Invivyd, Inc. (NASDAQ:IVVD), a biotechnology company specializing in biological products with a current market capitalization of $83.56 million, announced the immediate resignation of Sara Cotter from its Board of Directors and all committees thereof.
With a fiscal year ending on December 31, Invivyd continues its endeavors in the biotech industry under the state of Delaware's incorporation laws. The company has not released further comments on the matter.
In other recent news, Invivyd, Inc. reported steady growth in its third-quarter financial results, despite facing regulatory challenges. The company highlighted an 80% to 90% reduction in symptomatic COVID-19 risk with its antibody, pemivibart, and introduced a new antibody candidate, VYD2311, which began human studies in August 2024. Invivyd's Q3 net product revenue was $9.3 million, with an ending cash balance of $107 million.
The company is aiming for profitability by June 2025 through a strategic restructuring to enhance commercial outreach, primarily serving the immunocompromised community. Invivyd is also in discussions with the FDA regarding the regulatory pathway for VYD2311.
Despite concerns about pemivibart's efficacy against certain SARS-CoV-2 variants, Invivyd remains confident in its clinical data and regulatory pathway for its products.
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