VIR - Vir Biotechnology loses 5% following Q4 2022 earnings misses

• Vir Therapeutics ( NASDAQ: VIR ) is down 5% in after-hours trading after its Q4 2022 financial results missed on the top and bottom lines .
• Year over year, revenue declined ~94% due to collaboration revenue going to ~$21.6M from ~$809.5M.
• Vir ( VIR ) swung to a net loss of $101.6M in the quarter from net income of $525.3M in the year-ago period (-$0.76 per share, diluted vs $3.92)
• The company did benefit from a 17% year-over-year decline in total operating expenses of to $199.9M.
• Vir ended the year with cash and cash equivalents of ~$848.6M compared to ~$347.8M at the end of 2021.
• Read why Seeking Alpha contributor Michele Pagliaro calls Vir ( VIR ) a buy.

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