> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Vir Biotechnology Books Negative Revenue Of $188,000 As Partners Cover More Of Its Trial Bills - URL: https://www.bullished.co/vir-biotechnology-books-negative-revenue-of-188-000-as-partners-cover-more-of-its-trial-22d1bff5/ - Published: 2026-11-04T22:28:51.000Z - Updated: 2026-11-04T22:28:51.000Z - Description: Partner cost recoveries cut Vir's third-quarter R&D to $80.0 million while cash fell to about $901.3 million before a $90.0 million Gilead payment. - Author: Matteo Parrino - Tags: Earnings, VIR, Industry: Healthcare [Vir Biotechnology](https://www.bullished.co/tag/vir/), which develops antibody and other investigational medicines for infectious disease and cancer, reported [total revenue of negative $188,000](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026070273/vir-20260930.htm?ref=bullished.co) for the third quarter, against positive $240,000 a year earlier. Reimbursements from partners Astellas and Norgine are now shaving its reported research spending, so the expense line understates what its trials cost. ## A negative quarter after a $239 million windfall License and collaboration revenue was negative $200,000 in the quarter. For the first nine months, total revenue was $238.7 million, nearly all of it the $239.3 million residual of Astellas's $240.0 million upfront payment, which Vir booked in the second quarter. The [prior quarterly filing](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026053549/vir-20260630.htm?ref=bullished.co) showed the resulting profit for that period. The nine-month net loss was $141.9 million, against $395.1 million a year earlier. The third-quarter net loss was $96.3 million, or $0.57 per share, versus $163.1 million, or $1.17 per share, a year earlier, [the company said](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026070148/a20261104-q3ex991earningsr.htm?ref=bullished.co). ## Partners are paying for the pipeline R&D expense fell to $80.0 million from $151.5 million a year earlier. A $75.0 million milestone tied to VIR-5525 in the third quarter of 2025 did not repeat, and the licenses and collaborations line turned into a net credit of $11.9 million on cost recoveries from Astellas and Norgine. Astellas bears 60% of global development costs for the prostate cancer candidate VIR-5500, and the company booked about $8.6 million of Astellas reimbursements in the quarter. Norgine pays about 25% of external costs for the hepatitis delta trials, worth about $3.4 million in the quarter. Higher contract manufacturing partly offset the savings. ## Cash down, Gilead money arriving Cash, cash equivalents and investments stood at about $901.3 million at September 30, down $106.5 million during the quarter from about $1.01 billion at June 30\. That excludes Gilead's October payment of $90.0 million, which included $14.16-per-share stock sales. Vir is also eligible for up to $45.0 million in near-term preclinical milestones and up to $1.74 billion in further milestones. Management continues to expect cash to fund operations into the second half of 2028. Vir has [Fast Track designation](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026070148/a20261104-q3ex991earningsr.htm?ref=bullished.co) for VIR-5500 and says it expects multiple pivotal trials to begin in 2027. Topline data from the pivotal ECLIPSE 1 hepatitis delta trial are due in the fourth quarter, with ECLIPSE 2 and 3 results expected in the first quarter of 2027. ### Sources - [10-Q Filing — Vir Biotechnology (VIR)](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026070273/vir-20260930.htm?ref=bullished.co) — SEC EDGAR - [10-Q Filing — Vir Biotechnology (VIR), Q2 FY2026 filed 2026-08-05 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026053549/vir-20260630.htm?ref=bullished.co) — SEC EDGAR - [8-K Filing — Vir Biotechnology, filed 2026-10-28 (Items 5.02)](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026067742/vir-20261026.htm?ref=bullished.co) — SEC EDGAR - [Earnings release (8-K Item 2.02, a20261104-q3ex991earningsr.htm) — Vir Biotechnology, filed 2026-11-04](https://www.sec.gov/Archives/edgar/data/0001706431/000162828026070148/a20261104-q3ex991earningsr.htm?ref=bullished.co) — SEC EDGAR - [Vir Biotechnology, Inc. (VIR) stock price, news, quote and history - Yahoo Finance](https://uk.finance.yahoo.com/quote/VIR/?ref=bullished.co) — Yahoo Finance - [Vir Biotechnology Non-GAAP EPS of -$0.57 beats by $0.18 (VIR:NASDAQ)](https://seekingalpha.com/news/4665770-vir-biotechnology-non-gaap-eps-of--057-beats-by-018?ref=bullished.co) — seekingalpha.com - [Vir Biotechnology Provides Corporate Update and Reports Third Quarter 2026 Financial Results](https://www.businesswire.com/news/home/20261104025803/en/Vir-Biotechnology-Provides-Corporate-Update-and-Reports-Third-Quarter-2026-Financial-Results?ref=bullished.co) — businesswire.com - [Vir Biotechnology to Participate in the Jefferies 2026 London Healthcare Conference](https://www.businesswire.com/news/home/20261102069944/en/Vir-Biotechnology-to-Participate-in-the-Jefferies-2026-London-Healthcare-Conference?ref=bullished.co) — businesswire.com ### More on Vir Biotechnology - [Vir Biotechnology Adds Cancer Immunotherapy Researcher Suzanne Topalian As Ninth Director](https://www.bullished.co/vir-biotechnology-adds-cancer-immunotherapy-researcher-suzanne-topalian-as-ninth-director-23134121/) - [Vir Biotechnology Could Collect Up To $135 Million Near Term From Gilead Cancer Deal](https://www.bullished.co/vir-biotechnology-could-collect-up-to-135-million-near-term-from-gilead-cancer-deal-1df41d82/) - [Vir's Prostate Cancer Drug VIR-5500 Gets FDA Fast Track Status, With Phase 3 Planned For 2027](https://www.bullished.co/virs-prostate-cancer-drug-vir-5500-gets-fda-fast-track-status-with-phase-3-planned-for-2184e666/) [All Vir Biotechnology (VIR) coverage →](https://www.bullished.co/tag/vir/)