Invivyd Inc (NASDAQ: IVVD) is a clinical-stage biopharmaceutical company developing monoclonal antibody product candidates, with a focus on infectious disease. The company has no approved products generating commercial revenue as of its 10-K filed March 5, 2026, and funds operations through capital raises rather than product sales. Invivyd relies on third-party manufacturers, including WuXi Biologics, for production of its product candidates, and collaborates with Adimab under an antibody discovery agreement that includes milestone payments of up to $18.0 million per product and mid-single-digit royalties on net sales upon commercialization. The company is subject to FDA regulation across development, approval, and any future marketing activities, as well as federal and state fraud, abuse, and pricing laws including provisions of the Inflation Reduction Act affecting Medicare drug pricing. All specific financial figures in the December 31, 2025 balance sheet are redacted in the available filing excerpts.

Revenue model

Invivyd has no product revenue as of the 10-K filed March 5, 2026. If product candidates reach commercialization, revenue would come from product sales subject to royalty obligations to Adimab at a mid-single-digit percentage of net sales.

Products and services

Monoclonal antibody product candidates in development, discovered or optimized under the Adimab Collaboration Agreement. Specific product names and pipeline stage details are not supported by the available filing excerpts.

Customers and end markets

Target end markets include infectious disease treatment, with potential customers in Medicare and broader healthcare payor channels. No commercial customers exist as of the filing date.

Value-chain role

Clinical-stage drug developer. Outsources manufacturing to contract manufacturers including WuXi Biologics and uses third-party contract research organizations for preclinical studies and clinical trials.

Geographic exposure

Incorporated and headquartered in the United States. Geographic revenue mix is not applicable given pre-commercial status.

Source: SEC 10-K, filed 2026-03-05

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