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SAN FRANCISCO - Vir Biotechnology, Inc. (NASDAQ:VIR), a biotechnology company with a market capitalization of $706 million and strong liquidity position, announced Wednesday it has enrolled the first participant in ECLIPSE 3, completing the initiation of all three trials in its registrational program for chronic hepatitis delta (CHD). According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a robust current ratio of 6.79x.
ECLIPSE 3, a Phase 2b trial, will compare the combination therapy of tobevibart and elebsiran to bulevirtide in patients with CHD. The trial aims to provide supportive data for access and reimbursement in key markets.
The ECLIPSE program consists of three clinical trials. ECLIPSE 1 and ECLIPSE 2 are Phase 3 trials designed to provide registrational efficacy and safety data for potential regulatory submissions. ECLIPSE 3 will specifically enroll patients who have never received bulevirtide, with participants randomized 2:1 to receive either the combination therapy or bulevirtide. While the company advances its clinical programs, analysts maintain a positive outlook, with InvestingPro reporting five analysts revising their earnings estimates upward for the upcoming period. For deeper insights into Vir’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
CHD is described as the most severe form of chronic viral hepatitis, with patients rapidly progressing to cirrhosis, liver failure and liver-related death. Currently, no treatments are approved in the U.S. and options are limited globally.
The combination therapy has received Breakthrough Therapy and Fast Track designations from the FDA, along with Priority Medicines and orphan drug status from the European Medicines Agency.
Tobevibart is a monoclonal antibody targeting hepatitis B surface antigen, while elebsiran is a small interfering RNA designed to degrade hepatitis B virus RNA transcripts. Both are administered subcutaneously.
"We are encouraged by the high rates of viral suppression demonstrated by the combination of tobevibart and elebsiran in our Phase 2 SOLSTICE study," said Mark Eisner, Chief Medical Officer at Vir Biotechnology, according to the company’s press release.
The primary endpoint in ECLIPSE 3 will measure hepatitis delta virus RNA at the lower limit of quantification target not detected at Week 48. Despite the stock’s significant decline of over 50% in the past six months, InvestingPro analysis suggests the company is currently undervalued. Discover more valuable insights about Vir and other biotech opportunities through InvestingPro’s extensive financial metrics and expert analysis covering over 1,400 US stocks.
In other recent news, Vir Biotechnology reported its first-quarter 2025 financial results, which showed a slight miss in earnings per share (EPS) forecasts and a significant shortfall in revenue projections. The company’s EPS was reported at -$0.88, compared to an expected -$0.87, while revenue was $3.03 million, well below the anticipated $13.65 million. Additionally, H.C. Wainwright adjusted its price target for Vir Biotechnology shares to $15 from the previous $110, maintaining a Buy rating. This adjustment followed the Phase 2 MARCH study on chronic hepatitis B virus treatment, which did not meet the necessary functional cure thresholds for advancing to a Phase 3 trial. Despite this, analysts remain optimistic about Vir’s work in other areas, particularly its chronic hepatitis delta virus treatment. The company recently enrolled the first participant in its ECLIPSE 2 Phase 3 trial for hepatitis delta virus. In another development, Vir Biotechnology dosed the first patient in a Phase 1 trial for its EGFR-targeted cancer therapy. These ongoing trials highlight the company’s focus on advancing its pipeline in various therapeutic areas.
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