Invivyd, Inc. (IVVD)

Invivyd, Inc., together with its subsidiaries, engages in the research, development, commercialization, and sale of antibody therapies for the prevention and treatment of viral infectious diseases in the United States. The company offers Pemivibart, a half-life extended investigational monoclonal antibody for the pre-exposure prophylaxis prevention of COVID-19 in adults and adolescents through injection under the PEMGARDA brand. It also develops VYD2311, a monoclonal antibody, which is in Phase III clinical trial for the prevention and treatment of SARS-CoV-2 virus; and VBY329, a monoclonal antibody, which is in pre-clinical trial stage for the prevention and treatment of respiratory syncytial virus and measles in neonates, infants, and children. It has a collaboration agreement with Adimab, LLC for the discovery and optimization of proprietary antibodies. The company was formerly known as Adagio Therapeutics, Inc. and changed its name to Invivyd, Inc. in September 2022. Invivyd, Inc. was incorporated in 2020 and is headquartered in New Haven, Connecticut.

Symbol: IVVD
Exchange: Nasdaq
Sector: Healthcare
Industry: Biotechnology
Market cap: $282.96M
52 week range: 0.53 - 3.07

Valuation

Share price: $0.92 (close of 2026-09-23)
P/E (TTM): -3.10x
Price to book: 1.56x
Price to free cash flow: -2.58x
Enterprise value: $131.28M
Book value per share: $0.61

Price performance

Period	Change
1 day	-4.17%
5 days	+13.58%
1 month	-8.00%
3 months	-2.13%
6 months	-38.26%
Year to date	-62.75%
1 year	-20.69%
3 years	-43.56%
5 years	-98.03%
All time	-95.59%

Profitability and growth

Return on equity: -21.73%
Return on invested capital: -320.32%
Return on assets: -18.96%
Return on capital employed: -22.89%
Gross margin: 92.99%
Net margin: -98.25%
EBITDA margin: -103.99%
Revenue growth: 110.47%
Net income growth: 69.11%
Free cash flow growth: 65.84%

Cash flow and balance sheet

Free cash flow yield (TTM): -38.75%
Current ratio: 5.87x
Net debt to EBITDA: 1.37x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $53.43M
Cost of revenue: $3.75M
Gross profit: $49.68M
EBITDA: $-55.56M
Net income: $-52.49M
Earnings per share: $-0.30
Research and development: $38.31M
Shares outstanding: 172.21M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$53.43M	$49.68M	$-52.49M	$-0.30
2024-12-31	$25.38M	$23.77M	$-169.93M	$-1.43
2023-12-31	-	-	$-198.64M	$-1.81
2022-12-31	-	-	$-241.32M	$-2.23
2021-12-31	-	-	$-226.79M	$-5.32
2021-09-30	-	-	$-143.75M	$-7.06
2021-06-30	-	-	$-83.37M	$-0.66
2021-03-31	-	-	$-38.70M	$0.00

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	92.99%	-98.25%	-21.73%	-320.32%
2024-12-31	93.63%	-669.42%	-251.60%	-
2023-12-31	-	-	-111.93%	-
2022-12-31	-	-	-67.79%	-92.68%
2021-12-31	-	-	-40.64%	-1436.58%
2021-09-30	-	-	0.00%	-
2021-06-30	-	-	0.00%	-
2021-03-31	-	-	0.00%	-