IVVD Invivyd
Price Chart
Executive Summary
Invivyd reported Q1 2026 PEMGARDA revenue of $13.7M (+22% YoY), beating consensus estimates on both revenue ($13.7M vs $18.1M expected) and EPS (-$0.04 vs -$0.08 expected). The company highlighted continued in vitro neutralizing activity against the BA.3.2.2 variant, IDMC recommendation to reduce post-dose monitoring time for VYD2311, and a strong cash position of $184.2M providing runway through the DECLARATION data readout in Q3 2026. However, net loss widened to $41.4M from $16.3M a year ago due to increased R&D spending on the DECLARATION trial, and the company raised ~$20M via ATM in April.
Actionable Insight
The EPS beat and revenue growth are overshadowed by the revenue miss vs consensus and widening losses. The key catalyst is the DECLARATION top-line data in Q3 2026 — monitor for enrollment completion and event accumulation updates. The ATM raise and cash runway suggest no near-term financing urgency, but the 158% share count dilution over the past year is a structural overhang.
Key Facts
- Q1 2026 PEMGARDA net product revenue $13.7M, up 22% from $11.3M in Q1 2025
- EPS -$0.04 beat consensus of -$0.08 (50% beat)
- Revenue $13.7M missed consensus of $18.1M (24% miss)
- Net loss widened to $41.4M from $16.3M YoY, driven by $30.7M R&D (vs $10.6M)
- Cash and equivalents $184.2M as of March 31, 2026; additional ~$20M raised via ATM in April 2026
- IDMC recommended reduction of VYD2311 post-dose monitoring from 2 hours to 30 minutes
- DECLARATION trial upsized by ~500 subjects; top-line data expected Q3 2026 (shifted from mid-2026)
- Measles mAb candidate VMS063 advancing toward IND readiness in late 2026
- Weighted-average shares outstanding 309.7M (basic/diluted), up 158% YoY from 119.9M
Financial Impact
Revenue beat consensus by 24% on a dollar basis ($13.7M vs $18.1M), but EPS beat was on a small absolute base. Net loss widened significantly. Cash burn rate increased.
Risk Factors
- Revenue miss vs consensus of $18.1M despite 22% YoY growth — top-line expectations may have been too high
- Net loss more than doubled to $41.4M with R&D spending tripling; cash burn rate is accelerating
- DECLARATION trial upsized by ~500 subjects, pushing data readout to Q3 2026 — adds execution risk and delays catalyst
- 158% YoY dilution in weighted-average shares outstanding pressures per-share metrics
- PEMGARDA EUA is contingent on variant susceptibility; future variants could reduce its effectiveness
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294770 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
1d ago
|
Institutional Cluster
| $0.8286 awaiting T+5 | awaiting T+5 | — | $0.7700 (−7.07%) |
|
Jun 9, 2026
4d ago
|
Press Release
| $1.02 awaiting T+5 | awaiting T+5 | — | $0.7700 (−24.51%) |
|
Jun 1, 2026
12d ago
|
Press Release
| $1.22 $1.03 | ▼ −15.57% | ▼ −12.82% | $0.7700 (−36.89%) |
|
May 14, 2026
4w ago
|
8-K
| $1.16 $1.11 | ▼ −4.31% | ▼ −3.59% | $0.7700 (−33.62%) |
|
May 14, 2026
4w ago
|
Press Release
| $1.16 $1.11 | ▼ −4.31% | ▼ −3.59% | $0.7700 (−33.62%) |
|
Apr 9, 2026
9w ago
|
8-K
| $1.78 $1.71 | ▼ −3.93% | ▼ −7.12% | $0.7700 (−56.74%) |
|
Apr 9, 2026
9w ago
|
Press Release
| $1.78 $1.71 | ▼ −3.93% | ▼ −7.12% | $0.7700 (−56.74%) |
|
Apr 7, 2026
9w ago
|
Press Release
| $1.29 $1.61 | ▲ +24.81% | ▲ +19.48% | $0.7700 (−40.31%) |
|
Mar 5, 2026
14w ago
|
8-K
| $1.74 $1.80 | ▲ +3.45% | ▲ +5.69% | $0.7700 (−55.75%) |
|
Mar 5, 2026
14w ago
|
Press Release
| $1.74 $1.80 | ▲ +3.45% | ▲ +5.69% | $0.7700 (−55.75%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access