Vir Biotechnology, Inc. (NASDAQ:VIR) Q3 2023 Earnings Call Transcript

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Vir Biotechnology, Inc. (NASDAQ:VIR) Q3 2023 Earnings Call Transcript November 2, 2023

Vir Biotechnology, Inc. misses on earnings expectations. Reported EPS is $-1.22 EPS, expectations were $-1.21.

Operator: Hello, and welcome to Vir Biotechnology's Third Quarter 2023 Financial Results and Business Update Call. As a reminder, this conference call is being recorded. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. I will now turn the call over to Sasha Damouni Ellis, Executive Vice President, Chief Corporate Affairs Officer. You may begin Ms. Damouni Ellis.

Sasha Damouni Ellis: Thank you, and good afternoon. With me today are Marianne De Backer, Chief Executive Officer; Dr. Phil Pang, Chief Medical Officer; and Sung Lee, Chief Financial Officer. Before we begin, I would like to remind everyone that some of the statements we are making today are forward-looking statements under the securities laws. These forward-looking statements involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. These risks and uncertainties and risks associated with our business are described in the company's reports filed with the Securities and Exchange Commission, including Form 10-K, 10-Q and 8-K. I will now turn the call over to our CEO, Marianne De Backer.

Marianne De Backer: Thank you, Sasha. Good afternoon, and welcome. I'm Marianne De Backer, CEO of Vir, and I am pleased to welcome you all here today. Since the last time we spoke, Vir has made some impressive progress on driving our scientific platforms, our pipeline and our clinical trials forward. All this positive momsentum is encouraging as we seek to serve all the patients who are waiting, especially those with unmet medical needs in multiple infectious disease areas and beyond. Let me first call your attention to the updates we are most looking forward to at AASLD The Liver Meeting in Boston later this month. Our Phase 2 data readouts from two of our most advanced programs chronic hepatitis B and chronic hepatitis delta.

As a reminder, this includes initial data from Part B of the MARCH trial where we are looking at combinations of our monoclonal antibody, VIR-3434 and our siRNA VIR-2218 for 24 and 48 weeks with and without peg interferon alfa. We also look forward to sharing initial data from our ongoing SOLSTICE trial, which is evaluating whether our antibody VIR-3434 alone, our siRNA VIR-2218 alone, or the combination of these can be a viable chronic therapy for patients who are co-infected with hepatitis delta virus. Thanks to the approximately $50 million in new BARDA funding, we have had positive momentum on the development of VIR-7229, our investigational next generation COVID-19 monoclonal antibody with a distinct combination of potency, breadth, and viral ines capability.