Vir Biotechnology’s cash, cash equivalents, and investments increased to approximately $1.01 billion during the second quarter of 2026 following the closing of its global strategic collaboration with Astellas, extending the biotechnology company’s expected operating runway into the second half of 2028.
Vir’s cash position increased approximately $198.5 million during Q2. The company received a $240 million upfront payment and a $75 million equity investment from Astellas and made a $48 million pass-through payment to Sanofi associated with the transaction.
The collaboration centers on VIR-5500, Vir’s PSMA-targeted PRO-XTEN dual-masked T-cell engager for prostate cancer. Vir and Astellas have established the operational infrastructure for the collaboration and expanded the ongoing Phase 1 study into additional monotherapy and combination cohorts.
The first patients have been dosed in three VIR-5500 monotherapy expansion cohorts across different metastatic castration-resistant prostate cancer populations and in a combination cohort evaluating the candidate with enzalutamide. Additional planned cohorts include combinations with docetaxel and darolutamide. Vir expects potential pivotal Phase 3 trials to begin in 2027.
The Astellas deal also had a major impact on Vir’s reported Q2 financial results. Revenue reached $238.9 million, primarily reflecting license and collaboration revenue recognized from the $240 million upfront payment. Vir reported net income of $80.1 million compared with a $111 million net loss a year earlier.
Research and development expenses increased to $135.3 million from $97.5 million, partly due to a $48 million milestone payment to Sanofi triggered by the Astellas transaction and higher manufacturing costs as Vir prepares its chronic hepatitis delta program for potential commercialization.
Vir is simultaneously approaching important milestones in chronic hepatitis delta. Its entire three-trial ECLIPSE Phase 3 registrational program is now fully enrolled, with ECLIPSE 1 topline data expected in Q4 2026 and ECLIPSE 2 and 3 data expected in Q1 2027.
Phase 2 SOLSTICE data showed that 88% of participants receiving elebsiran plus tobevibart achieved undetectable HDV RNA at Week 96 in the intent-to-treat analysis, compared with 53% receiving antibody monotherapy.
KEY QUOTES:
“This is a pivotal time for the CHD community, when availability of new therapies could improve awareness, testing and access to care. Our Week 96 SOLSTICE results demonstrate the potential of our dual-acting elebsiran and tobevibart combination regimen to rapidly achieve undetectable virus in most patients and raise the bar for treatment of this devastating condition.”
“Beyond CHD, we remain focused on rapid execution of our joint clinical program with Astellas in prostate cancer and have initiated monotherapy and combination therapy dose-expansion cohorts in our VIR-5500 Phase 1 study that will help inform pivotal trial design.”
Marianne De Backer, Chief Executive Officer Of Vir Biotechnology
