Thu, May 15, 11:17 AM (37 days ago)
**Summary of Invivyd, Inc. (IVVD) Q1 2025 Financial Performance** **Financial Health and Performance Metrics:** - **Revenue:** $11.3 million (Q1 2024: $0) - **Net Loss:** $16.3 million (Q1 2024: $43.5 million) - **Cash and Cash Equivalents:** $48.1 million (Q1 2024: $189.4 million) - **Accumulated Deficit:** $918.3 million (Q1 2024: $901.9 million) **Profit Margins:** - **Gross Margin:** Approximately 80% (adjusted for pre-EUA manufacturing costs) - **Operating Margin:** Negative due to significant R&D and SG&A expenses **Cash Flow:** - **Operating Cash Flow:** Negative $21.1 million (Q1 2024: Negative $50.2 million) - **Investing Cash Flow:** Negative $0.1 million (Q1 2024: Negative $0.1 million) - **Financing Cash Flow:** Positive $0.1 million (Q1 2024: Positive $39.3 million) **Earnings Changes:** - **Decrease in R&D Expenses:** $20.5 million (Q1 2024: $31.2 million) - **Increase in SG&A Expenses:** $1.8 million (Q1 2024: $14.9 million) **Quarterly Performance Discussion:** - **Product Revenue:** $11.3 million from PEMGARDA sales - **Cost of Product Revenue:** $0.8 million - **R&D Expenses:** $10.6 million (Q1 2024: $31.2 million) - **SG&A Expenses:** $16.8 million (Q1 2024: $14.9 million) - **Other Income:** $0.6 million (Q1 2024: $2.6 million) **Trends and Uncertainties:** - **Product Sales:** Positive trend with PEMGARDA sales - **Cash Burn:** Continued negative cash flow, substantial doubt about going concern - **Funding:** Need for additional financing through equity offerings, debt, or strategic alliances **Future Operations Impact:** - **Commercialization:** Continued focus on PEMGARDA commercialization - **R&D:** Advancement of VYD2311 and other product candidates - **Regulatory:** Potential EUA for VYD2311 and other candidates **Key Risks:** - **Market Risks:** Dependence on PEMGARDA sales and regulatory approvals - **Financial Risks:** Need for additional funding, substantial doubt about going concern - **Operational Risks:** Dependence on third-party manufacturers and collaborators **Subsequent Events:** - **Loan Agreement:** $30 million term loan facility with Silicon Valley Bank - **Sales Agreement:** $34.5 million remaining for sale under the Sales Agreement **Conclusion:** Invivyd, Inc. showed improved revenue from PEMGARDA sales but continues to face significant financial challenges, including substantial operating losses and negative cash flow. The company needs additional funding to support its operations and growth strategy.