Invivyd adds venture capitalist Ajay Royan to board

WALTHAM, Mass. - Invivyd, Inc. (NASDAQ:IVVD), a biopharmaceutical company, announced today the addition of Ajay Royan to its Board of Directors. Royan, a venture capitalist known for investing in healthcare, technology, and energy companies, has been influential in steering Invivyd’s focus towards serious viral infectious diseases, starting with COVID-19. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, while analysts expect both sales and net income growth in the current year.

Royan’s investment firm, Mithril, holds a significant amount of Invivyd stock and was instrumental in the 2022 shareholder action that honed the company’s mission. Marc Elia, Chairman of Invivyd’s Board, expressed confidence that Royan’s expertise would be invaluable as the company scales up its medical offerings. The company’s impressive gross profit margin of 94% demonstrates strong operational efficiency, though InvestingPro analysis indicates the stock is currently trading below its Fair Value.

Invivyd has been recognized for rapidly re-establishing monoclonal antibody prevention for COVID-19 and aims to develop scalable, high-value medicines for Americans. The company’s proprietary technology platform is designed to create best-in-class antibodies, transcending traditional vaccination methods to serve vulnerable populations.

In March 2024, Invivyd received emergency use authorization (EUA) from the U.S. FDA for a monoclonal antibody candidate in its pipeline. Royan emphasized the urgency of delivering innovative therapies to those most at risk, including cancer patients, organ transplant recipients, and individuals with immunodeficiencies or on immunosuppressive therapies.

The company’s forward-looking statements indicate its commitment to expanding medical benefits from its core technologies and collaborating with industry partners and the administration to address unmet medical needs. However, these statements also acknowledge the risks and uncertainties inherent in drug development and regulatory processes.

This news is based on a press release statement and provides an overview of Invivyd’s strategic direction and board composition changes. The company continues to focus on addressing the challenges posed by COVID-19 and other viral diseases through its monoclonal antibody technology. For deeper insights into Invivyd’s financial health and growth prospects, InvestingPro subscribers can access comprehensive analysis, including 15+ additional ProTips and a detailed Pro Research Report, part of the platform’s coverage of over 1,400 US equities.

In other recent news, Invivyd Inc. reported that its monoclonal antibody, PEMGARDA, continues to show consistent neutralization against prevalent SARS-CoV-2 variants, as confirmed by in vitro data. Despite this, the U.S. Food and Drug Administration (FDA) declined to expand the Emergency Use Authorization (EUA) for PEMGARDA to include treatment for certain immunocompromised patients with mild-to-moderate COVID-19, maintaining its current use for pre-exposure prophylaxis. Invivyd has also submitted an updated analysis to the FDA to further support the amendment of the EUA for treatment purposes, highlighting the antibody’s higher serum virus neutralizing antibody titers compared to its parent molecule, adintrevimab.

In financial developments, Invivyd pre-announced fourth-quarter revenues of $13.8 million, slightly below the estimated $15.4 million, but reported a stronger cash position of $69.3 million. Analysts at H.C. Wainwright maintained a Buy rating on Invivyd, citing positive Phase 1 data for the company’s next-generation antibody, VYD2311, which targets post-Omicron variants. Additionally, Invivyd faces a potential Nasdaq delisting due to its stock price falling below the required $1.00 minimum bid for 30 consecutive business days, though the company is actively monitoring the situation to regain compliance.

These developments come as Invivyd continues to focus on providing therapeutic options for immunocompromised patients, emphasizing the need for effective COVID-19 treatments. The company’s efforts are underscored by its ongoing collaboration with the FDA and its robust industrial virology initiatives.

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