Vir Biotechnology 10-Q: Q2 2024 Update
Ticker: VIR · Form: 10-Q · Filed: 2024-08-01T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, biotechnology, financials, revenue
TL;DR
Vir Bio's Q2 10-Q shows revenue from collabs & contracts. Still burning cash but advancing pipeline.
AI Summary
Vir Biotechnology, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported revenue from collaborations and contracts, with specific figures for the second quarter and year-to-date periods. Financial details indicate ongoing operations and potential for future revenue streams from its biotechnology programs.
Why It Matters
This filing provides insight into Vir Biotechnology's financial performance and revenue generation from its drug development programs, which is crucial for investors assessing the company's progress and valuation.
Risk Assessment
Risk Level: medium — Biotechnology companies often carry inherent risks due to the long and uncertain development cycles of drugs and reliance on regulatory approvals.
Key Numbers
- N/A — Total Revenue (Specific revenue figures for collaboration and contract revenue are detailed within the filing for Q2 2024 and year-to-date, but a consolidated total revenue is not explicitly stated in the provided header.)
- N/A — Net Income/Loss (The provided header does not contain specific net income or loss figures for the period.)
- N/A — Cash and Equivalents (Specific cash and equivalents balance is not detailed in the provided header.)
Key Players & Entities
- Vir Biotechnology, Inc. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period
- 20240801 (date) — Date the report was filed
FAQ
What were Vir Biotechnology's total revenues for the second quarter of 2024?
The filing indicates revenue from 'CollaborationRevenueMember' and 'ContractRevenueMember' for the period April 1, 2024, to June 30, 2024, but a consolidated total revenue figure is not explicitly stated in the header.
What is the company's primary business focus as indicated by its SIC code?
Vir Biotechnology, Inc. has a Standard Industrial Classification (SIC) code of 2836, which corresponds to 'BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)'.
When was this 10-Q report filed with the SEC?
This 10-Q report was filed on August 1, 2024.
What is the fiscal year-end for Vir Biotechnology?
Vir Biotechnology's fiscal year ends on December 31.
What are the key revenue streams mentioned in the filing header?
The filing header mentions revenue from 'CollaborationRevenueMember' and 'ContractRevenueMember'.
From the Filing
0001628280-24-034195.txt : 20240801 0001628280-24-034195.hdr.sgml : 20240801 20240801164321 ACCESSION NUMBER: 0001628280-24-034195 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 69 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240801 DATE AS OF CHANGE: 20240801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Vir Biotechnology, Inc. CENTRAL INDEX KEY: 0001706431 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 812730369 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-39083 FILM NUMBER: 241167439 BUSINESS ADDRESS: STREET 1: 1800 OWENS STREET STREET 2: SUITE 900 CITY: SAN FRANCISCO STATE: CA ZIP: 94158 BUSINESS PHONE: 415-906-4324 MAIL ADDRESS: STREET 1: 1800 OWENS STREET STREET 2: SUITE 900 CITY: SAN FRANCISCO STATE: CA ZIP: 94158 10-Q 1 vir-20240630.htm 10-Q vir-20240630 12/31 false 0001706431 2024 Q2 P3Y http://fasb.org/us-gaap/2024#AccruedLiabilitiesAndOtherLiabilities http://fasb.org/us-gaap/2024#AccruedLiabilitiesAndOtherLiabilities 354 111 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure vir:program vir:pathogen vir:position vir:director vir:employee vir:engager 0001706431 2024-01-01 2024-06-30 0001706431 2024-07-26 0001706431 2024-06-30 0001706431 2023-12-31 0001706431 vir:CollaborationRevenueMember 2024-04-01 2024-06-30 0001706431 vir:CollaborationRevenueMember 2023-04-01 2023-06-30 0001706431 vir:CollaborationRevenueMember 2024-01-01 2024-06-30 0001706431 vir:CollaborationRevenueMember 2023-01-01 2023-06-30 0001706431 vir:ContractRevenueMember 2024-04-01 2024-06-30 0001706431 vir:ContractRevenueMember 2023-04-01 2023-06-30 0001706431 vir:ContractRevenueMember 2024-01-01 2024-06-30 0001706431 vir:ContractRevenueMember 2023-01-01 2023-06-30 0001706431 us-gaap:GrantMember 2024-04-01 2024-06-30 0001706431 us-gaap:GrantMember 2023-04-01 2023-06-30 0001706431 us-gaap:GrantMember 2024-01-01 2024-06-30 0001706431 us-gaap:GrantMember 2023-01-01 2023-06-30 0001706431 2024-04-01 2024-06-30 0001706431 2023-04-01 2023-06-30 0001706431 2023-01-01 2023-06-30 0001706431 us-gaap:CommonStockMember 2024-03-31 0001706431 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001706431 us-gaap:RetainedEarningsMember 2024-03-31 0001706431 us-gaap:NoncontrollingInterestMember 2024-03-31 0001706431 2024-03-31 0001706431 us-gaap:CommonStockMember 2024-04-01 2024-06-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-01 2024-06-30 0001706431 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001706431 us-gaap:CommonStockMember 2024-06-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001706431 us-gaap:RetainedEarningsMember 2024-06-30 0001706431 us-gaap:NoncontrollingInterestMember 2024-06-30 0001706431 us-gaap:CommonStockMember 2023-03-31 0001706431 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001706431 us-gaap:RetainedEarningsMember 2023-03-31 0001706431 us-gaap:NoncontrollingInterestMember 2023-03-31 0001706431 2023-03-31 0001706431 us-gaap:CommonStockMember 2023-04-01 2023-06-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2023-04-01 2023-06-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-01 2023-06-30 0001706431 us-gaap:NoncontrollingInterestMember 2023-04-01 2023-06-30 0001706431 us-gaap:RetainedEarningsMember 2023-04-01 2023-06-30 0001706431 us-gaap:CommonStockMember 2023-06-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 0001706431 us-gaap:RetainedEarningsMember 2023-06-30 0001706431 us-gaap:NoncontrollingInterestMember 20