Vir Biotechnology Q2 revenue up, beats estimates on Astellas payment

Vir Biotechnology

05/08/2026 21:20

Overview
U.S. biopharma's Q2 revenue rose sharply, beating analyst expectations
Q2 net income was $80.1 mln, reversing a net loss last year
Revenue growth driven by Astellas collaboration payment

Outlook
Vir expects topline data from Phase 3 ECLIPSE 1 trial in Q4 2026
Company anticipates initiating pivotal Phase 3 trials for VIR-5500 in 2027
Vir expects its cash and investments to fund operations into the second half of 2028

Result Drivers
ASTELLAS UPFRONT PAYMENT - Q2 revenue was primarily driven by a $240 mln upfront payment from Astellas collaboration
HIGHER R&D COSTS - R&D expenses increased due to a $48 mln milestone payment to Sanofi and higher CHD manufacturing costs
ONE-TIME SG&A FEES - SG&A expenses rose due to advisory and legal fees related to the Astellas agreement

Company press release: ID:nBw8FjhcPa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$238.90 mln
$216.46 mln (5 Analysts)
Q2 Basic EPS
 
$0.48
 
Q2 Net Income
 
$80.10 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Vir Biotechnology, Inc. is $21.00, about 129% above its August 4 closing price of $9.17

Reuters Recommended Reads
Aug 5 - Kymera Therapeutics Q2 collaboration revenue more than doubles, beats estimates
Aug 4 - Amgen second-quarter sales rise 9%, profit tops Street view
Aug 4 - Gilead second-quarter sales rise 8%, beating Wall Street estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)