Vir Biotechnology, Inc. Q3 FY2025 earnings call

Marianne De Backer highlighted key accomplishments: completed enrollment in ECLIPSE 1 (first registrational Phase III study for hepatitis delta), plans to share VIR-5500 data update in Q1 2026, and dosed first patient in first-line metastatic castration-resistant prostate cancer combination study. Mark Eisner provided details on clinical development: ECLIPSE 1 enrollment completed ~2 months ahead of schedule, ECLIPSE 2 enrollment progressing in Europe, ECLIPSE 3 Phase IIb head-to-head vs bulevirtide ahead of schedule, SOLSTICE data to be presented at AASLD in Nov 2025, VIR-5500 dose escalation ongoing, VIR-5818 and VIR-5525 continuing dose escalation. Cash position: ~$810.7M in cash, cash equivalents, and investments, cash runway to mid-2027.

Plan to share comprehensive data update for VIR-5500 in Q1 2026; ECLIPSE 1 primary completion expected Q4 2026, top line data for all 3 ECLIPSE studies expected Q1 2027; SOLSTICE data presented at AASLD in Nov 2025.

Q: For PSMA, how to show differentiation; for HDV, clinical bar as key differentiation A: Marianne De Backer and Mark Eisner respond. Marianne mentions excitement for VIR-5500 data update in Q1 2026; Mark notes PRO-XTEN platform's dual-masking unique approach and HDV program's exceptional virologic outcomes potential Q: Timing of VIR-5500 data; focus of AASLD presentation A: Mark Eisner states VIR-5500 update timing to be announced later, AASLD presentation will show complete 48-week data for tobevibart and elebsiran arms Q: Clarity on VIR-5500 update timing; impact of Gilead's bulevirtide filing on HDV A: Marianne says VIR-5500 update timing not specified yet, Mark says Gilead launching bulevirtide will drive disease awareness and prepare landscape for Vir Bio's HDV program Q: Surprise on not reaching MTD for VIR-5500; Grade 3 CRS A: Mark Eisner says dose escalation is systematic, details on safety to be shared in Q1 2026 update Q: Meaningfulness of 48-week HDV data; change from week 36 to 48 A: Mark Eisner says 48-week data will be meaningful for physician education, expects deepening of responses over time Q: Prioritization of TCE programs; no-go/go decision A: Marianne De Backer says capital allocation prioritizes hepatitis delta registrational study and VIR-5500 prostate cancer program, other TCE programs gated by data with potential business development opportunities Q: Optimal setting for TCE program in prostate cancer; proof-of-concept post PSMA radioligand A: Mark Eisner says update will include third-line plus mCRPC setting, data-driven decision on patient population positioning Q: Resonance of HDV combo reducing HBsAg with KOLs; importance vs ALT A: Mark Eisner says reducing HBsAg is important as it starves delta virus of surface antigen, contributing to virologic suppression Q: Addressable HDV patients in US; efforts to identify patients A: Mark Eisner says ~60,000 viremic HDV patients in US, broad population eligible, Gilead's launch will drive disease awareness and testing