Business
Vir Biotechnology Provides Corporate Update and Reports Third Quarter 2021 Financial Results
– To date, binding sales agreements for more than 420,000 doses of sotrovimab secured worldwide – – In the third quarter, well over 50,000 doses delivered and
About this update from Vir Biotechnology, Inc.
[{"type":"text","content":"– To date, binding sales agreements for more than 420,000 doses of sotrovimab secured worldwide – – In the third quarter, well over 50,000 doses delivered and $102.4M of sotrovimab collaboration revenue recognized – – Anticipated fourth quarter milestones include: topline sotrovimab intramuscular administration data, new hepatitis B data at AASLD and initial HIV vaccine immunology data – SAN FRANCISCO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Vir Biotechnology, Inc. (Nasdaq: VIR) today provided a corporate update and reported financial results for the third quarter ended September 30, 2021. “The third quarter was both rewarding and financially important for Vir. We made significant progress increasing global patient access to sotrovimab, and ongoing in vitro analyses continue to demonstrate its activity against all current WHO-defined variants of concern and interest, and many others. The binding agreements we have signed with governments around the world, including the U.S. government, recognize the important role sotrovimab has to play in the fight against this pandemic and represent Vir’s first meaningful revenues,” said George Scangos, Ph.D., chief executive officer of Vir Biotechnology. “We are equally excited about our fourth quarter milestones, as we anticipate sharing initial data regarding intramuscular administration of sotrovimab, as well as new data highlighting our ongoing efforts to develop a functional cure for chronic hepatitis B. Additionally, our strong cash position allows us both the flexibility and the opportunity to continue investing in our robust pipeline.” Corporate Update COVID-19 The Company has made significant progress increasing global patient access to sotrovimab in partnership with GlaxoSmithKline (GSK). To date, binding agreements have been received for the sale of more than 420,000 doses of sotrovimab worldwide, including a portion of those procured by the U.S. government. In addition, more than 220,000 doses have been reserved through other agreements.The Company and GSK continue to work actively with governments around the world to make sotrovimab available to patients in need. Multiple countries granted marketing authorizations for sotrovimab, under the brand name Xevudy®, during the third quarter: In August, the Australian Therapeutic Goods Administration (TGA) granted provisional marketing authori...