$VIR
Vir Biotechnology, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019043877 Filed on November 19, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $1.403M $3.126M $2.885M
YoY Change -51.37%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.220M $7.950M $7.390M
YoY Change 24.76%
% of Gross Profit
Research & Development $39.86M $21.97M $29.84M
YoY Change 33.59%
% of Gross Profit
Depreciation & Amortization $900.0K $900.0K $400.0K
YoY Change 125.0%
% of Gross Profit
Operating Expenses $49.08M $29.92M $37.23M
YoY Change 31.83%
Operating Profit -$34.35M
YoY Change
Interest Expense $2.010M $620.0K $710.0K
YoY Change 183.1%
% of Operating Profit
Other Income/Expense, Net -$647.0K -$200.0K $890.0K
YoY Change -172.7%
Pretax Income -$48.33M -$26.37M -$33.46M
YoY Change 44.45%
Income Tax -$13.00K $20.00K $0.00
% Of Pretax Income
Net Earnings -$48.31M -$26.39M -$33.46M
YoY Change 44.41%
Net Earnings / Revenue -3443.62% -844.31% -1159.65%
Basic Earnings Per Share -$4.60
Diluted Earnings Per Share -$4.60 -$241.2K -$305.9K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.2M
YoY Change
Cash & Equivalents $93.70M $47.60M $47.67M
Short-Term Investments $226.5M
Other Short-Term Assets $17.50M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $337.7M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $15.45M $12.29M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.50M
YoY Change
Total Long-Term Assets $84.94M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $337.7M
Total Long-Term Assets $84.94M
Total Assets $422.6M $191.6M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.815M $6.473M
YoY Change
Accrued Expenses $22.95M $14.53M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $200.0K
YoY Change
Total Short-Term Liabilities $44.32M $39.91M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $900.0K
YoY Change
Other Long-Term Liabilities $3.030M $1.588M
YoY Change
Total Long-Term Liabilities $3.030M $1.588M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $44.32M $39.91M
Total Long-Term Liabilities $3.030M $1.588M
Total Liabilities $66.83M $61.64M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$304.7M -$193.8M
YoY Change
Common Stock $1.000K $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$280.8M -$179.2M -$154.0M
YoY Change
Total Liabilities & Shareholders Equity $422.6M $191.6M
YoY Change

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$48.31M -$26.39M -$33.46M
YoY Change 44.41%
Depreciation, Depletion And Amortization $900.0K $900.0K $400.0K
YoY Change 125.0%
Cash From Operating Activities -$36.96M -$29.51M -$34.61M
YoY Change 6.79%
INVESTING ACTIVITIES
Capital Expenditures -$1.260M -$2.810M -$1.520M
YoY Change -17.11%
Acquisitions
YoY Change
Other Investing Activities $48.55M $18.90M $19.89M
YoY Change 144.09%
Cash From Investing Activities $47.29M $16.10M $18.37M
YoY Change 157.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.730M 10.44M 2.210M
YoY Change -21.72%
NET CHANGE
Cash From Operating Activities -36.96M -29.51M -34.61M
Cash From Investing Activities 47.29M 16.10M 18.37M
Cash From Financing Activities 1.730M 10.44M 2.210M
Net Change In Cash 12.06M -2.970M -14.03M
YoY Change -185.96%
FREE CASH FLOW
Cash From Operating Activities -$36.96M -$29.51M -$34.61M
Capital Expenditures -$1.260M -$2.810M -$1.520M
Free Cash Flow -$35.70M -$26.70M -$33.09M
YoY Change 7.89%

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317335000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
14215000
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
1202000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
38000
vir Proceeds From Repayment Of Promissory Notes
ProceedsFromRepaymentOfPromissoryNotes
3265000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1066000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
325000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
319144000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14540000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
46008000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-126587000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105370000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62334000
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On September 16, 2019, the Company’s board of directors approved an amendment to the Company’s amended and restated certificate of incorporation to effect a 1-for-4.5 reverse split (“Reverse Split”) of shares of the Company’s common and convertible preferred stock, which was effected on September 27, 2019.
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-304700000
CY2019Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
320200000
vir Deferred Issuance Costs Incurred And Not Paid
DeferredIssuanceCostsIncurredAndNotPaid
1938000
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
93698000
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
47670000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
8822000
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
13661000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2850000
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1003000
us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-weight:normal;"/>Organization </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Vir Biotechnology, Inc. (“Vir” or the “Company”) is a clinical-stage immunology company focused on combining immunologic insights with cutting-edge technologies to treat and prevent serious infectious diseases. The Company’s approach begins with identifying the limitations of the immune system in combating a particular pathogen, the vulnerabilities of that pathogen and the reasons why previous approaches have failed. The Company then brings to bear powerful technologies that the Company believes, individually or in combination, will lead to effective therapies. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reverse Stock Split </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 16, 2019, the Company’s board of directors approved an amendment to the Company’s amended and restated certificate of incorporation to effect a 1-for-4.5 reverse split (“Reverse Split”) of shares of the Company’s common and convertible preferred stock, which was effected on September 27, 2019. The par value per share and authorized shares of common stock and convertible preferred stock were not adjusted as a result of the Reverse Split. All of the share and per share information included in the accompanying condensed consolidated financial statements has been adjusted to reflect the Reverse Split. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Initial Public Offering</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 10, 2019, the Company completed its initial public offering (“IPO”) of its common stock. In connection with its IPO, the Company issued and sold 7,142,858 shares of its common stock at a price of $20.00 per share. As a result of the IPO, the Company received $127.2 million in net proceeds, after deducting underwriting discounts, commissions and estimated offering expenses. At the closing of the IPO, 88,112,733 shares of outstanding convertible preferred stock were automatically converted into 88,112,733 shares of common stock and a warrant to purchase 244,444 shares of convertible preferred stock was converted into a warrant to purchase 244,444 shares of common stock. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The condensed consolidated financial statements as of September 30, 2019, including share and per share amounts, do not give effect to the IPO, the conversion of the convertible preferred stock into common stock, or the conversion of a preferred stock warrant into a warrant to purchase common stock and related reclassification into permanent equity, as the IPO and such conversions and reclassification into permanent equity were completed subsequent to September 30, 2019.</p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Need for Additional Capital </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred net losses since inception and expects such losses to continue over the next several years. At September 30, 2019, the Company had an accumulated deficit of $304.7 million. Management expects to incur additional losses in the future to conduct research and development and recognizes the need to raise additional capital to fully implement its business plan. Prior to completing its IPO in October 2019, the Company financed its operations primarily through the sale and issuance of convertible preferred stock. The Company had $320.2 million of cash, cash equivalents and short-term investments at September 30, 2019. Based on the Company’s business plans, management believes that its cash, cash equivalents and short-term investments as of September 30, 2019, together with the proceeds received from the IPO, will be sufficient to meet its obligations for at least the next 12 months from the issuance date of these condensed consolidated financial statements. </p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 assets and 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 style="font-style:italic;">. </span>The most significant estimates in the Company’s condensed consolidated financial statements relate to business combinations, accrued expenses, defined benefit pension plans, the valuation of convertible preferred stock and common stock, the valuation of stock options and the valuation allowance for deferred tax assets. </p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Cash and cash equivalents are deposited in checking and sweep accounts at a financial institution. Such deposits may, at times, exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s investment policy limits investments to certain types of securities issued by the U.S. government, its agencies and institutions with investment-grade credit ratings and places restrictions on maturities and concentration by type and issuer. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents and short-term investments and issuers of the short-term investments to the extent recorded on the condensed consolidated balance sheets. As of September 30, 2019, the Company has no off-balance sheet concentrations of credit risk.</p>
CY2019Q3 vir Financial Assets Amortized Cost Basis
FinancialAssetsAmortizedCostBasis
328246000
CY2019Q3 vir Financial Assets Gross Unrealized Holding Gains
FinancialAssetsGrossUnrealizedHoldingGains
158000
CY2019Q3 vir Financial Assets Fair Value
FinancialAssetsFairValue
328404000
CY2019Q3 vir Financial Liabilities Amortized Cost Basis
FinancialLiabilitiesAmortizedCostBasis
14494000
CY2019Q3 vir Financial Liabilities Fair Value
FinancialLiabilitiesFairValue
14494000
CY2018Q4 vir Financial Assets Amortized Cost Basis
FinancialAssetsAmortizedCostBasis
94459000
CY2018Q4 vir Financial Assets Gross Unrealized Holding Losses
FinancialAssetsGrossUnrealizedHoldingLosses
14000
CY2018Q4 vir Financial Assets Fair Value
FinancialAssetsFairValue
94445000
CY2018Q4 vir Financial Liabilities Amortized Cost Basis
FinancialLiabilitiesAmortizedCostBasis
10274000
CY2018Q4 vir Financial Liabilities Fair Value
FinancialLiabilitiesFairValue
10274000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
200000
CY2019Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2019Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2019Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2019Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2019Q3 vir Restricted Stock Liability Current
RestrictedStockLiabilityCurrent
1672000
vir Lease Arrangement Contractual Expiration Ending Year
LeaseArrangementContractualExpirationEndingYear
2028
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19599000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14006000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4151000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1716000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15448000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12290000
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
900000
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1000000.0
CY2019Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1200000
CY2019Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
200000
CY2019Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
900000
CY2019Q3 vir Payroll And Related Expenses Current
PayrollAndRelatedExpensesCurrent
6813000
CY2018Q4 vir Payroll And Related Expenses Current
PayrollAndRelatedExpensesCurrent
6165000
CY2019Q3 vir Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
11536000
CY2018Q4 vir Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
5016000
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1199000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
694000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1733000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2659000
CY2019Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22953000
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14534000
vir Lease Arrangement Contractual Expiration Beginning Year
LeaseArrangementContractualExpirationBeginningYear
2020
CY2019Q3 vir Lessee Operating And Finance Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1105000
CY2019Q3 vir Lessee Operating And Finance Lease Liability Payments Due Next Twelve Months
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueNextTwelveMonths
4273000
CY2019Q3 vir Lessee Operating And Finance Lease Liability Payments Due Year Two
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearTwo
4053000
CY2019Q3 vir Lessee Operating And Finance Lease Liability Payments Due Year Three
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearThree
4138000
CY2019Q3 vir Lessee Operating And Finance Lease Liability Payments Due Year Four And Thereafter
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearFourAndThereafter
8240000
CY2019Q3 vir Lessee Operating And Finance Lease Liability Payments Due
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDue
21809000
CY2019Q3 vir Operating And Finance Rent Expense
OperatingAndFinanceRentExpense
1200000
CY2018Q3 vir Operating And Finance Rent Expense
OperatingAndFinanceRentExpense
900000
vir Operating And Finance Rent Expense
OperatingAndFinanceRentExpense
3200000
vir Operating And Finance Rent Expense
OperatingAndFinanceRentExpense
3100000
CY2019Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
421450000
CY2019Q3 vir Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
88112733
CY2019Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
636612000
CY2019Q3 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
675567000
CY2018Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
421450000
CY2018Q4 vir Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
69910520
CY2018Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
309137000
CY2018Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
333058000
CY2019Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
Each share of Series A-1 convertible preferred stock, Series A-2 convertible preferred stock and Series B convertible preferred stock was convertible, at the option of the holder, into one share of common stock, subject to certain adjustments for dilution, if any, resulting from future stock issuances.
CY2016Q3 us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2026-09-11
CY2016Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P10Y
CY2019Q3 vir Convertible Preferred Stock Warrant Liability
ConvertiblePreferredStockWarrantLiability
4400000
CY2018Q4 vir Convertible Preferred Stock Warrant Liability
ConvertiblePreferredStockWarrantLiability
1000000.0
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2188000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1449000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6040000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4101000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
97364888
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
80107214

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