Invivyd appoints Wave Life Sciences CEO to board of directors

NEW HAVEN, Conn. - Invivyd, Inc. (NASDAQ:IVVD), a biopharmaceutical company with a market capitalization of $226 million and impressive gross profit margins of 93%, has appointed Paul B. Bolno, M.D., to its Board of Directors and as a member of the Compensation Committee, according to a company press release issued Wednesday. According to InvestingPro data, the company’s stock has shown strong momentum with a 161% return year-to-date.

Dr. Bolno currently serves as President and CEO of Wave Life Sciences, a clinical-stage biotechnology company, a position he has held since 2013. He also serves on the Board of Directors of ExpressionEdits and is the Chairman of the Scientific Advisory Group for the Nucleic Acid Therapy Accelerator. InvestingPro analysis shows Invivyd maintains a strong balance sheet with more cash than debt, though analysts note the company is currently burning through cash rapidly.

"I am honored to join the Board of Invivyd, as we share a sense of urgency to keep Americans healthy via our deep commitment to scientific excellence," said Bolno in the statement.

Marc Elia, Chairman of the Board of Invivyd, noted that Bolno’s "extensive experience in leading Wave Life Sciences through rapid pipeline development" would benefit the company.

Invivyd describes itself as a biopharmaceutical company focused on delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2. In March 2024, the company received emergency use authorization from the U.S. FDA for a monoclonal antibody. For deeper insights into Invivyd’s financial health and growth prospects, investors can access comprehensive analysis through the Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with detailed metrics and expert analysis.

The company utilizes a proprietary integrated technology platform designed to assess, monitor, develop, and adapt antibodies. Invivyd states it aims to help populations avoid becoming ill from major viral infectious diseases.

The appointment comes as the company works to advance its pipeline of infectious disease treatments and preventatives, according to the press release. While analysts anticipate sales growth in the current year, InvestingPro data indicates the company is not expected to be profitable this year, with current trading levels aligned with its Fair Value assessment.

In other recent news, Invivyd Inc. announced the successful closure of a public offering, raising approximately $57.5 million in gross proceeds. The offering involved the sale of over 89 million shares of common stock and pre-funded warrants, with the full exercise of the underwriter’s option to purchase additional shares. This financial boost is intended to support Invivyd’s clinical programs. Earlier, Invivyd had priced a $50 million public offering at $0.52 per share, with Cantor serving as the sole book-running manager. In terms of analyst perspectives, H.C. Wainwright reaffirmed its Buy rating for Invivyd, emphasizing the potential of VYD2311, a next-generation monoclonal antibody. This development aligns with FDA guidance for a pivotal Phase 2/3 trial, which could lead to a full biologics license application. Additionally, Invivyd has gained attention as a potential COVID-19 vaccine alternative amid political skepticism towards traditional immunizations. The company recently completed a $58 million financing round, backed by RA Capital and Janus Henderson, further bolstering its position in the biotech sector.

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