Vir Biotechnology Inc
VIRHealthcare|Biotechnology|USA
$9.96
-0.38 (-3.68%)
Tangible Book
$4.89
Earnings Power
$9427.04
Financials
Financial Snapshot
Market Cap
$1.68B
Enterprise Value
$380.7M
Revenue (TTM)
$64.7M
Net Income (TTM)
$-442.7M
Cash & Equivalents
—
Net Cash/Share
$1.63
Free Cash Flow (TTM)
$-449.6M
Operating CF (TTM)
$-446.1M
Debt/Equity
0.12
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$111.5M
Monthly Burn
$37.2M
Est. Runway
—
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $187.9M | $98.4M | $383.4M | $736.9M | $708.1M | $2.40B | $1.52B | $905.3M | $467.0M | $476.3M | |
| Operating Cash Flow | $-66.4M | $-94.1M | $-129.6M | $-190.9M | $-47.6M | $1.66B | $-778.8M | $-446.4M | $-391.8M | $-446.1M | |
| Free Cash Flow | $-69.1M | $-102.3M | $-138.6M | $-197.5M | $-69.4M | $1.60B | $-800.4M | $-453.7M | $-396.6M | $-449.6M | |
| Capital Expenditure | $-2.7M | $-8.2M | $-8.9M | $-6.5M | $-21.8M | $-68.0M | $-21.6M | $-7.3M | $-4.8M | $-3.6M | |
| Financing Cash Flow | $271.2M | $25.0M | $449.2M | $529.5M | $100.3M | $34.8M | $7.5M | $4.4M | $3.8M | $165.7M |
R&D Spending
R&D (TTM)
$446.2M
R&D Intensity
689.9%
R&D Growth YoY
-2.1%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $149.0K | $868.0K | $711.0K | $67.2M | $1.09B | $1.58B | $39.5M | $63.7M | $66.5M | $64.7M | |
| R&D Expense | $62.5M | $100.2M | $148.5M | $302.4M | $448.0M | $474.6M | $579.7M | $506.5M | $456.0M | $446.2M | |
| R&D % of Revenue | 41954.4% | 11547.1% | 20882.1% | 449.7% | 41.2% | 30.0% | 1467.9% | 795.0% | 685.5% | 689.9% | |
| SG&A | $21.7M | $29.1M | $37.6M | $70.9M | $160.8M | $161.8M | $174.4M | $119.0M | $92.1M | $91.5M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $149.0K | $868.0K | $711.0K | $67.2M | $1.09B | $1.58B | $39.5M | $63.7M | $66.5M | $64.7M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $65.9M | $146.3M | $2.8M | $845.0K | $26.0K | $26.0K | |
| Gross Profit | $149.0K | $868.0K | $711.0K | $67.2M | $1.02B | $1.43B | $36.7M | $62.9M | $66.5M | $64.7M | |
| R&D | $62.5M | $100.2M | $148.5M | $302.4M | $448.0M | $474.6M | $579.7M | $506.5M | $456.0M | $446.2M | |
| SG&A | $21.7M | $29.1M | $37.6M | $70.9M | $160.8M | $161.8M | $174.4M | $119.0M | $92.1M | $91.5M | |
| Operating Income | $-81.5M | $-118.7M | $-178.0M | $-297.0M | $420.8M | $833.1M | $-670.7M | $-552.2M | $-479.5M | $-472.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-80.8M | $-116.4M | $-174.5M | $-298.6M | $549.8M | $754.3M | $-628.2M | $-523.1M | $-437.8M | $-442.3M | |
| Net Income | $-69.9M | $-115.9M | $-174.7M | $-298.7M | $528.6M | $515.8M | $-615.1M | $-522.0M | $-438.0M | $-442.7M | |
| EPS (Diluted) | -0.72 | -1.20 | -5.76 | -2.51 | 3.96 | 3.83 | -4.59 | -3.83 | -3.16 | -3.13 | |
| EBITDA | $-81.1M | $-115.9M | $-173.5M | $-291.5M | $426.6M | $839.9M | $-651.3M | $-537.6M | $-467.8M | $-460.6M | |
| Shares Out. (M) | 96.91 | 96.91 | 30.35 | 119.16 | 133.44 | 134.81 | 134.13 | 136.25 | 138.52 | 147.36 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $187.9M | $47.6M | $109.3M | $436.6M | $347.8M | $848.6M | $241.6M | $222.9M | $232.2M | $274.2M | |
| Marketable Securities | $0.00 | $50.8M | $274.1M | $300.3M | $360.3M | $1.55B | $1.28B | $682.4M | $234.8M | $202.1M | |
| Total Current Assets | $192.3M | $117.8M | $403.0M | $772.4M | $1.56B | $2.52B | $1.59B | $1.04B | $514.1M | $523.0M | |
| Total Assets | $251.6M | $191.6M | $512.1M | $918.8M | $1.95B | $2.80B | $1.92B | $1.40B | $1.00B | $1.03B | |
| Total Current Liabilities | $12.4M | $39.9M | $59.2M | $99.1M | $341.2M | $511.0M | $175.4M | $119.7M | $92.8M | $73.6M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $320.5M | $370.8M | $88.1M | $201.9M | $522.4M | $724.1M | $328.8M | $248.4M | $237.5M | $212.8M | |
| Stockholders' Equity | $-68.9M | $-179.2M | $423.9M | $716.9M | $1.43B | $2.08B | $1.59B | $1.15B | $765.3M | $812.8M | |
| Retained Earnings | $-78.0M | $-193.8M | $-368.5M | $-667.2M | $-138.6M | $377.2M | $-237.8M | $-759.8M | $-1.20B | $-1.32B |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-66.4M | $-94.1M | $-129.6M | $-190.9M | $-47.6M | $1.66B | $-778.8M | $-446.4M | $-391.8M | $-446.1M | |
| Capital Expenditure | $-2.7M | $-8.2M | $-8.9M | $-6.5M | $-21.8M | $-68.0M | $-21.6M | $-7.3M | $-4.8M | $-3.6M | |
| Free Cash Flow | $-69.1M | $-102.3M | $-138.6M | $-197.5M | $-69.4M | $1.60B | $-800.4M | $-453.7M | $-396.6M | $-449.6M | |
| Investing Cash Flow | $-30.0M | $-60.4M | $-256.2M | $-9.9M | $-140.8M | $-1.19B | $164.6M | $499.4M | $310.4M | $195.4M | |
| Financing Cash Flow | $271.2M | $25.0M | $449.2M | $529.5M | $100.3M | $34.8M | $7.5M | $4.4M | $3.8M | $165.7M | |
| Issuance of Stock | $0.00 | $0.00 | $126.4M | $529.9M | $85.2M | $28.5M | $0.00 | $0.00 | $0.00 | $162.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $-3.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $4.5M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $-95.0K | $-250.0K | $-259.0K | $-260.0K | $-287.0K | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $4.8M | $5.1M | $8.7M | $27.6M | $83.8M | $102.1M | $111.3M | $78.5M | $49.1M | $47.1M | |
| Net Change in Cash | $174.8M | $-129.6M | $63.5M | $328.7M | $-88.1M | $504.6M | $-606.7M | $57.4M | $-77.6M | $-85.0M |
Dilution Tracker
Shares Outstanding
147M
5-Year Share Growth
+10.4%
Stock Issuance (TTM)
$162.3M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 96.91 | 96.91 | 30.35 | 119.16 | 133.44 | 134.81 | 134.13 | 136.25 | 138.52 | 147.36 | |
| YoY Change % | — | 0.0% | -68.7% | 292.6% | 12.0% | 1.0% | -0.5% | 1.6% | 1.7% | 6.4% | |
| Stock Issuance | $0.00 | $0.00 | $126.4M | $529.9M | $85.2M | $28.5M | $0.00 | $0.00 | $0.00 | $162.3M | |
| Stock Repurchase | $0.00 | $0.00 | $-3.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $4.8M | $5.1M | $8.7M | $27.6M | $83.8M | $102.1M | $111.3M | $78.5M | $49.1M | $47.1M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 93.9% | 90.7% | 93.0% | 98.7% | 100.0% | 100.0% | |
| Operating Margin % | -54696.0% | -13674.2% | -25032.2% | -441.6% | 38.7% | 52.7% | -1698.3% | -866.7% | -720.9% | -730.1% | |
| Net Margin % | -46880.5% | -13350.7% | -24568.6% | -444.1% | 48.6% | 32.6% | -1557.4% | -819.2% | -658.4% | -684.4% | |
| EBITDA Margin % | -54406.0% | -13356.7% | -24396.9% | -433.5% | 39.2% | 53.1% | -1649.1% | -843.8% | -703.3% | -712.1% | |
| FCF Margin % | -46391.3% | -11784.3% | -19489.7% | -293.7% | -6.4% | 100.9% | -2026.5% | -712.0% | -596.2% | -695.1% | |
| ROE % | 0.0% | 0.0% | -142.7% | -52.4% | 49.2% | 29.4% | -33.5% | -38.1% | -45.7% | -50.7% | |
| ROA % | -27.8% | -52.3% | -49.6% | -41.7% | 36.8% | 21.7% | -26.1% | -31.5% | -36.5% | -39.9% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / 3.23 / 10.79
Industry Med.27.51
P/S21.42
Historical1.09 / 24.99 / 7750.00
Industry Med.9.49
P/B1.98
Historical0.60 / 1.66 / 13.61
Industry Med.2.93
EV/EBITDA-2.82
Historical-31.17 / -0.78 / 11.79
Industry Med.13.02
EV/Revenue20.08
Historical-10.19 / 8.22 / 6501.38
Industry Med.8.59
P/FCF—
Historical1.64 / 2.58 / 6.47
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$4.89
Net Current Assets
$1.920
Net-Net Working Capital
$1.63
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | 10.57 | 6.61 | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 0.00 | 546.74 | 47.48 | 5.14 | 2.16 | 34.22 | 15.68 | 12.56 | 21.42 | |
| PB Ratio | 0.00 | 0.00 | 3.19 | 4.76 | 3.84 | 1.62 | 0.85 | 0.87 | 1.10 | 1.98 | |
| EV/EBITDA | 0.00 | 0.00 | -5.59 | -9.42 | 11.54 | 1.31 | 0.06 | -0.37 | -1.01 | -2.82 | |
| EV/Revenue | 0.00 | 0.00 | 1364.96 | 40.83 | 4.53 | 0.69 | -1.06 | 3.10 | 7.09 | 20.08 |
Analyst Estimates & Quality
Altman Z-Score
2.09
Grey Zone
Piotroski F-Score
3
Weak
Beneish M-Score
1.23
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $246.45M | $105.79M | $161.23M |
| Net Income | $-325.28M | $-386.09M | $-324.93M |
| EPS | -2.16 | -2.43 | -1.92 |
| Book Value per Share | 4.39 | 4.01 | 3.52 |
| Operating Cash Flow per Share | -1.30 | -0.08 | 0.00 |
| Operating CF | $-191.56M | $-11.79M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Business of powering the immune system to transform lives by discovering and developing medicines | $68.6M |
By Geography
| Segment | 2025 |
|---|---|
| Norgine | $64.3M |
| GlaxoSmithKline Biologicals S.A. (GSK) | $-1.1M |
| Other | $3.4M |
| United States (US) Customers | $2.0M |