Vir Biotechnology, Inc. · NASDAQ:VIR
Vir Biotechnology — Q4 2023 Earnings Presentation
27 slides from Vir Biotechnology's earnings presentation, Feb 22, 2024
Slide 1: Corporate Overview
Corporate Overview February 22, 2024
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without limitation, statements regarding the near-term financial performance of Vir Biotechnology, Inc. (the
Slide 3: Vir's Vision: Powering the Immune System to Transform Lives
VIR’S VISION: POWERING THE IMMUNE SYSTEM TO TRANSFORM LIVES © 2024 Vir Biotechnology, Inc.™ 3
Slide 4: Vir in 2024: Anticipated Value-Driving Catalysts
Vir in 2024: Anticipated Value-Driving Catalysts Program Drug Candidates/Regimen Catalyst Timing Phase 2: SOLSTICE clinical data Chronic tobevibart (mAb) monotherapy tobevibart (mAb) + elebsiran (siRNA) combo ~15 participants per regimen at 12w Q2 Hepatitis Delta ~10 participants per regimen at 24w
Slide 5: Driving Growth in Infectious Disease and Beyond
Driving Growth in Infectious Disease and Beyond Phase 2 Growth Financial Catalysts Beyond Hepatitis Strength • Chronic Hepatitis • Next-gen antibodies • ~$1.63B in cash* to Delta (Q2:2024) in ID and beyond fund us through major inflection points • Chronic Hepatitis B • Proof-of-concept (Q4:2024) for
Slide 6: Broad Pipeline to Deliver Near-Term Growth
Broad Pipeline to Deliver Near-Term Growth siRNA Antibody T-cell Tr e a t m e n t / Disease Area Product Candidate Preclinical Phase 1 Phase 2 Phase 3 A u t h o r i ze d Collaborator Prevention Chronic tobevibart + elebsiran Treatment Alnylam Hepatitis Delta Chronic elebsiran + PEG-IFN-⍺ Treatment A
Slide 7: Potentially Transformative Treatment for Chronic Hepatitis Delta
PHASE 2 CATALYST: Potentially Transformative Treatment for Chronic Hepatitis Delta (Delta) © 2024 Vir Biotechnology, Inc.™ 7
Slide 8: Delta: Stopping the Most Severe Form of Viral Hepatitis
Delta: Stopping the Most Severe Form of Viral Hepatitis Unmet Need Vir’s Approach NEED FOR INCREASED D I A G N O S I S A N D T R E AT M E N T Dual knock-down of HBsAg + Entry inhibition tobevibart ± elebsiran 12M diagnosed with Delta globally 1 Investigational neutralizing mAb engineered for immun
Slide 9: Delta: Driving and Accessing the Delta Treatment Market
Delta: Driving and Accessing the Delta Treatment Market 1. Stimulate diagnosis by creating a Identifying patients to enhance transformative treatment engagement in care 2. Bridging testing to treatment by understanding who and where Delta patients are 3. Ensuring global access through early payor en
Slide 10: Delta: Promising Initial Data From Vir's Phase 2 SOLSTICE Trial
Delta: Promising Initial Data From Vir’s Phase 2 SOLSTICE Trial Demonstrated Anti-HDV Activity SOLSTICE TRIAL: tobevibart + elebsiran combination therapy 1 “If this result can be reproduced in a much larger group of participants, I believe this potentially once monthly therapy could be transformativ
Slide 11: Delta: SOLSTICE Phase 2 Data Readouts Expected in 2024
Delta: SOLSTICE Phase 2 Data Readouts Expected in 2024 Q1 Completion Q3 Phase 3 Study of Enrollment Design • 30 participants per regimen • Align with regulators • Includes CPT-A cirrhosis participants on next steps Q1 Q2 Q3 Q4 Q2 Additional Q4 Additional Treatment Data Treatment Data • 15 participan
Slide 12: Pursuit of a Functional Cure in Chronic Hepatitis B
PHASE 2 CATALYST: Pursuit of a Functional Cure in Chronic Hepatitis B (CHB) © 2024 Vir Biotechnology, Inc.™ 12
Slide 13: CHB: Two Approaches with Potential for Achieving a Functional Cure
CHB: Two Approaches with Potential for Achieving a Functional Cure Unmet Need Vir's Approach NEED FOR FUNCTIONAL CURE tobevibart + elebsiran + PEG-IFN-⍺ Investigational neutralizing mAb Investigational Immunomodulator to 300M engineered for immune engagement HBV-targeted siRNA augment immune respons
Slide 14: CHB: 3x Increase in HBsAg Seroclearance When Adding Tobevibart
CHB: 3x Increase in HBsAg Seroclearance When Adding Tobevibart* VIR-2218-1001 TRIAL MARCH TRIAL elebsiran PEG-IFN-α tobevibart elebsiran tobevibart elebsiran PEG-IFN-α EOT after 24w Tx 5.6% (N=1 of 18) 15.0 % (N=3 of 20) 14.3 % (N=3 of 21) HBsAg seroclearance HBsAg seroclearance HBsAg seroclearance
Slide 15: CHB: MARCH Phase 2 Data Readouts Expected in 2024/5
CHB: MARCH Phase 2 Data Readouts Expected in 2024/5 ‘23 ‘25 24w Off Treatment Data Completion of Enrollment (Post-48w Tx) • ~50 tobevibart + elebsiran participants • ~50 tobevibart + elebsiran participants • ~30 tobevibart + elebsiran + • ~30 tobevibart + elebsiran + PEG-IFN-α participants PEG-IFN-α
Slide 16: Growth Beyond Hepatitis: Next-Generation Research & Development
GROWTH BEYOND HEPATITIS: Next-Generation Research & Development © 2024 Vir Biotechnology, Inc.™ 16
Slide 17: Building on our Strengths to Grow in Infectious Disease and Beyond
Building on our Strengths to Grow in Infectious Disease and Beyond Our Core Capabilities Where We Will Apply Them Deep immunology & ✔ Infectious Disease: continued focus on virology expertise areas of high unmet need (e.g., HIV, influenza, RSV, COVID-19) World class mAb platform with ✔ AI-driven pro
Slide 18: Vir's Proprietary mAb Platform
Vir’s Proprietary mAb Platform: Our Goal: Best-in-Class mAbs via Discovery and Protein Engineering Discovery Protein Engineering Optimized mAb mAb platform enables mAb identification with unique features, combined with multi-parameter optimization mAb: monoclonal antibody; AI: artificial intelligenc
Slide 19: Next-Gen Protein Engineering: Proprietary AI/ML Tools and High Throughput Wet Lab Selection
Next-Gen Protein Engineering: Leveraging Proprietary AI/ML Tools and High Throughput Wet Lab Selection Proprietary process for holistic optimization of mAb properties that reduces time to clinic AI: artificial intelligence; HT: high throughput; ML: machine learning; IgG: immunoglobulin G mAb: monocl
Slide 20: Example: Using an AI-Powered Approach to Develop a Next-Gen COVID mAb
Example: Using an AI-Powered Approach to Develop a Next-Gen COVID mAb Sotrovimab VIR-7229 >2M doses delivered since 2020, Broad, potent, and more resistant to authorized in multiple markets ex- viral evolution in preclinical testing OUR GOAL US • Potent in vitro activity against dominant • Tolerates
Slide 21: Antibody Candidates: Expected to Enter the Clinic in the Next 12-24 Months
Antibody Candidates: Expected to Enter the Clinic in the Next 12- 24 Months Influenza A and B: Prevention RSV/MPV: Prevention VIR-2981 (neuraminidase- VIR-8190 (dual target targeting mAb) AI-engineered mAb) • Potent preclinical activity against major • Ability to potently neutralize strains of influ
Slide 22: T Cell-Based Viral Vector Platform: Clinical Proof-of-Concept in 2024
T Cell-Based Viral Vector Platform: Clinical Proof-of-Concept in 2024 T Cell-Based Viral Vector HIV: Prevention D I F F E R E N T I AT O R S VIR-1388 HIV T cell vaccine candidate • Designed to elicit abundant T cells that recognize viral proteins to Generates unique, abort primary infection potent
Slide 23: Financial Strength: Poised to Achieve Our Near- and Long-term Goals
FINANCIAL STRENGTH: Poised to Achieve Our Near- and Long-term Goals © 2024 Vir Biotechnology, Inc.™ 23
Slide 24: Strong Balance Sheet Enables Execution of Strategic Priorities
Strong Balance Sheet Enables Execution of Strategic Priorities Financial Highlights 2024 Capital Allocation Priorities Phase 2 pipeline advancement • Delta $1.63 billion • CHB cash and investments* Antibody platform generating multiple • Well capitalized potential near-term INDs Flexibility to inves
Slide 25: GAAP 2024 Financial Guidance
GAAP 2024 Financial Guidance Vir is providing full year 2024 guidance below (in millions): 2024 guidance 2023 actual (Provided on Feb 22, 2024)** GAAP combined R&D and SG&A expense range: $650 to $680 $768 The following expenses are included in the GAAP combined R&D & SG&A expense range: Non-cash st
Slide 26: Q4 2023: Financial Results
Q4 2023: Financial Results Three Months Ended December 31, Investor Relations – NASDAQ GS : VIR $ in millions 2023 2022 Change Analyst Coverage: Total revenues Bank of America: Geoff Meacham, Ph.D $16.8 $49.4 $(32.6) Barclays: Gena Wang, Ph.D., CFA Operating expenses: Cost of revenue 0.8 6.0 (5.2) C
Slide 27: Thank You
Thank You © 2024 Vir Biotechnology, Inc.™ 27