groundbreaking Phase 2 Prevention of Illness Due to Influenza A (PENINSULA) trial evaluating VIR-2482 remains ongoing with data expected in mid-2023. This is the first Phase 2 outpatient trial to evaluate the role of a monoclonal antibody in the prevention of influenza A illness. The PENINSULA trial is being supported in part with federal funds from the Department of Health and Human Services (HHS); Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under Other Transaction Number: 75A50122C00081.Initial data from the Phase 1b trial evaluating the safety of VIR-2482 in adults age 65 and older receiving a flu vaccine are also expected in mid-2023.VIR-2482, which incorporates Xencor’s Xtend™ technology, has been half-life engineered so that it may be possible for a single administration to provide coverage for an entire influenza season. Furthermore, because preclinical data suggest broad coverage, VIR-2482 is anticipated to have year-over-year activity and not require updating based on circulating strains. Hepatitis B Virus (HBV) Multiple trials evaluating the potential for VIR-2218 and VIR-3434 to achieve a functional cure for chronic HBV remain ongoing with data expected in 2023.Initiation of the Phase 2 PREVAIL platform trial (NCT05612581) and its THRIVE/...