Boxer Capital Buys 1.24 Million Vir Biotechnology Shares
The buy underscores improving sentiment, with promising trial data plus a pending Astellas payment bolstering the case.
Overview
- Boxer Capital disclosed buying 1,241,000 additional Vir Biotechnology shares in a new SEC filing.
- The trade was estimated at $9.89 million using the average closing price from the first quarter.
- The purchase lifted Vir to 2.2% of Boxer’s reportable 13F assets and increased the fund’s position value by $12.95 million for the quarter.
- Vir reported Phase 2 hepatitis delta results showing 88% of certain patients kept the virus undetectable through Week 96 on its combination therapy.
- A collaboration with Astellas on VIR-5500 is set to bring $315 million in near-term funding as Vir reports more than $809 million in cash, leaving investors watching for durable revenue.