Recent Updates — VIR
The Board of Directors approved an increase in board size from eight to nine members and appointed Suzanne Topalian, M.D., as a Class III director effective October 27, 2026. Dr. Topalian will serve until the 2028 annual meeting and join the Science and Technology Committee. She receives standard non-employee director compensation including automatic equity grants. Vir Biotechnology is a biotechnology company focused on developing therapies for infectious diseases.
Vir Biotechnology entered a global strategic collaboration with Gilead Sciences to discover three novel PRO-XTEN dual-masked T-cell engagers targeting solid tumors. Concurrently, Gilead purchased 1,765,486 shares of Vir common stock at $14.16 per share for approximately $25 million. Under the agreement, Vir will receive a total upfront consideration of $90 million, including the equity investment and $65 million in cash, plus up to $45 million in near-term preclinical milestones. Vir is eligible for up to $1.74 billion in further development, regulatory, and commercial milestones, along with tiered royalties on net sales. Gilead holds an exclusive license to develop and commercialize the candidates. Vir Biotechnology is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for infectious diseases and cancer.
The U.S. Food and Drug Administration has granted Fast Track designation to VIR-5500, a PSMA-targeted PRO-XTEN dual-masked T-cell engager, for the treatment of late-line metastatic castration-resistant prostate cancer (mCRPC). The drug is being co-developed by Vir Biotechnology and Astellas Pharma Inc. through a global strategic collaboration. VIR-5500 is currently evaluated in an open-label Phase 1 study across six dose-expansion cohorts, with pivotal Phase 3 trials anticipated to begin in 2027. Fast Track designation is intended to facilitate and expedite the development and review of drugs treating serious conditions that fill unmet medical needs.
Vir Biotechnology is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for serious infectious diseases and cancer.
Vir Biotechnology appointed Aziz Sawaf as Executive Vice President and Chief Financial Officer effective October 5, 2026. Sawaf succeeds Brent Sabatini as principal financial officer while retaining his role as Senior Vice President and Chief Accounting Officer. Sawaf brings over 20 years of experience, previously serving as CFO at Theravance Biopharma since 2023 and holding roles at Gilead Sciences. His compensation includes a $520,000 annual base salary, a target bonus of 45%, a $150,000 one-time sign-on bonus, and equity awards comprising 150,000 stock options and 75,000 restricted stock units. Vir Biotechnology is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for serious infectious diseases and cancer.
Vir Biotechnology reported second quarter 2026 financial results on August 5, 2026. The company recognized $238.9 million in license and collaboration revenue, primarily from a $240.0 million upfront payment received from Astellas. Net income was $80.1 million, or $0.48 per share basic, compared to a net loss of $111.0 million in the prior year period. Cash, cash equivalents, and investments totaled approximately $1.01 billion at quarter-end. The company closed its global strategic collaboration with Astellas for VIR-5500 and initiated additional Phase 1 dose-expansion cohorts for this prostate cancer candidate. Topline data from the Phase 3 ECLIPSE 1 trial for chronic hepatitis delta is expected in Q4 2026, while ECLIPSE 2 and 3 data are expected in Q1 2027. Vir Biotechnology operates as a clinical-stage biopharmaceutical company focused on developing therapies for infectious diseases and cancer.
Jason O'Byrne, Executive Vice President and Chief Financial Officer, will step down from Vir Biotechnology, Inc. effective August 3, 2026, to pursue another opportunity. Brent Sabatini, current Senior Vice President and Chief Accounting Officer, has been appointed as interim principal financial officer effective August 3, 2026. Vir Biotechnology, Inc. is a biotechnology company focused on developing and commercializing infectious disease therapies.