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Visual21 Nov 2025
Data center suppliers
Invivyd (IVVD) investor relations material
Invivyd Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 net product revenue reached $13.1 million, up 41% year-over-year and 11% sequentially, driven by PEMGARDA sales after its EUA in March 2024.
Cash and cash equivalents were $85.0 million at quarter-end, rising to over $100 million by October 2025 after a $57.5 million public offering and $29.8 million from an ATM facility.
VYD2311, a next-generation COVID-19 antibody, advanced with FDA IND clearance and alignment for pivotal Phase 3 trials (DECLARATION and LIBERTY) to begin around year-end 2025, with top-line data expected mid-2026.
Developing antibody therapies for COVID, Long COVID, RSV, and measles, with a focus on rapid execution and broad market impact.
Net loss for Q3 2025 was $10.5 million, a significant improvement from $60.7 million in Q3 2024, reflecting lower R&D expenses.
Financial highlights
Q3 2025 PEMGARDA net product revenue was $13.1 million, compared to $9.3 million in Q3 2024 and $11.8 million in Q2 2025.
R&D expenses dropped to $8.0 million from $57.9 million year-over-year, mainly due to lower manufacturing and clinical trial costs.
SG&A expenses rose to $15.0 million from $13.0 million year-over-year, driven by higher personnel costs.
Gross margin for Q3 2025 was approximately 91.7%.
Net loss per share Q3 2025: $(0.06); weighted-average shares outstanding: 170.2M.
Outlook and guidance
Pivotal Phase 3 trials for VYD2311 (DECLARATION and LIBERTY) are set to initiate around year-end 2025, with top-line data expected mid-2026.
Expanding commercial team and infrastructure to support long-term growth and broader market reach for VYD2311.
Commercial launch quantities for VYD2311 are ready, with a goal to provide a vaccine alternative for COVID protection.
Pipeline expansion efforts initiated, targeting RSV and measles beyond SARS-CoV-2.
Substantial doubt exists about the ability to continue as a going concern beyond one year without additional funding.
Clarify CBER/CDER coordination for LIBERTY study
VYD2311 commercial team expansion strategy
RSV/Measles discovery program differentiation
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Frequently asked questions
Invivyd Inc., a clinical-stage biopharmaceutical company, is focused to the discovery, development, and commercialization of antibody-based solutions targeting infectious diseases, with a primary focus on the United States. The company's mission centers on delivering antibody-based therapies to protect vulnerable populations against circulating viral threats, such as SARS-CoV-2, leveraging advanced antibody engineering and viral surveillance techniques. Invivyd's lead product candidate, adintrevimab, is a neutralizing antibody undergoing clinical trials for both treatment and prevention of coronavirus disease. Additionally, the company is developing monoclonal antibody candidates, including VYD222 and VYD224, aimed at offering neutralizing protection against SARS-CoV-2, alongside discovery stage candidates for seasonal influenza prevention. The company is headquartered in Waltham, Massachusetts, and its shares are listed on the Nasdaq.
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