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Vir Biotechnology

VIR Rare disease Lead: Phase 3 9 Biotech Distilled articles ↓ 49 filings & releases ↓ Cash $219M (Sep 30, 2026) ↓ 9 verdicts ↓ 5 timing quotes ↓
Infectious DiseaseOncology Protein

Market cap $2.09B 171.3M shares (10-Q, Oct 28, 2026) × $12.21 close Nov 6, 2026

Most recent annual filing: 2026-02-15

Catalyst timeline

5 trackedQuarter catalyst calendar →
  1. VIR-5818 Ph1 readout2H 2026VIR-5818 Ph1 readout, 2H 2026, notable
  2. ECLIPSE 1 Ph3 toplineNov 8, 2026ECLIPSE 1 Ph3 topline, Nov 8, 2026, thesis-defining
  3. ECLIPSE 2 & 3 Ph31Q 2027ECLIPSE 2 & 3 Ph3, 1Q 2027, thesis-defining
  4. ECLIPSE 2 and 3 topline1Q 2027ECLIPSE 2 and 3 topline, 1Q 2027, material
  5. PRO-XTEN TCE preclinical programs corporateearly 2027PRO-XTEN TCE preclinical programs corporate, early 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (12 active programs)

Technology platforms

dAIsY

Proprietary AI and machine learning-driven antibody optimization platform for engineering therapeutic candidates including TCEs and mAbs for infectious diseases and oncology. Used to optimize potency, resistance, pharmacokinetics, and manufacturability.

PRO-XTEN · Sanofi

Dual-masked T-cell engager platform using XTEN masking technology to keep TCEs inactive until reaching the tumor microenvironment, reducing off-target effects; focus on solid tumor indications including prostate cancer; licensed from Amunix Pharmaceuticals (a Sanofi company), with Vir retaining exclusive oncology and infectious disease rights

Targets: CD3, PSMA, HER2, EGFR

PRO-XTEN · Amunix Pharmaceuticals (a Sanofi company)

Universal dual-masking technology for T-cell engagers; designed to keep TCEs inactive until reaching the tumor microenvironment where tumor-specific proteases cleave the mask; focus areas: oncology solid tumors including prostate, HER2-expressing, and EGFR-expressing cancers; also licensed for infectious disease

Targets: PSMA, HER2, EGFR, CD3

PRO-XTEN · Amunix Pharmaceuticals (Sanofi)

Universal dual-masking technology for T-cell engagers (TCEs) that keeps TCEs inactive until tumor-specific proteases in the tumor microenvironment cleave the mask, activating anti-tumor killing; extends half-life and reduces systemic toxicity; applied across solid tumor indications targeting PSMA, HER2, and EGFR, as well as preclinical candidates in lung, colorectal, and bladder cancer; Vir Biotechnology holds exclusive rights for oncology and infectious disease

Targets: PSMA, CD3, HER2, EGFR

PRO-XTEN · Amunix Pharmaceuticals

Universal dual-masking technology for T-cell engagers (TCEs) that keeps TCEs inactive until reaching the tumor microenvironment, where tumor-specific proteases cleave the mask and activate the TCEs; applied across oncology solid tumor indications including prostate, HER2-positive, and EGFR-expressing tumors; licensed from Amunix Pharmaceuticals (a Sanofi company) with Vir holding exclusive rights for oncology and infectious disease

Targets: PSMA, HER2, EGFR, CD3

PRO-XTEN · Sanofi (via Amunix Pharmaceuticals)

Dual-masking platform technology that keeps T-cell engagers inactive until reaching the tumor microenvironment, reducing off-target effects and improving therapeutic index; focus on solid tumor indications and infectious diseases

PRO-XTEN · Amunix Pharmaceuticals, Inc. (a Sanofi company)

Universal dual-masking technology for T-cell engagers designed to extend half-life and keep TCEs inactive until reaching the tumor microenvironment, where tumor-specific proteases cleave the mask to activate anti-tumor activity; applied across solid tumor oncology and infectious disease indications.

Targets: PSMA, CD3

PRO-XTEN · Gilead Sciences

Universal masking technology for T-cell engagers (TCEs) — extends half-life and keeps TCEs inactive until reaching the tumor microenvironment, where tumor-specific proteases cleave the mask and activate anti-tumor activity; focus area: solid tumors and oncology broadly. Vir holds exclusive rights for oncology and infectious disease; technology owned by Amunix Pharmaceuticals (a Sanofi company).

PRO-XTEN · Gilead

Universal dual-masking T-cell engager platform; extends half-life and keeps TCEs inactive until tumor microenvironment proteases cleave the mask; focus areas: solid tumors and infectious disease oncology

Discontinued (1)

Capital (as filed)

Cash
$219M cash and cash equivalents · Sep 30, 2026 (10-Q)
Short-term investments
$236M Sep 30, 2026
Long-term investments
$443M Sep 30, 2026
Operating cash flow
−$106M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$901M cash, runway 2H 2028 per the update of Nov 4, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (9)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (9 calls)

Every verdict Biotech Distilled has published on Vir Biotechnology, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-03-25 Buy core Vir Biotechnology (VIR) - Scientific Deep Dive for Lead and Pipeline Products Fortified cash position, validated Phase 2 CHD data (88% undetectable HDV RNA at Week 96), and a partnered oncology platform with PRO-XTEN masking technology create asymmetric upside.
  2. 2026-04-27 Buy core UPDATE: Vir Biotechnology (VIR) - The Astellas Money Lands, the CMO Walks Astellas deal closed and balance sheet fortified, but CMO departure six months before ECLIPSE 1 topline warrants waiting for the May 6 earnings call before adding aggressively.
  3. 2026-05-07 Buy core UPDATE: Vir Biotechnology (VIR) - The Clean Call (With a $172.5M Footnote) ECLIPSE 1 Q4 2026 timeline explicitly reaffirmed, CMO transition risk retired, and pro-forma cash ~$1.1B; the wait-for-the-call condition is satisfied and the risk/reward into ECLIPSE 1 remains asymmetric to the upside.
  4. 2026-07-24 Buy core UPDATE: Vir Biotechnology (VIR) - The CFO Walks, Too Two C-suite departures in three months ahead of ECLIPSE 1 widen the yellow flag; existing holders should hold and watch while new entrants should scale in rather than commit all at once.
  5. 2026-08-06 Buy core UPDATE: Vir Biotechnology (VIR) - Fully Enrolled, and the Competition Just Got Real Full ECLIPSE enrollment retires operational risk and the balance sheet is fortress-level, but a U.S. CHD approval raises the commercial bar and scaling in ahead of a binary readout remains the more defensible posture.
  6. 2026-10-01 Buy core UPDATE: Vir Biotechnology (VIR) - The CFO Chair Gets Filled Permanent outside CFO hired before ECLIPSE 1 closes the turnover loop, but the stock has run ~24% since August and scaling in ahead of a binary readout remains more defensible than committing all at once.
  7. 2026-10-08 Buy core UPDATE: Vir Biotechnology (VIR) - The CMO Chair Gets Filled, Too Both C-suite vacancies filled with outside hires before ECLIPSE 1, fully resolving the turnover pattern, but ECLIPSE 1 remains a binary event and scaling in is still more defensible than committing all at once.
  8. 2026-10-15 Buy core UPDATE: Vir Biotechnology (VIR) - Gilead Buys a Ticket to the Trojan Horse Gilead's $90M upfront at a 30% equity premium provides a second big-pharma validation of the PRO-XTEN platform, but ECLIPSE 1 remains a binary event and scaling in is still more defensible than committing all at once.
  9. 2026-11-05 Buy core UPDATE: Vir Biotechnology (VIR) - The Platform Test Slips a Quarter ECLIPSE 1 remains on track for Q4 2026 and VIR-5500 earned Fast Track designation, but the HER2 platform-generalization test lost its 2H 2026 date after FDA dose-optimization feedback, leaving the oncology case resting on one target for longer.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (5 quotes from 3 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (49)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 18, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

7 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)