Adagio(US:IVVD) Globenewswire·2025-05-15 11:01Core Insights - Invivyd, Inc. reported financial results for Q1 2025, highlighting a strategic shift to internalize its sales force, which initially created challenges but is now showing signs of growth and momentum [2][6][7]. Financial Results - For Q1 2025, Invivyd reported net product revenue of $11.3 million from PEMGARDA™, a decrease from $13.8 million in Q4 2024, with no revenue reported in Q1 2024 [7][15]. - The company recorded a net loss of $16.3 million for Q1 2025, an improvement from a net loss of $43.5 million in the same period of 2024, resulting in a net loss per share of $0.14 compared to $0.38 in Q1 2024 [15][28]. Cash Position and Funding - As of March 31, 2025, Invivyd had cash and cash equivalents of $48.1 million and secured a $30 million non-dilutive term loan facility to support its operations and potential growth [4][15]. Business Highlights - The company is targeting near-term profitability by the end of the first half of 2025, supported by anticipated growth in net product revenue and a reduction in operating expenses [2][7]. - PEMGARDA's uptake is increasing among healthcare providers for immunocompromised patients, aided by the internalized sales force [8]. Pipeline Developments - VYD2311 Phase 1 clinical trial data read-out is expected later in Q2 2025, with ongoing evaluations for pipeline expansion beyond SARS-CoV-2, including potential targets like respiratory syncytial virus (RSV) and measles [5][8][19]. - The FDA declined Invivyd's request to expand the EUA for PEMGARDA to treat mild-to-moderate COVID-19, but the reasoning may provide a near-term pathway for VYD2311 [8]. Regulatory and Safety Updates - Since the EUA of PEMGARDA in March 2024, no documented cases of anaphylaxis have been reported across thousands of doses administered [7][8]. - In vitro data indicate sustained neutralizing activity of PEMGARDA against dominant SARS-CoV-2 variants, which represent over 75% of circulating variants in the U.S. [8].