$VIR
Vir Biotechnology, Inc.

2021 Q4 Form 10-Q Financial Statement

#000095017021003057 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $812.7M $103.6M $177.1M
YoY Change 46771.22% 5274.27% 164.33%
Cost Of Revenue $56.88M $7.836M $1.144M
YoY Change
Gross Profit $755.9M $95.78M $175.9M
YoY Change 4867.84% 162.62%
Gross Profit Margin 93.0% 92.44% 99.35%
Selling, General & Admin $55.78M $50.50M $28.78M
YoY Change 142.09% 167.76% 75.64%
% of Gross Profit 7.38% 52.72% 16.36%
Research & Development $128.3M $98.67M $86.13M
YoY Change 47.35% 39.59% 8.13%
% of Gross Profit 16.98% 103.02% 48.96%
Depreciation & Amortization $1.521M $1.400M $1.300M
YoY Change 14.36% 27.27% 18.18%
% of Gross Profit 0.2% 1.46% 0.74%
Operating Expenses $184.1M $157.0M $116.1M
YoY Change 67.17% 75.34% 20.84%
Operating Profit $571.8M -$53.39M $61.02M
YoY Change -39.07% -310.03%
Interest Expense -$25.86M $164.1M $97.00K
YoY Change -9015.86% 39920.24% -88.31%
% of Operating Profit -4.52% 0.16%
Other Income/Expense, Net -$7.000K $164.1M $849.0K
YoY Change -100.29% 5320.97% -141.01%
Pretax Income $545.9M $110.8M $61.87M
YoY Change -616.55% -230.94% -298.79%
Income Tax $20.64M $334.0K $53.00K
% Of Pretax Income 3.78% 0.3% 0.09%
Net Earnings $525.3M $110.4M $61.81M
YoY Change -597.17% -230.52% -298.33%
Net Earnings / Revenue 64.63% 106.57% 34.91%
Basic Earnings Per Share $0.85 $0.48
Diluted Earnings Per Share $3.926M $0.82 $0.46
COMMON SHARES
Basic Shares Outstanding 130.9M 130.7M 130.1M
Diluted Shares Outstanding 133.9M 133.8M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $708.1M $939.5M $826.1M
YoY Change -3.9% 13.65% 49.54%
Cash & Equivalents $347.8M $714.5M $742.0M
Short-Term Investments $360.3M $224.9M $84.11M
Other Short-Term Assets $81.60M $33.88M $36.24M
YoY Change 129.85% 47.32% 37.26%
Inventory
Prepaid Expenses
Receivables $773.1M $93.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.563B $1.066B $862.3M
YoY Change 102.34% 25.51% 48.99%
LONG-TERM ASSETS
Property, Plant & Equipment $42.83M $26.61M $20.25M
YoY Change 138.68% 57.01% 24.16%
Goodwill $16.94M $16.94M $16.94M
YoY Change 0.0% 0.22% 0.0%
Intangibles $33.29M $33.42M $33.55M
YoY Change -1.58% -4.36%
Long-Term Investments $201.4M $50.68M
YoY Change
Other Assets $9.781M $9.342M $14.89M
YoY Change -37.7% -15.84% 48.92%
Total Long-Term Assets $391.4M $143.9M $195.3M
YoY Change 167.39% 53.55% 108.91%
TOTAL ASSETS
Total Short-Term Assets $1.563B $1.066B $862.3M
Total Long-Term Assets $391.4M $143.9M $195.3M
Total Assets $1.954B $1.210B $1.058B
YoY Change 112.71% 28.3% 57.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.521M $4.225M $11.03M
YoY Change 28.44% -37.87% 151.76%
Accrued Expenses $141.5M $64.85M $54.07M
YoY Change 84.5% 47.04% 41.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $341.2M $233.7M $146.0M
YoY Change 244.47% 203.54% 165.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $2.540M $3.823M $3.853M
YoY Change -33.97% -92.4% 29.86%
Total Long-Term Liabilities $2.540M $3.823M $3.853M
YoY Change -33.97% -92.44% 29.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $341.2M $233.7M $146.0M
Total Long-Term Liabilities $2.540M $3.823M $3.853M
Total Liabilities $522.4M $333.9M $320.3M
YoY Change 158.74% 155.11% 195.28%
SHAREHOLDERS EQUITY
Retained Earnings -$138.6M -$663.9M $774.3M
YoY Change -79.23% 18.24% -262.36%
Common Stock $13.00K $13.00K $13.00K
YoY Change 0.0% 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.432B $876.3M $737.3M
YoY Change
Total Liabilities & Shareholders Equity $1.954B $1.210B $1.058B
YoY Change 112.71% 28.3% 57.32%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $525.3M $110.4M $61.81M
YoY Change -597.17% -230.52% -298.33%
Depreciation, Depletion And Amortization $1.521M $1.400M $1.300M
YoY Change 14.36% 27.27% 18.18%
Cash From Operating Activities $7.695M -$105.8M $140.1M
YoY Change -109.38% 112.31% -1416.34%
INVESTING ACTIVITIES
Capital Expenditures -$13.07M -$6.006M -$2.074M
YoY Change 437.74% 308.57% 53.63%
Acquisitions
YoY Change
Other Investing Activities -$364.5M $79.87M $77.45M
YoY Change -677.22% -143.43% 549.23%
Cash From Investing Activities -$377.6M $73.86M $75.38M
YoY Change -721.84% -139.84% 612.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.670M 3.629M 3.532M
YoY Change -2280.77% -98.88% -98.28%
NET CHANGE
Cash From Operating Activities 7.695M -105.8M 140.1M
Cash From Investing Activities -377.6M 73.86M 75.38M
Cash From Financing Activities 5.670M 3.629M 3.532M
Net Change In Cash -364.2M -28.32M 219.0M
YoY Change 1586.97% -131.8% 6.67%
FREE CASH FLOW
Cash From Operating Activities $7.695M -$105.8M $140.1M
Capital Expenditures -$13.07M -$6.006M -$2.074M
Free Cash Flow $20.76M -$99.81M $142.1M
YoY Change -126.08% 106.34% -1629.96%

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-196000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-71000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
99000
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-14000
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-6000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-42000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-17000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-190000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-29000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
116000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
110455000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-84799000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3301000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-192900000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
737325000
CY2021Q3 vir Stock Issued During Period Value Issued For Settlement Of Contingent Consideration
StockIssuedDuringPeriodValueIssuedForSettlementOfContingentConsideration
1860000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3690000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22944000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
27000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
110428000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
876274000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
563779000
CY2020Q3 vir Common Stock Issuance Cost
CommonStockIssuanceCost
21786000
CY2020Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
427000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1152000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8582000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-190000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-84609000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
812355000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
716852000
vir Stock Issued During Period Value Collaboration Agreement
StockIssuedDuringPeriodValueCollaborationAgreement
85213000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
17299000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
116000
us-gaap Net Income Loss
NetIncomeLoss
-193016000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
812355000
vir Noncash Lease Expense
NoncashLeaseExpense
2498000
us-gaap Profit Loss
ProfitLoss
3330000
us-gaap Profit Loss
ProfitLoss
-193016000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3891000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3185000
us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
-164072000
us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
0
vir Change In Estimated Fair Value Of Contingent Consideration
ChangeInEstimatedFairValueOfContingentConsideration
63246000
vir Change In Estimated Fair Value Of Contingent Consideration
ChangeInEstimatedFairValueOfContingentConsideration
44432000
vir Stock Issued During Period Value Issued For Settlement Of Contingent Consideration
StockIssuedDuringPeriodValueIssuedForSettlementOfContingentConsideration
1860000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9635000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
59413000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-29000
us-gaap Net Income Loss
NetIncomeLoss
3330000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
876274000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
423942000
vir Reclassification Of Derivative Liability To Additional Paid In Capital
ReclassificationOfDerivativeLiabilityToAdditionalPaidInCapital
29245000
vir Stock Issued During Period Value Collaboration Agreement
StockIssuedDuringPeriodValueCollaborationAgreement
206699000
vir Common Stock Issuance Cost
CommonStockIssuanceCost
21786000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1316000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3540000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
399000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
918000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
832000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
859000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1052000
vir Noncash Lease Expense
NoncashLeaseExpense
4471000
vir Increase Decrease In Payment Of Contingent Consideration In Excess Of Acquisition Date Fair Value
IncreaseDecreaseInPaymentOfContingentConsiderationInExcessOfAcquisitionDateFairValue
-8140000
vir Increase Decrease In Payment Of Contingent Consideration In Excess Of Acquisition Date Fair Value
IncreaseDecreaseInPaymentOfContingentConsiderationInExcessOfAcquisitionDateFairValue
-6453000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-16796000
us-gaap Share Based Compensation
ShareBasedCompensation
59413000
us-gaap Share Based Compensation
ShareBasedCompensation
17299000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
486000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
17000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
93003000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1878000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
416000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1051000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2168000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-959000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1041000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
363399000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9635000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3540000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
94661000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
301243000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
296763000
vir Proceeds From Sale Of Equipment
ProceedsFromSaleOfEquipment
4000
vir Proceeds From Sale Of Equipment
ProceedsFromSaleOfEquipment
0
us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
180000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
529733000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
276145000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
350269000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
451487000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122816000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
727632000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
473085000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-13490000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
13183000
vir Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-383000
vir Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-2343000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
89559000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5746000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-55284000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-108889000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8750000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4119000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
55729000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
236768000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-70575000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
323214000
vir Payment Of Contingent Consideration
PaymentOfContingentConsideration
0
vir Payment Of Contingent Consideration
PaymentOfContingentConsideration
3547000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
187000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
173000
vir Non Cash Common Stock Issued For Contingent Consideration
NonCashCommonStockIssuedForContingentConsideration
1860000
vir Non Cash Common Stock Issued For Contingent Consideration
NonCashCommonStockIssuedForContingentConsideration
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4191000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
598000
vir Operating Lease Liabilities Obtained In Exchange Of Right Of Use Asset
OperatingLeaseLiabilitiesObtainedInExchangeOfRightOfUseAsset
90000
vir Operating Lease Liabilities Obtained In Exchange Of Right Of Use Asset
OperatingLeaseLiabilitiesObtainedInExchangeOfRightOfUseAsset
437000
vir Reclassification Of Derivative Liability To Additional Paid In Capital Upon Achievement Of Development Milestone
ReclassificationOfDerivativeLiabilityToAdditionalPaidInCapitalUponAchievementOfDevelopmentMilestone
29245000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
714521000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
462521000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
6112000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
9363000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
6999000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1201000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
727632000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
473085000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-663900000
CY2021Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
939500000
CY2021Q3 vir Cash Cash Equivalents And Short Term Investments Excluding Equity Investment
CashCashEquivalentsAndShortTermInvestmentsExcludingEquityInvestment
770100000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting periods. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates.</span>
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Embedded Derivatives</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company evaluates its acquisitions, collaborative arrangements and other business development transactions to determine if embedded components of these contracts meet the definition of a derivative under ASC 815, Derivatives and Hedging. In general, embedded derivatives are required to be bifurcated from the host instrument if (i) the embedded feature is not clearly and closely related to the host contract and (ii) the embedded feature, if considered a freestanding instrument, meets the definition of a derivative. Embedded derivatives are reported on the condensed consolidated balance sheets at their estimated fair values. Contingent consideration related to asset acquisitions that meet the definition of an embedded derivative is classified as contingent consideration on the condensed consolidated balance sheets. Any change in estimated fair values, as determined at each measurement period, are recorded in the condensed consolidated statements of operations based on the nature of the related contingencies.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.0pt;font-family:Times New Roman;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Changes in fair values of embedded derivatives related to the achievement of various development milestones for product candidates are recorded within research and development expenses. Otherwise, changes in fair values are recorded within other income (expense), net.</span><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2021Q3 vir Financial Assets Amortized Cost Basis
FinancialAssetsAmortizedCostBasis
767093000
CY2021Q3 vir Financial Assets Gross Unrealized Holding Gains
FinancialAssetsGrossUnrealizedHoldingGains
14000
CY2021Q3 vir Financial Assets Gross Unrealized Holding Losses
FinancialAssetsGrossUnrealizedHoldingLosses
0
CY2021Q3 vir Financial Assets Fair Value
FinancialAssetsFairValue
767107000
CY2020Q4 vir Financial Assets Amortized Cost Basis
FinancialAssetsAmortizedCostBasis
722036000
CY2020Q4 vir Financial Assets Gross Unrealized Holding Gains
FinancialAssetsGrossUnrealizedHoldingGains
91000
CY2020Q4 vir Financial Assets Gross Unrealized Holding Losses
FinancialAssetsGrossUnrealizedHoldingLosses
6000
CY2020Q4 vir Financial Assets Fair Value
FinancialAssetsFairValue
722121000
us-gaap Financing Receivable Accrued Interest Writeoff
FinancingReceivableAccruedInterestWriteoff
0
us-gaap Financing Receivable Accrued Interest Writeoff
FinancingReceivableAccruedInterestWriteoff
0
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39716000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27178000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13106000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9232000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26610000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17946000
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3900000
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3200000
CY2021Q3 vir Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
27330000
CY2020Q4 vir Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
49384000
CY2021Q3 vir Payroll And Related Expenses Current
PayrollAndRelatedExpensesCurrent
15127000
CY2020Q4 vir Payroll And Related Expenses Current
PayrollAndRelatedExpensesCurrent
17060000
CY2021Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
8069000
CY2020Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
0
CY2021Q3 vir Excess Funds Payable Under Grant Agreements Current
ExcessFundsPayableUnderGrantAgreementsCurrent
1398000
CY2020Q4 vir Excess Funds Payable Under Grant Agreements Current
ExcessFundsPayableUnderGrantAgreementsCurrent
3467000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3554000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3625000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4052000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2595000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5315000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
805000
CY2021Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
64845000
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
76936000
vir Lease Arrangement Contractual Expiration Beginning Year
LeaseArrangementContractualExpirationBeginningYear
2021
vir Lease Arrangement Contractual Expiration Ending Year
LeaseArrangementContractualExpirationEndingYear
2033
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain lease agreements also provide the Company with the option to renew for additional periods ranging from one to five years.
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1861000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9709000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11383000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10561000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.888
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.086
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
109006000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8038000
CY2021Q3 vir Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
67454000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
36744000
CY2021Q3 vir Lessee Operating Lease Liability Net Tenant Improvement Allowance Yet To Be Received
LesseeOperatingLeaseLiabilityNetTenantImprovementAllowanceYetToBeReceived
10287000
CY2021Q3 vir Present Value Of Operating Lease Liabilities
PresentValueOfOperatingLeaseLiabilities
61975000
CY2021Q3 vir Operating Lease Liability Current Net Of Tenant Improvement Allowances Included In Prepaid
OperatingLeaseLiabilityCurrentNetOfTenantImprovementAllowancesIncludedInPrepaid
10183000
CY2020Q4 vir Operating Lease Liability Current Net Of Tenant Improvement Allowances Included In Prepaid
OperatingLeaseLiabilityCurrentNetOfTenantImprovementAllowancesIncludedInPrepaid
7913000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
57566000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
61947000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3554000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3625000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
68604000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
66556000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
72158000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
70181000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.069
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.115
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.997
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.086
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.031
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.115
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.008
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.010
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.003
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.006
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.003
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22944000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8582000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59413000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17299000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
110428000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-84609000
us-gaap Net Income Loss
NetIncomeLoss
3330000
us-gaap Net Income Loss
NetIncomeLoss
-193016000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130665831
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125810907
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129520837
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116427529
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3173930
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3757681
CY2021Q3 vir Incremental Common Shares Attributable To Dilutive Effect Of Restricted Share Subject To Future Vesting
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedShareSubjectToFutureVesting
14658
vir Incremental Common Shares Attributable To Dilutive Effect Of Restricted Share Subject To Future Vesting
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedShareSubjectToFutureVesting
36138
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4323
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133854419
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125810907
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133318979
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116427529
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.66
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.66
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7454920
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9742646
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6375069
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9742646

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