Summary by Moomoo AI
Invivyd, a biopharmaceutical company, reported a net loss of $43.5 million for the quarter ended March 31, 2024, compared to a net loss of $35.3 million for the same period in 2023. The net loss per share for the quarter was $0.38, an increase from the $0.32 loss per share in the previous year. The company did not generate any revenue from product sales during the quarter. Research and development expenses increased by $4.0 million to $31.2 million, primarily due to the development of their VYD222 program and the nomination of VYD2311 as a new product candidate. Selling, general, and administrative expenses also rose by $3.9 million to $14.9 million, mainly due to increased commercialization costs. Invivyd received emergency use authorization (EUA) from the FDA for PEMGARDA™ (pemivibart) in March 2024, marking a significant...Show More