NASDAQ$VIR
Vir Biotechnology Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Vir reported financial results, highlighted by sotrovimab's availability for high-risk COVID-19 patients and progress in hepatitis B portfolio.
Vir Biotechnology reported a net income of $61.8 million for the second quarter of 2021, a significant increase compared to a net loss of $31.2 million for the same period in 2020. The increase was primarily due to revenue recognition related to the license granted to GSK under the Company’s 2021 GSK agreement. Sotrovimab is now available for patients who become ill with COVID-19 and are at high risk for hospitalization.
- Sotrovimab is available for high-risk COVID-19 patients and retains efficacy against circulating variants.
- Supply agreements for sotrovimab established with multiple countries and a Joint Procurement Agreement signed with the European Commission.
- Phase 2 combination trial of VIR-2218 with VIR-3434 initiated for hepatitis B.
- EMA began a rolling review of data to support a marketing authorization application in Europe for sotrovimab.
Headline financials
Revenue & EPS history
Vir · Revenue · Quarterly
$177M
Revenue by segment
Vir · $8.4M total across 2 segments · Q2 2021
- License & collaboration revenue$5.3M—63.1%
- Grant revenue$3.1M—36.9%
Forward guidance
Vir Biotechnology is focused on advancing its pipeline of product candidates, including sotrovimab for COVID-19, VIR-2218 and VIR-3434 for hepatitis B, and other therapies for infectious diseases.
Tailwinds
- Sotrovimab is expected to maintain activity against new and emerging variants through in vitro studies.
- Initial data from the Phase 2 COMET-PEAK trial investigating intramuscular administration of sotrovimab is expected in the fall of 2021.
- Data from the Phase 3 COMET-TAIL trial for early treatment of COVID-19 is now expected in the second half of 2021.
- Initial clinical data from the Phase 1 trial of VIR-1111, an investigational HIV T cell vaccine, is expected in the second half of 2021.
- Additional data from the combination trial of VIR-2218 with pegylated interferon alfa and the VIR-3434 monotherapy trial are planned to be shared later this year.
Headwinds
- The Company and GSK are currently evaluating potential timelines for advancing VIR-2482 and other influenza therapies due to the relatively low incidence of influenza during the COVID-19 pandemic.
- There are limited clinical data available for sotrovimab.
- Serious hypersensitivity reactions, including anaphylaxis, have been observed with administration of sotrovimab.
- Clinical worsening of COVID-19 after administration of SARS-CoV-2 monoclonal antibody treatment has been reported.
- Benefit of treatment with sotrovimab has not been observed in patients hospitalized due to COVID-19.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+2.0%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-1.3%
Avg return
30 days after
43%
12 / 28 earnings
Positive
+27.7%
Q4 2025
Best reaction
-15.1%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.8% | -7.2% | -13.7% | |
| Q4 2025 | +27.7% | +22.3% | +20.6% | |
| Q3 2025 | -5.6% | -8.9% | +8.3% | |
| Q1 2025 | -3.4% | -16.2% | -2.9% | |
| Q4 2024 | -11.8% | -10.9% | -27.2% | |
| Q3 2024 | +21.8% | +26.8% | +4.7% | |
| Q2 2024 | -9.4% | -15.4% | -18.7% | |
| Q1 2024 | +18.9% | +13.6% | +17.5% | |
| Q4 2023 | +14.0% | +13.1% | -0.6% | |
| Q3 2023 | +12.5% | +8.3% | +24.4% | |
| Q2 2023 | -3.0% | -4.8% | -10.9% | |
| Q1 2023 | -3.5% | -4.5% | +7.5% | |
| Q4 2022 | -14.8% | -15.6% | -16.7% | |
| Q3 2022 | +15.0% | +20.3% | +23.7% | |
| Q2 2022 | +2.0% | -4.9% | -25.9% | |
| Q1 2022 | -3.1% | -1.4% | +12.5% | |
| Q4 2021 | +0.1% | -13.7% | -21.5% | |
| Q3 2021 | -15.1% | -11.7% | +20.4% | |
| Q2 2021 | +3.3% | +10.5% | +32.0% | |
| Q1 2021 | -1.0% | -8.5% | +3.5% | |
| Q4 2020 | -4.2% | -11.7% | -21.2% | |
| Q3 2020 | +8.2% | +5.8% | +26.0% | |
| Q2 2020 | -0.6% | -0.9% | -46.8% | |
| Q2 2019 | -0.6% | -0.9% | -46.8% | |
| Q1 2020 | -1.9% | -3.1% | +7.2% | |
| Q1 2019 | -1.9% | -3.1% | +7.2% | |
| Q4 2019 | +11.5% | +11.4% | +6.0% | |
| Q3 2019 | -3.0% | -0.5% | -3.7% | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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