Invivyd reported Q2 2024 financial results, marking its first quarter of commercial revenue following PEMGARDA's FDA emergency use authorization in March 2024. The company generated product revenue of $2.3 million, with an 80% gross margin when accounting for pre-EUA manufacturing costs. Net loss was $47.2 million compared to $50.2 million in Q2 2023.Research and development expenses decreased to $30.3 million from $43.6 million year-over-year, primarily due to reduced manufacturing costs for VYD222, partially offset by increased spending on VYD2311. Selling, general and administrative expenses rose to $21.1 million from $10.1 million, driven by commercialization activities and increased personnel costs.As of June 30, 2024, Invivyd had cash and cash equivalents of $147.9 million. The company raised $39.3 million in net proceeds through a stock offering in February 2024. However, management indicated substantial doubt about the company's ability to continue as a going concern beyond one year without additional funding through revenues or external financing.

Invivyd reported Q2 2024 financial results, marking its first quarter of commercial revenue following PEMGARDA's FDA emergency use authorization in March 2024. The company generated product revenue of $2.3 million, with an 80% gross margin when accounting for pre-EUA manufacturing costs. Net loss was $47.2 million compared to $50.2 million in Q2 2023.Research and development expenses decreased to $30.3 million from $43.6 million year-over-year, primarily due to reduced manufacturing costs for VYD222, partially offset by increased spending on VYD2311. Selling, general and administrative expenses rose to $21.1 million from $10.1 million, driven by commercialization activities and increased personnel costs.As of June 30, 2024, Invivyd had cash and cash equivalents of $147.9 million. The company raised $39.3 million in net proceeds through a stock offering in February 2024. However, management indicated substantial doubt about the company's ability to continue as a going concern beyond one year without additional funding through revenues or external financing.