Invivyd (NASDAQ:IVVD) reported preliminary fourth-quarter net product revenue of $17.2 million for its COVID-19 antibody, PEMGARDA.
The figure marks a 25% increase over the same period last year and a 31% sequential jump from the third quarter.
The steady commercial climb comes at a critical juncture for the New Haven-based company, which is positioning its next-generation antibody, VYD2311, as a "vaccine alternative" for a broader population.
The company’s financial position saw a significant transformation in the second half of 2025, raising more than $200 million through financing transactions.
Invivyd ended the year with approximately $226.7 million in cash and cash equivalents, providing a substantial runway to fund its ambitious 2026 clinical goals.
Chief Financial Officer Bill Duke noted that the revenue growth reflects a "fundamental appeal" for antibody prophylaxis as traditional COVID-19 vaccination trends continue to soften.
Central to the company’s growth strategy is the newly initiated DECLARATION Phase 3 trial.
The study will evaluate VYD2311—which received FDA Fast Track designation in December—across nearly 1,770 participants.
By testing both single intramuscular doses and monthly administration arms, Invivyd aims to offer a flexible dosing paradigm that could appeal to at-risk individuals seeking "periodic extra protection" rather than annual boosters. Top-line data from the trial is expected in mid-2026.
Beyond COVID-19, Invivyd is diversifying into other high-burden respiratory viruses.
The company recently nominated VBY329 as a preclinical candidate for Respiratory Syncytial Virus (RSV), claiming the antibody demonstrates superior in vitro potency compared to current market leaders like nirsevimab.