VIR Stock — Vir Biotechnology Inc.: Cash, EV, Pipeline

What they do

We are focused on developing therapies that enhance the immune system’s ability to overcome these evasion tactics, effectively powering the immune system to combat viruses and fight cancer. We believe our unified approach of leveraging our deep understanding of immunology to address seemingly disparate threats distinguishes us in the field.

Source: 10-K FY2025 via SEC EDGAR

Share price

$12.21

Market cap

$2,091.2M

Cash

$454.6M

Enterprise value

$1,636.6M

Balance sheet

Cash	$454.6M
Debt	$0.0M
Net cash	$454.6M
Enterprise value	$1,636.6M
Basic shares	171.3M shares
Fully diluted shares	174.9M shares
Fully diluted market cap	$2,135.6M
Cash per share	$2.65
Quarterly burn	+$123.3M generated

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

169.2M

Pre-funded warrants

0.0M

Options

—

RSUs

5.7M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

174.9M

Cap table as of 2026-07-29.

Price history

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Next catalyst

elebsiran plus tobevibart · Est. Nov 15, 2026 · quarter midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	elebsiran plus tobevibart Phase 3 ECLIPSE 1 trial of elebsiran plus tobevibart in chronic hepatitis delta	Phase 3	chronic hepatitis delta	Q4 2026
Dec 13, 2026 - Jan 24, 2027 in 5 wks	Tobevibart	Phase 2	Viral Hepatitis	—
Jan 12 - Feb 23 in 9 wks	Tobevibart	Phase 3	Viral Hepatitis	Q1 2027 Est. Feb 14, 2027 · quarter midpoint Q1 2027 Est. Feb 14, 2027 · quarter midpoint
Feb 11 - Mar 25 in 14 wks	Tobevibart	Phase 3	Viral Hepatitis	Q1 2027 Est. Feb 11, 2027 · PCD + 6 wks (Jan 28-Feb 25) Q1 2027 Est. Feb 11, 2027 · PCD + 6 wks (Jan 28-Feb 25)
May 13 - Jun 24 in 18 mo	VIR-5818	Phase 1/2	Locally Advanced or Metastatic HER2-Expressing Cancers	—
Sep 12 - Oct 24 in 35 mo	VIR-5525	Phase 1	Solid Tumor Malignancies; EGFR Positive Solid Tumors; EGFR	—
Dec 13, 2031 - Jan 24, 2032 in 62 mo	VIR-2218	Phase 2	Hepatitis D, Chronic	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

elebsiran/tobevibart

Phase 3 · Active Modality: siRNA (elebsiran) plus monoclonal antibody (tobevibart) combination

Target Hepatitis B/D virus

Partnerships Norgine (exclusive license for commercial and certain development rights in Europe, Australia and New Zealand; contributes ~25% of ECLIPSE external costs from January 1, 2026); Alnylam (worldwide license to siRNA directed to HBV/HDV, including elebsiran)

Indications

Chronic hepatitis delta (Phase 3)

Status note Investigational elebsiran/tobevibart combination being evaluated in the ECLIPSE registrational program (ECLIPSE 1, 2 and 3) for chronic hepatitis delta; Vir Bio retains commercial rights in the U.S. and all other markets outside the Norgine Territory and China/Taiwan.

VIR-5500

Phase 1 · Active Modality: dual-masked CD3 T-cell engager (PRO-XTEN)

Target PSMA

Partnerships Astellas (global strategic collaboration to co-develop and co-commercialize; closed April 15, 2026 with $240.0 million upfront); Sanofi (exclusive worldwide PRO-XTEN masking license)

Indications

Prostate cancer (Phase 1)

Status note PRO-XTEN dual-masked CD3 TCE in Phase 1 development; global clinical development costs shared 40% Vir Bio / 60% Astellas, U.S. profits and losses shared equally.

VIR-5525

Phase 1 · Active Modality: dual-masked T-cell engager (PRO-XTEN)

Target EGFR

Partnerships Sanofi (in-licensed dual-masked TCE; exclusive worldwide PRO-XTEN masking license)

Indications

Oncology (solid tumors) (Phase 1)

Status note First patient dosed in a Phase 1 study in July 2025; in-licensed from Sanofi/Amunix with the PRO-XTEN masking platform.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Tobevibart
Lead indication	Viral Hepatitis
Lead phase	Phase 3
Active trials	6

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07128550	Phase 3	Active, not recruiting	Sponsor	Vir Biotechnology, Inc.	—	Viral Hepatitis	Q4 2026 Est. Nov 15, 2026 · quarter midpoint Q1 2027 Est. Feb 14, 2027 · quarter midpoint
NCT06903338	Phase 3	Active, not recruiting	Sponsor	Vir Biotechnology, Inc.	—	Viral Hepatitis	Q4 2026 Est. Dec 31, 2026 · PCD + 6 wks (Dec 31-Dec 31) Q1 2027 Est. Feb 11, 2027 · PCD + 6 wks (Jan 28-Feb 25)
NCT07142811	Phase 2	Active, not recruiting	Sponsor	Vir Biotechnology, Inc.	—	Viral Hepatitis	—
NCT05461170	Phase 2	Active, not recruiting	Sponsor	Vir Biotechnology, Inc.	—	Hepatitis D, Chronic	—
NCT05356741	Phase 1/2	Recruiting	Sponsor	Vir Biotechnology, Inc.	MRK	Locally Advanced or Metastatic HER2-Expressing Cancers	—
NCT06960395	Phase 1	Recruiting	Sponsor	Vir Biotechnology, Inc.	—	Solid Tumor Malignancies; EGFR Positive Solid Tumors; EGFR	—

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 6 active trials for Vir Biotechnology, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	2,456,677	-288,037	1.18%	2026-08-14
Boxer Capital	1,866,000	no change	1.43%	2026-08-14
Ikarian Capital	0	-293,258	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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VIR — Vir Biotechnology Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

VIR — Vir Biotechnology Inc.