Invivyd, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated $11.8 million in product revenue for the three months ended June 30, 2025, a substantial increase from $2.3 million in the same period last year. For the first half of 2025, total revenue reached $23.1 million, compared to just $2.3 million in the first half of 2024. This growth is attributed to the commercialization of PEMGARDA, a monoclonal antibody authorized for emergency use by the FDA for COVID-19 prevention.
Despite the increase in revenue, Invivyd reported a net loss of $14.7 million for the second quarter of 2025, a notable improvement from a net loss of $47.2 million in the same quarter of 2024. For the first half of 2025, the net loss was $30.9 million, down from $90.7 million in the prior year. The reduction in losses is primarily due to decreased operating costs, which fell to $26.8 million in Q2 2025 from $51.5 million in Q2 2024, driven by lower research and development expenses.
Operationally, Invivyd has made strides in its clinical development pipeline. The company has advanced its next-generation monoclonal antibody candidate, VYD2311, which is currently undergoing a Phase 1/2 clinical trial. In June 2025, Invivyd announced positive clinical data for VYD2311, and in August, it received guidance from the FDA on a potential expedited pathway for a Biologics License Application (BLA). The company also formed the SPEAR Study Group to explore the effects of its antibodies on Long COVID and Post-Vaccination Syndrome.
As of June 30, 2025, Invivyd's cash and cash equivalents stood at $34.9 million, a decrease from $69.3 million at the end of 2024. The company has expressed substantial doubt about its ability to continue as a going concern, indicating that it will require additional funding to support its operations beyond the next year. This funding may come from product sales, equity offerings, or collaborations. The company has also entered into a loan agreement with Silicon Valley Bank, providing access to up to $30 million, contingent on meeting certain revenue milestones.
Looking ahead, Invivyd aims to continue its focus on the commercialization of PEMGARDA while advancing its clinical programs, including VYD2311. The company is also exploring opportunities to expand its product pipeline beyond COVID-19, targeting other viral diseases. However, the ongoing need for additional capital raises concerns about the sustainability of its operations and the potential impact on its growth strategy.
About Invivyd, Inc.
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