Overview

• U.S. biopharma firm's Q1 net product revenue grew 22% yr/yr

• Q1 net loss per share missed analyst expectations

Outlook

• Company anticipates DECLARATION pivotal trial top-line data for VYD2311 in Q3 2026

• Invivyd says cash and cash equivalents expected to provide runway through DECLARATION data readout and support potential VYD2311 launch

Result Drivers

• PEMGARDA REVENUE GROWTH - Co said Q1 revenue increase was driven by continued commercial execution of PEMGARDA even as vaccine uptake waned

• R&D SPENDING - Higher operating expenses attributed to increased contract research costs for DECLARATION pivotal clinical trial for VYD2311

Company press release: ID:nGNX5lz6Mg

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$13.74 mln
Q1 EPS	Miss	-$0.13	-$0.07 (3 Analysts)
Q1 Net Income	Miss	-$41.40 mln	-$16.13 mln (2 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Invivyd Inc is $10.00, about 580.3% above its May 13 closing price of $1.47

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