$IVVD

Invivyd, Inc.

CIK:0001832038|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Revenue:

Total revenue

$ 14,285

$ 11,786

$ 28,029

$ 23,090

Operating costs and expenses:

Cost of product revenue

^[1]

1,273

685

2,305

1,519

Research and development

^[2]

29,367

9,573

60,098

20,214

Selling, general and administrative

29,465

16,588

54,582

33,339

Total operating costs and expenses

60,105

26,846

116,985

55,072

Loss from operations

(45,820)

(15,060)

(88,956)

(31,982)

Other income:

Other income, net

^[3]

1,427

400

3,163

1,033

Total other income, net

1,427

400

3,163

1,033

Net loss

(44,393)

(14,660)

(85,793)

(30,949)

Other comprehensive income (loss)

Unrealized gain (loss), net of tax

(26)

(34)

Comprehensive loss

$ (44,391)

$ (14,686)

$ (85,787)

$ (30,983)

Net loss per share attributable to common stockholders, basic

$ (0.14)

$ (0.12)

$ (0.27)

$ (0.26)

Net loss per share attributable to common stockholders,diluted

$ (0.14)

$ (0.12)

$ (0.27)

$ (0.26)

Weighted-average common shares outstanding, basic

320,435,078

120,016,132

315,082,327

119,950,172

Weighted-average common shares outstanding, diluted

320,435,078

120,016,132

315,082,327

119,950,172

Product revenue

Revenue:

Total revenue

$ 14,285

$ 11,786

$ 28,029

$ 23,090

[1]	Includes related-party amounts of $571 and $1,121 for the three and six months ended June 30, 2026, respectively, and $472 and $924 for the three and six months ended June 30, 2025, respectively (see Note 15).
[2]	Includes related-party amounts of $1,129 and $2,255 for the three and six months ended June 30, 2026, respectively, and $1,140 and $2,268 for the three and six months ended June 30, 2025, respectively (see Note 15).
[3]	Includes interest income of $1,503 and $405 for the three months ended June 30, 2026 and 2025, respectively, and interest income of $3,246 and $1,033 for the six months ended June 30, 2026 and 2025, respectively.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net loss	$ (85,793)	$ (30,949)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	5,592	6,006
Amortization of operating lease right-of-use assets	804	784
Depreciation and amortization expense	348	457
Other non-cash adjustments	7	91
Changes in operating assets and liabilities:
Accounts receivable	2,697	2,091
Inventory	108	(71)
Prepaid expenses and other current assets	(3,728)	4,797
Other non-current assets	(1,066)	18
Accounts payable	(4,248)	7,675
Accrued expenses	1,075	(24,580)
Operating lease liabilities	(532)	(747)
Other current liabilities	19	(2)
Net cash used in operating activities	(84,717)	(34,430)
Cash flows from investing activities:
Purchases of property and equipment	(1,236)	(155)
Net cash used in investing activities	(1,236)	(155)
Cash flows from financing activities:
Proceeds from exercises of stock options	91	105
Proceeds from issuance of common stock under the employee stock purchase plan	255	122
Proceeds from at-the-market offering, net of commissions	19,448	0
Payments for at-the-market offering costs	(219)	(86)
Payments for underwritten public offering costs	(231)	0
Net cash provided by financing activities	19,344	141
Effect of exchange rate changes on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(66,609)	(34,444)
Cash and cash equivalents at beginning of period	226,689	69,349	$ 69,349
Cash and cash equivalents at end of period	160,080	34,905	$ 226,689
Supplemental disclosure of cash flow information
Deferred offering costs in accrued expenses	0	50
Deferred offering costs in accounts payable	96	0
Property and equipment included in accrued expenses	93	0
Property and equipment included in accounts payable	$ 50	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands

Jun. 30, 2026

Dec. 31, 2025

Current assets:

Cash and cash equivalents

$ 160,080

$ 226,689

Accounts receivable, net

^[1]

11,222

13,919

Prepaid expenses and other current assets

10,810

6,859

Total current assets

182,112

247,467

Inventory

25,345

25,499

Property and equipment, net

2,183

1,365

Operating lease right-of-use asset

8,067

2,442

Other non-current assets

1,176

110

Total assets

218,883

276,883

Current liabilities:

Accounts payable

9,486

13,744

Accrued expenses

^[2]

19,855

19,053

Operating lease liabilities, current

1,616

1,314

Other current liability

Total current liabilities

31,028

34,163

Operating lease liabilities, non-current

6,775

1,180

Total liabilities

37,803

35,343

Commitments and contingencies (Note 9)

Stockholders' equity:

Preferred stock (undesignated), $0.0001 par value; 10,000,000 shares authorized and no shares issued and outstanding at June 30, 2026 and December 31, 2025

Common stock, $0.0001 par value; 1,000,000,000 shares authorized, 294,755,090 shares issued and outstanding at June 30, 2026; 281,987,033 shares issued and outstanding at December 31, 2025

Additional paid-in capital

1,221,362

1,196,036

Accumulated other comprehensive loss

(35)

(41)

Accumulated deficit

(1,040,276)

(954,483)

Total stockholders' equity

181,080

241,540

Total liabilities, preferred stock and stockholders' equity

$ 218,883

$ 276,883

[1]	Includes an allowance for doubtful accounts of $199 and $323 as of June 30, 2026 and December 31, 2025, respectively.
[2]	Includes related-party amounts of $576 and $703 as of June 30, 2026 and December 31, 2025, respectively (see Note 15).