Key Highlights

  • Net loss per share was USD 0.57 against an estimated USD 0.75 loss and USD 1.17 last year.
  • Total revenues were negative USD 0.188 million against an estimate of USD 0.98 million and USD 0.24 million last year.
  • Cash, cash equivalents and investments were approximately USD 901.3 million at September 30, 2026, with USD 8.8 million restricted.
  • Topline data from the pivotal ECLIPSE 1 hepatitis Delta trial is scheduled for the fourth quarter of 2026.

How does Vir Biotechnology, Inc. (NASDAQ:VIR) stand after a third quarter net loss of USD 0.57 per share? The clinical-stage company reported negative total revenues of USD 0.188 million, against an estimate of USD 0.98 million, and net loss of USD 96.3 million against USD 163.1 million a year earlier. Its cash, cash equivalents and investments were about USD 901.3 million, and its attention is on hepatitis delta data due within months.

Hepatitis Delta: ECLIPSE Timeline

The ECLIPSE registrational program is fully underway, with all three trials initiated. Management scheduled topline data from ECLIPSE 1 for the fourth quarter of 2026 and from ECLIPSE 2 and ECLIPSE 3 for the first quarter of 2027, and said all three datasets form part of a comprehensive global filing package. The program tests the combination of elebsiran and tobevibart.

Expanded Phase 2 SOLSTICE results are scheduled for oral presentations at the AASLD Liver Meeting on November 8, 2026.

Oncology and the Gilead Agreement

In oncology, three PRO-XTEN dual-masked T-cell engagers are in Phase 1. The FDA granted Fast Track Designation to the PSMA-targeted candidate for late-line metastatic castration-resistant prostate cancer. Management said the program has reached proof of concept and projects multiple pivotal trials beginning in 2027. For the HER2-targeted candidate, the company intends to add backfill cohorts in a more homogeneous patient population following FDA feedback, and dose escalation with pembrolizumab continues. The EGFR-targeted candidate continues enrollment alone and with pembrolizumab.

The company also signed a collaboration and license agreement with Gilead Sciences to discover and engineer three PRO-XTEN T-cell engager candidates. On October 9, 2026 it received USD 90 million in cash, made up of a USD 65 million upfront payment and a USD 25 million Equity investment. It is eligible for up to USD 45 million of near-term preclinical milestones and up to USD 1.74 billion of further development, regulatory and commercial milestones, plus tiered royalties.

Spending, Cash and Capital Position

Research and development expense was USD 80.0 million against USD 151.5 million, a year earlier that included a USD 75.0 million milestone payment tied to first-in-human dosing of the EGFR-targeted candidate. Selling, general and administrative expense was USD 24.4 million against USD 22.2 million. Interest income was USD 9.3 million.

For the nine months, total revenues were USD 238.7 million, mainly from USD 239.3 million of license and collaboration Revenue recognized on the Astellas upfront payment, and net loss was USD 141.9 million against USD 395.1 million. In February 2026 the company sold 20,294,117 shares at USD 8.50, with net proceeds of about USD 162.2 million. Accumulated Deficit stood at USD 1.3 billion, and management said existing cash and investments fund operations for at least 12 months from the date of the report.

Data Points to Watch

A quarterly net loss of USD 96.3 million sits alongside cash and investments of USD 901.3 million, Research and Development expense of USD 80.0 million and the USD 90 million received from Gilead in October.

Management named a short list of dated items: SOLSTICE presentations on November 8, 2026, ECLIPSE 1 topline data in the fourth quarter of 2026, ECLIPSE 2 and 3 topline data in the first quarter of 2027, and pivotal trials for the PSMA-targeted candidate beginning in 2027. It also appointed a new chief financial officer on October 5, a chief medical officer on October 7 and a new director on October 27, 2026.