Overview
- Vir secures $240 million in cash, a $75 million equity investment at a 50% premium, and a near-term $20 million milestone, with up to $1.37 billion in potential milestones plus tiered ex‑U.S. royalties.
- Astellas will lead U.S. commercialization with a 50–50 U.S. profit/loss split if Vir opts to co‑promote, hold exclusive rights outside the U.S., and assume later-stage development after an initial Phase 1 handoff; global development costs will be shared 60% Astellas and 40% Vir.
- Updated Phase 1 results in heavily pretreated metastatic castration‑resistant prostate cancer reported 82% PSA50 and 53% PSA90 rates at the highest doses, with a 45% objective response rate among evaluable patients and confirmed tumor shrinkage on PSMA‑PET.
- Vir plans monotherapy dose‑expansion cohorts in Q2 2026 and is targeting pivotal trials in 2027, with the data set to be presented at the ASCO Genitourinary Cancers Symposium on February 26; deal closing remains subject to HSR clearance and certain proceeds will be shared with Sanofi under a licensing agreement.
- VIR shares jumped about 60% in premarket trading to $11.85 as Q4 results topped estimates ($0.31 loss vs. $0.41 expected; $64.07 million revenue vs. $23.18 million forecast) and Evercore ISI raised its price target to $18 with an Outperform rating.