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Invivyd | 10-K: Annual report

SEC announcement ·  Mar 28 07:19
Summary by Moomoo AI
Invivyd, Inc., a commercial-stage biopharmaceutical company, has reported its financial and operational results for the year ended December 31, 2023. The company has not generated any revenue from product sales or other sources and reported a net loss of $198.6 million for the year, with an accumulated deficit of $732.1 million. Despite this, Invivyd successfully completed its initial public offering (IPO), raising net proceeds of approximately $327.5 million. The company's common stock is listed on the Nasdaq Global Market under the symbol 'IVVD'. Invivyd has not declared or paid any cash dividends and does not anticipate doing so in the foreseeable future, as it plans to reinvest all available funds and future earnings into business development and expansion. Invivyd's business development has...Show More
Invivyd, Inc., a commercial-stage biopharmaceutical company, has reported its financial and operational results for the year ended December 31, 2023. The company has not generated any revenue from product sales or other sources and reported a net loss of $198.6 million for the year, with an accumulated deficit of $732.1 million. Despite this, Invivyd successfully completed its initial public offering (IPO), raising net proceeds of approximately $327.5 million. The company's common stock is listed on the Nasdaq Global Market under the symbol 'IVVD'. Invivyd has not declared or paid any cash dividends and does not anticipate doing so in the foreseeable future, as it plans to reinvest all available funds and future earnings into business development and expansion. Invivyd's business development has been marked by the emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for PEMGARDA™, a monoclonal antibody for COVID-19 prevention in certain immunocompromised individuals. The company also nominated VYD2311, another monoclonal antibody, for clinical development. Invivyd's future plans include leveraging its INVYMAB platform to periodically introduce new monoclonal antibody candidates to keep pace with viral evolution, particularly for SARS-CoV-2. The company's strategy involves building its own commercial organization and outsourcing to contract sales and marketing organizations. Invivyd's financial outlook indicates that its existing cash and cash equivalents will fund operations into the fourth quarter of 2024, but there is substantial doubt about the company's ability to continue as a going concern beyond that without additional funding.

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