Adagio(US:IVVD)2025-11-06 14:32Financial Data and Key Metrics Changes - Invivyd's Pemgarda revenues grew by 11% quarter on quarter and 41% year over year, reflecting ongoing market awareness efforts [18] - The company raised approximately $87 million in capital during the quarter, enhancing its financial position to support pivotal clinical programs and commercial expansion [5][18] Business Line Data and Key Metrics Changes - The commercial franchise for Pemgarda is expanding, with over 15,000 contracted GPO sites and more than 1,200 sites offering infusion, with 76% of those accounts reordering [13][14] - The company is transitioning from a smaller patient population to a broader market opportunity with the anticipated launch of VYD2311 [13][15] Market Data and Key Metrics Changes - COVID vaccine sales in the U.S. totaled $3.8 billion last year, indicating a significant market opportunity for Invivyd's products [17] - Current COVID vaccine uptake is substantially below that of influenza vaccines, despite higher public concern about COVID [16] Company Strategy and Development Direction - Invivyd aims to provide a widely available option for COVID prevention, addressing the limitations of current vaccines and focusing on the safety and efficacy of its antibody-based therapies [15][17] - The company is preparing for the launch of VYD2311, with pivotal data expected in mid-2026, and is actively engaging with healthcare providers to expand its market reach [12][18] Management's Comments on Operating Environment and Future Outlook - Management views the next 12 to 18 months as a critical period for Invivyd, with expectations for significant advancements in COVID prevention strategies [7] - The company is focused on demonstrating the safety and efficacy of VYD2311 compared to existing vaccines, addressing public concerns about vaccination safety [11][12] Other Important Information - Invivyd is conducting pivotal studies (Declaration and Liberty) to gather comprehensive data on the efficacy and safety of VYD2311, which could reshape COVID prevention strategies [10][12] - The company is also exploring early-stage discovery efforts in RSV and measles, with plans for rapid advancement into clinical development [30][32] Q&A Session Summary Question: Will Invivyd wind down Pemgarda once the next-gen product is approved? - Management confirmed that there are no plans to actively sunset Pemgarda, as it remains a differentiated medicine despite its scalability challenges [21] Question: Can you clarify the coordination between CBR and CDR for the Liberty study? - Management indicated that coordination between CBER and CDER is expected, but specific details would be best addressed by the FDA [23][25] Question: What are the commercial team's current reach and plans for expansion beyond infusion centers? - The commercial team is building upon its foundation to reach specialists caring for immunocompromised patients and plans to enhance digital outreach and field presence [29] Question: How does Invivyd intend to differentiate its early-stage discovery efforts in RSV and measles? - Management explained that differentiation will focus on resistance profiles and biophysical properties, with updates expected before the end of the year [30][32]