Vir Biotechnology, Inc.
VIR · Biological Products, (No Diagnostic Substances) · 168.7M shares · +45%/yr ↑ shares · EDGAR filings ↗
Reference price $9.45 · est. market cap ~$1.6B — last insider sale, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D47Cash-rich but heavy-burning clinical-stage immunology/oncology developer whose recent late-stage readouts have disappointed.
Strengths
- Large cash cushion of $775M (89.6 pct) funds the registrational ECLIPSE HDV program
- Differentiated PRO-XTEN/dAIsY platforms and a broad infectious-disease/oncology pipeline
Risks
- Influenza VIR-2482 Phase 2 failed its primary and was terminated; COVID sotrovimab wins are commercially obsolete to variants
- Severe burn: FCF -$396M (5.6 pct), ~7.8-quarter runway, net margin -6.4x revenue
- No approved revenue-generating product; pivotal HDV data not due until late 2026/2027
Notable findings
- Chronic dilutionShare count +45%/yr over 4y (dilution)
- Net lossNet loss (net margin -638.9%)
- Cash burnNegative free cash flow (-396.6M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Insider sellingInsider selling — 25 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$3M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-11 — PHASE2 · Viral Hepatitis
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
100.0%
Operating margin
-699.2%
Net margin
-638.9%
Return on assets
-43.7%
Revenue growth (QoQ)
-7.6%
Current ratio
5.5×
Free cash flow
-$397M
EBITDA
-$468M
Cash & investments
$776M
Cash runway
8q
Stock comp / revenue
71.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-09 | Coughlin Timothy | Grant | 8.0K | — |
| 2026-06-09 | Coughlin Timothy | Grant | 8.0K | — |
| 2026-06-01 | Sabatini Brent | Sell | 379 | $9.45 |
| 2026-06-01 | Napolitano Janet | Sell | 3.2K | $9.45 |
| 2026-05-27 | MORE ROBERT J | Grant | 8.0K | — |
| 2026-05-27 | Sigal Charles Elliott | Grant | 8.0K | — |
| 2026-05-27 | Napolitano Janet | Grant | 8.0K | — |
| 2026-05-27 | BISCHOFBERGER NORBERT W | Grant | 8.0K | — |
| 2026-05-27 | Hatfield Jeffrey S. | Grant | 8.0K | — |
| 2026-05-27 | Farid Ramy | Grant | 8.0K | — |
| 2026-05-01 | SATO VICKI L | Sell | 22K | $10.05 |
| 2026-04-29 | De Backer Marianne | Other | 234K | — |
| 2026-04-29 | De Backer Marianne | Other | 234K | — |
| 2026-04-06 | De Backer Marianne | Sell | 73K | $9.16 |
| 2026-04-01 | SATO VICKI L | Sell | 22K | $9.07 |
| 2026-03-23 | Sabatini Brent | Sell | 7.7K | $9.12 |
| 2026-03-20 | O'Byrne Jason | Other | 2.5K | — |
| 2026-03-20 | O'Byrne Jason | Other | 2.5K | — |
| 2026-03-02 | SATO VICKI L | Sell | 200 | $9.98 |
| 2026-03-02 | SATO VICKI L | Sell | 22K | $9.50 |
| 2026-02-25 | de Verneuil Vanina | Sell | 14K | $9.82 |
| 2026-02-25 | Eisner Mark | Sell | 1.9K | $9.82 |
| 2026-02-24 | O'Byrne Jason | Sell | 1.6K | $9.53 |
| 2026-02-24 | SATO VICKI L | Option exercise | 42K | $1.49 |
| 2026-02-24 | SATO VICKI L | Sell | 42K | $9.75 |
| 2026-02-24 | SATO VICKI L | Sell | 200 | $10.26 |
| 2026-02-24 | Sabatini Brent | Sell | 1.4K | $9.53 |
| 2026-02-24 | Eisner Mark | Sell | 1.6K | $9.53 |
| 2026-02-24 | de Verneuil Vanina | Sell | 3.1K | $9.53 |
| 2026-02-24 | De Backer Marianne | Sell | 15K | $9.53 |
| 2026-02-23 | De Backer Marianne | Sell | 19K | $7.45 |
| 2026-02-23 | Eisner Mark | Sell | 2.1K | $7.45 |
| 2026-02-23 | Sabatini Brent | Sell | 1.8K | $7.45 |
| 2026-02-23 | de Verneuil Vanina | Sell | 4.4K | $7.45 |
| 2026-02-23 | O'Byrne Jason | Sell | 2.1K | $7.45 |
| 2026-02-22 | Eisner Mark | Grant | 55K | — |
| 2026-02-22 | Sabatini Brent | Grant | 25K | — |
| 2026-02-22 | O'Byrne Jason | Grant | 55K | — |
| 2026-02-22 | de Verneuil Vanina | Grant | 55K | — |
| 2026-02-22 | De Backer Marianne | Grant | 285K | — |
| 2026-02-13 | Sabatini Brent | Sell | 1.5K | $7.79 |
| 2026-02-02 | SATO VICKI L | Sell | 22K | $7.71 |
| 2026-01-02 | SATO VICKI L | Sell | 22K | $5.93 |
| 2025-12-01 | SVF Endurance (Cayman) Ltd | Sell | 192K | $5.98 |
| 2025-12-01 | SATO VICKI L | Sell | 22K | $6.00 |
| 2025-11-28 | SVF Endurance (Cayman) Ltd | Sell | 61K | $6.44 |
| 2025-11-26 | SVF Endurance (Cayman) Ltd | Sell | 128K | $6.39 |
| 2025-11-25 | SVF Endurance (Cayman) Ltd | Sell | 236K | $6.38 |
| 2025-11-24 | SVF Endurance (Cayman) Ltd | Sell | 228K | $6.15 |
| 2025-11-17 | O'Byrne Jason | Sell | 6.8K | $5.56 |
| 2025-11-05 | de Verneuil Vanina | Sell | 2.4K | $5.16 |
| 2025-11-03 | de Verneuil Vanina | Sell | 1.4K | $5.86 |
| 2025-11-03 | SATO VICKI L | Sell | 22K | $5.64 |
| 2025-10-29 | SVF Endurance (Cayman) Ltd | Sell | 100 | $6.49 |
| 2025-10-28 | SVF Endurance (Cayman) Ltd | Sell | 24K | $6.50 |
| 2025-10-27 | SVF Endurance (Cayman) Ltd | Sell | 66K | $6.05 |
| 2025-10-24 | SVF Endurance (Cayman) Ltd | Sell | 47K | $5.96 |
| 2025-10-23 | SVF Endurance (Cayman) Ltd | Sell | 154K | $5.99 |
| 2025-10-22 | SVF Endurance (Cayman) Ltd | Sell | 144K | $6.15 |
| 2025-10-21 | SVF Endurance (Cayman) Ltd | Sell | 110K | $6.30 |
| 2025-10-20 | SVF Endurance (Cayman) Ltd | Sell | 221K | $6.20 |
| 2025-10-16 | SVF Endurance (Cayman) Ltd | Sell | 13K | $6.10 |
| 2025-10-15 | SVF Endurance (Cayman) Ltd | Sell | 17K | $6.07 |
| 2025-10-10 | SVF Endurance (Cayman) Ltd | Sell | 2.3K | $6.08 |
| 2025-10-09 | SVF Endurance (Cayman) Ltd | Sell | 249K | $6.14 |
| 2025-10-08 | SVF Endurance (Cayman) Ltd | Sell | 466K | $6.05 |
| 2025-10-07 | SVF Endurance (Cayman) Ltd | Sell | 72K | $5.60 |
| 2025-10-06 | SVF Endurance (Cayman) Ltd | Sell | 74K | $5.69 |
| 2025-10-03 | SVF Endurance (Cayman) Ltd | Sell | 450K | $5.56 |
| 2025-10-01 | SATO VICKI L | Sell | 22K | $5.84 |
| 2025-09-02 | SATO VICKI L | Sell | 22K | $4.99 |
| 2025-08-01 | SATO VICKI L | Sell | 22K | $4.99 |
| 2025-07-17 | Eisner Mark | Sell | 3.6K | $5.47 |
| 2025-07-15 | Eisner Mark | Sell | 6.8K | $5.47 |
| 2025-07-01 | SATO VICKI L | Sell | 22K | $5.10 |
| 2025-06-09 | MORE ROBERT J | Other | 14K | — |
| 2025-06-09 | MORE ROBERT J | Other | 14K | — |
| 2025-06-06 | BISCHOFBERGER NORBERT W | Other | 11K | — |
| 2025-06-06 | BISCHOFBERGER NORBERT W | Other | 11K | — |
| 2025-06-02 | Napolitano Janet | Sell | 3.2K | $5.05 |
| 2025-05-30 | Ramasastry Saira | Grant | 8.0K | — |
| 2025-05-30 | Napolitano Janet | Grant | 8.0K | — |
| 2025-05-30 | MORE ROBERT J | Grant | 8.0K | — |
| 2025-05-30 | Hatfield Jeffrey S. | Grant | 8.0K | — |
| 2025-05-30 | BISCHOFBERGER NORBERT W | Grant | 8.0K | — |
| 2025-05-30 | Farid Ramy | Grant | 8.0K | — |
| 2025-05-30 | Sigal Charles Elliott | Grant | 8.0K | — |
| 2025-05-30 | SATO VICKI L | Grant | 8.0K | — |
| 2025-04-03 | De Backer Marianne | Sell | 80K | $5.95 |
| 2025-02-26 | de Verneuil Vanina | Sell | 7.4K | $9.14 |
| 2025-02-24 | de Verneuil Vanina | Sell | 5.1K | $9.45 |
| 2025-02-24 | SCANGOS GEORGE A | Sell | 10K | $9.45 |
| 2025-02-24 | HANLY ANN M. | Sell | 14K | $9.45 |
| 2025-02-24 | Sabatini Brent | Sell | 1.6K | $9.45 |
| 2025-02-24 | De Backer Marianne | Sell | 16K | $9.45 |
| 2025-02-22 | Sabatini Brent | Grant | 20K | — |
| 2025-02-22 | de Verneuil Vanina | Grant | 35K | — |
| 2025-02-22 | De Backer Marianne | Grant | 240K | — |
| 2025-02-22 | O'Byrne Jason | Grant | 40K | — |
| 2025-02-22 | Eisner Mark | Grant | 40K | — |
| 2025-02-18 | SCANGOS GEORGE A | Sell | 11K | $9.81 |
| 2025-02-13 | Sabatini Brent | Sell | 1.6K | $9.15 |
| 2025-01-08 | SATO VICKI L | Sell | 11K | $12.52 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05461170 ↗ | SOLSTICE: Combination Therapy for the Treatment of Chronic Hepatitis D Infection. Hepatitis D, Chronic | PHASE2 | Active Not Recruiting | 2031-11-01 |
| NCT06960395 ↗ | Safety and Preliminary Efficacy of VIR-5525 and VIR-5525 + Pembrolizumab in Participants With Locally Advanced or Metastatic Solid Tumors Solid Tumor Malignancies, EGFR Positive Solid Tumors | PHASE1 | Recruiting | 2029-08-01 |
| NCT05997615 ↗ | Safety, Pharmacokinetics, and Preliminary Efficacy of VIR-5500 (AMX-500) in Prostate Cancer Hormone-refractory Prostate Cancer | PHASE1 | Recruiting | 2027-09-29 |
| NCT05356741 ↗ | To Access the Safety and Effects of Intravenous Administration of VIR-5818 Alone and in Combination With Pembrolizumab in Adult Participants With Locally Advanced or Metastatic HER2-Expressing Cancers Locally Advanced or Metastatic HER2-Expressing Cancers | PHASE1/PHASE2 | Recruiting | 2027-08-16 |
| NCT06903338 ↗ | A Study to Evaluate Tobevibart + Elebsiran in Chronic HDV Infection Viral Hepatitis | PHASE3 | Active Not Recruiting | 2026-12-31 |
| NCT07128550 ↗ | A Study to Evaluate Tobevibart+Elebsiran in Participants With Chronic HDV Infection Not Virologically Suppressed With Bulevirtide Viral Hepatitis | PHASE3 | Recruiting | 2026-12-01 |
| NCT07142811 ↗ | A Study to Evaluate Tobevibart+Elebsiran Versus Bulevirtide in Chronic HDV Infection Viral Hepatitis | PHASE2 | Active Not Recruiting | 2026-11-01 |
| NCT05484206 ↗ | Effect of Hepatic Impairment on the Pharmacokinetics and Safety of VIR-2218 and VIR-3434 Hepatic Impairment, Cirrhosis | PHASE1 | Recruiting | 2026-09-25 |
| NCT04856085 ↗ | Study of VIR-2218, VIR-3434, and/or PEG-IFNα in Subjects With Chronic Hepatitis B Virus Infection Hepatitis B, Chronic | PHASE2 | Completed | 2026-03-16 |
| NCT05844228 ↗ | A Study to Investigate the Effect of Renal Impairment on the Pharmacokinetics and Safety of VIR-2218 Renal Impairment | PHASE1 | Completed | 2025-03-01 |
| NCT05612581 ↗ | A Platform Study to Evaluate Investigational Therapies in Chronic Hepatitis B Infection Hepatitis B, Chronic | PHASE1/PHASE2 | Completed | 2024-10-15 |
| NCT04412863 ↗ | Study of VIR-2218 With or Without Pegylated Interferon Alpha-2a for Treatment of Chronic Hepatitis B Virus Infection Chronic Hepatitis B | PHASE2 | Completed | 2024-03-25 |
| NCT05567783 ↗ | A Phase 2 Study to Evaluate the Efficacy and Safety of VIR-2482 for the Prevention of Illness Due to Influenza A Influenza A | PHASE2 | Terminated | 2023-05-05 |
| NCT05280717 ↗ | Relative Bioavailability, Safety, and Tolerability of Single-dose Sotrovimab Injection in Adults (COSMIC) Covid19 | PHASE1 | Terminated | 2023-04-05 |
| NCT04725877 ↗ | VIR-1111: A Prototype Human CMV-based Vaccine for Human Immunodeficiency Virus (HIV) in Healthy Volunteers HIV I Infection | PHASE1 | Completed | 2022-12-05 |
| NCT04423393 ↗ | Study of VIR-3434 in Healthy Volunteers and Patients With Chronic Hepatitis B Virus Infection Chronic Hepatitis B | PHASE1 | Completed | 2022-10-24 |
| NCT04913675 ↗ | Intramuscular and Intravenous VIR-7831 (Sotrovimab) for Mild/Moderate COVID-19. Covid19 | PHASE3 | Terminated | 2022-07-19 |
| NCT04033406 ↗ | Study of VIR-2482 in Healthy Volunteers Influenza A | PHASE1 | Completed | 2021-11-01 |
| NCT04988152 ↗ | A Study to Investigate the PK, Safety, and Tolerability of Sotrovimab vs Placebo Administered IV or IM in Japanese and Caucasian Participants Covid19 | PHASE1 | Completed | 2021-09-02 |
| NCT04779879 ↗ | Safety, Tolerability and Pharmacokinetics of Second Generation VIR-7831 Material in Non-hospitalized Participants With Mild to Moderate COVID-19 Covid19 | PHASE2 | Completed | 2021-08-20 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Exec/director change | filing ↗ |
| 2026-05-28 | Exec/director changeShareholder vote | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-04-10 | Exec/director change | filing ↗ |
| 2026-03-04 | Exec/director change | filing ↗ |
| 2026-03-02 | Other | filing ↗ |
| 2026-02-26 | Material agreementExhibits | filing ↗ |
| 2026-02-23 | Material agreementResults3.02OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-09 | 0001628280-26-042237 ↗ |
| 8-K | 2026-05-28 | 2026-05-25 | 0001628280-26-038630 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001628280-26-031471 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001628280-26-031273 ↗ |
| 8-K | 2026-04-10 | 2026-04-07 | 0001193125-26-151209 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001193125-26-091447 ↗ |
| 8-K | 2026-03-02 | 2026-02-26 | 0001193125-26-084367 ↗ |
| 8-K | 2026-02-26 | 2026-02-25 | 0001193125-26-077416 ↗ |
| 10-K | 2026-02-23 | 2025-12-31 | 0001628280-26-010749 ↗ |
| 8-K | 2026-02-23 | 2026-02-19 | 0001628280-26-010740 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001628280-26-001768 ↗ |
| 8-K | 2025-12-16 | 2025-12-16 | 0001628280-25-057394 ↗ |