Shares of Vir Biotechnology, Inc. (VIR) plummeted 5.71% in pre-market trading on Thursday following the release of its disappointing second-quarter 2025 financial results. The clinical-stage biotechnology company, focused on infectious diseases and immuno-oncology, reported a significant revenue decline and a larger-than-expected loss per share, prompting investor concerns about its near-term prospects.

Vir's Q2 2025 revenue dropped to $1.2 million, missing the analyst consensus estimate of $2.72 million and representing a stark 61.3% decrease from the $3.1 million reported in the same quarter last year. The company also reported a net loss per share of $(0.80), which was worse than the expected $(0.72) loss per share. These financial results reflect the ongoing challenges faced by the pre-revenue biotech firm as it continues to invest heavily in its clinical pipeline.

Despite the disappointing financial performance, Vir Biotechnology emphasized its progress in advancing key clinical programs. The company highlighted the initiation of patient enrollment in its ECLIPSE 2 and 3 studies, part of the pivotal ECLIPSE program targeting chronic hepatitis delta (CHD), a disease with no currently approved treatments in the United States. Additionally, Vir reported advancements in its oncology pipeline, including the first dosing of patients in a phase 1 trial for VIR-5525, a dual-masked T-cell engager targeting EGFR-expressing solid tumors. The company maintains a strong financial position with $892.1 million in cash, cash equivalents, and investments, which it expects will fund operations through mid-2027. However, the lack of near-term revenue catalysts and ongoing large operating losses continue to weigh on investor sentiment, as reflected in the stock's sharp decline.