Vir Biotechnology is developing therapies for Hepatitis B, with recent data from the MARCH Part B study showing encouraging HBsAg loss rates in a subset of patients treated with doublet and triplet regimens. The company is awaiting crucial functional cure data expected by the second quarter of 2025 to determine the future potential of these treatments.
The MARCH Part B study evaluated the efficacy of tobevibart and elebsiran in patients with Hepatitis B. The 48-week end-of-treatment results demonstrated promising HBsAg loss rates in a subset of patients. However, the overall efficacy varied across participants with different baseline HBsAg levels. The safety profile for both tobevibart and elebsiran was consistent with previous studies, with most adverse events being mild to moderate.
Analyst Perspective
According to Michael Ulz, an analyst at Morgan Stanley, the Hold rating on Vir Biotechnology is based on a combination of factors related to the recent data. While the HBsAg loss rates are encouraging, the overall efficacy and the need for further data on functional cure warrant a cautious approach. Ulz has set a price target of $10.00 for Vir Biotechnology.
The management at Vir Biotechnology has set a benchmark of 20%-30% for the functional cure data, which will be pivotal in determining the future potential of these treatments. Upcoming presentations at the American Association for the Study of Liver Diseases meeting and future study data could further impact the outlook for Vir Biotechnology.
Vir Biotechnology's Pipeline
Vir Biotechnology is focused on developing treatments for infectious diseases, including Hepatitis B. Their technology platforms include antibody, T cell, innate immunity, and siRNA. The company was founded in 2016 and is headquartered in San Francisco, CA.
J.P. Morgan also maintained a Hold rating on Vir Biotechnology's stock, with a price target of $13.00.
