Feb 26, 2026 (PRISM News via COMTEX) --
Vir Biotechnology Inc. (NASDAQ: VIR) shares plunged 16% on Thursday after the company revealed the pricing details of its underwritten public offering. The offering, priced at $8.50 per share, represents a 15% discount compared to Wednesday's closing price of $10.
The clinical-stage biopharmaceutical company is issuing 17,647,058 shares of common stock, aiming to raise $150 million in gross proceeds before accounting for underwriting discounts and commissions. Additionally, Vir Biotechnology has granted underwriters a 30-day option to purchase up to 2,647,058 more shares at the same offering price.
The offering, which is expected to close on February 27, 2026, is subject to standard closing conditions. All shares in this offering are being sold directly by Vir Biotechnology.
Goldman Sachs & Co. LLC, Leerink Partners, Evercore ISI, and Barclays are leading the offering as book-running managers.
Vir Biotechnology specializes in discovering and developing treatments for infectious diseases and cancer. This latest move underscores the company's efforts to secure funding for its ongoing clinical-stage research and development initiatives.
Investors reacted swiftly to the discounted pricing, leading to a sharp decline in the stock's value.
For more investor relations information on Vir Biotechnology please visit www.investor.vir.bio.com.
The post Vir Biotechnology Stock Drops Following Discounted Share Offering appeared first on PRISM MarketView.
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