Invivyd revenue grows 22% as company shifts focus to next-gen COVID antibody

Invivyd (NASDAQ:IVVD) reported first-quarter 2026 results Thursday, showcasing steady commercial progress for its COVID-19 preventative treatment, PEMGARDA®.

While the company achieved a double-digit revenue increase, its net loss widened significantly as it aggressively funded a pivotal Phase 3 program and expanded its pipeline into other infectious diseases like measles and RSV.

Invivyd announced that net product revenue for PEMGARDA reached $13.7 million in the first quarter of 2026, a 22% increase compared to the $11.3 million recorded in the prior-year period.

The growth reflects sustained demand among immunocompromised individuals who remain at high risk for COVID-19, even as broader public health measures have scaled back.

The company’s net loss for the quarter was $41.4 million, or $0.13 per share, compared to a net loss of $16.3 million in the first quarter of 2025.

The increased loss was primarily driven by a surge in research and development expenses, which tripled to $30.7 million as the company finalized enrollment and safety monitoring for its DECLARATION pivotal trial.

Selling, general, and administrative (SG&A) expenses also rose to $25.1 million to support the commercial rollout of PEMGARDA and market education efforts.

A key update in the report concerned the timing of the VYD2311 data readout.

Following a strategic "upsizing" of the DECLARATION trial by approximately 500 subjects to increase statistical power, topline data is now expected in the third quarter of 2026.

The company also highlighted that an Independent Data Monitoring Committee (IDMC) recently recommended reducing the post-dose monitoring time for VYD2311 from two hours to just 30 minutes, a move that could significantly lower the barrier to clinical adoption.

Beyond COVID-19, Invivyd is diversifying its INVYMAB™ platform.

The company recently advanced VMS063, a novel monoclonal antibody for the treatment and prevention of measles, toward IND-enabling studies with a target for clinical entry in late 2026.

It is also progressing VBY329, an investigational candidate targeting Respiratory Syncytial Virus (RSV).

As of March 31, 2026, Invivyd held $184.2 million in cash and cash equivalents.

This was supplemented by approximately $20 million in gross proceeds raised through its "at-the-market" (ATM) facility in April, providing the company with a runway to fund operations through its anticipated pivotal data milestones later this year.