Vir Biotechnology, Inc. (VIR), a clinical-stage biopharmaceutical company, Thursday announced the pricing of 17.65 million shares at a price of $8.50 per share. The gross proceeds are expected to be $150 million.
Following the announcement, VIR is down 13.30% at $8.67.
Vir Biotechnology has granted the underwriters a 30-day option to purchase up to an additional 2.65 million shares of its common stock at the public offering price, less underwriting discounts and commissions.
The offering is expected to close on February 27, 2026.
Goldman Sachs & Co. LLC, Leerink Partners, Evercore ISI and Barclays are acting as book-running managers for the offering.
The company's preclinical candidates include those targeting influenza A and B antibodies and antibody drug conjugates, and coronavirus monoclonal antibodies; and PRO-XTEN, a dual-masked TCEs targeting a variety of solid tumours.
Pipeline and Near Term Milestones
Vir Biotechnology's clinical-stage portfolio includes programs for chronic hepatitis delta and multiple PRO-XTEN dual-masked T-cell engagers across validated targets in solid tumour indications.
The firm's Tobevibart + Elebsiran combination for Hepatitis Delta is evaluated under Phase 3 ECLIPSE trials, and topline data is expected between Q4 2026 and Q1 2027.
And for VIR-5818, a HER2-targeted PRO-XTEN dual-masked TCE, in combination with pembrolizumab, response data is expected in the second half of 2026.
Earlier this week, the firm announced a global strategic collaboration with Astellas Pharma for its PSMA-targeting T-cell engager, VIR-5500, for metastatic castration-resistant prostate cancer (mCRPC) and released updated Phase 1 clinical data showing encouraging results.
For VIR -5500, Vir biotech anticipates initiating monotherapy dose-expansion cohorts in late-line mCRPC and combination dose-expansion cohorts in both early-line mCRPC and metastatic hormone-sensitive prostate cancer (mHSPC) in the second quarter of 2026, followed by pivotal Phase 3 trials in 2027.
The firm ended 2025 with $781.6 million in cash, cash equivalents and investments. The company expects its cash, cash equivalents and investments to fund operations into the second quarter of 2028.
VIT has traded between $4.16 and $10.94 in the last one year. The stock closed Wednesday's trade at $10, up 5.37%.
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