ACE2

WALTHAM, Mass., April 21, 2025 (GLOBE NEWSWIRE) -- Invivyd, Inc. (Nasdaq: IVVD), a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, today announced that it has signed a $30 million term loan facility with Silicon Valley Bank (SVB), a division of First Citizens Bank. The deal allows for drawdown of capital in the future if certain conditions and milestones are met. “We are pleased to have secured this term loan facility ahead of important anticipated catalysts, including gaining alignment with the FDA on the regulatory pathway of our pipeline candidate, VYD2311,” said Bill Duke, Chief Financial Officer of Invivyd. “The non-dilutive nature of this financing facility supports balance sheet optionality so the company can focus on per-share value creation.” About VYD2311 VYD2311 is a novel monoclonal antibody (mAb) candidate being developed for COVID-19 to continue to address the urgent need for new prophylactic and therapeutic options. The pharmacokinetic profile and antiviral potency of VYD2311 may offer the ability to deliver clinically meaningful titer levels through more patient-friendly means such as an intramuscular route of administration. VYD2311 was engineered using Invivyd’s proprietary integrated technology platform and is the product of serial molecular evolution designed to generate an antibody optimized for neutralizing contemporary virus lineages. VYD2311 leverages the same antibody backbone as pemivibart, Invivyd’s investigational mAb granted emergency use authorization in the U.S. for the pre-exposure prophylaxis (PrEP) of symptomatic COVID-19 in certain immunocompromised patients, and adintrevimab, Invivyd’s investigational mAb that has a robust safety data package and demonstrated clinically meaningful results in global Phase 2/3 clinical trials for the prevention and treatment of COVID-19. About PEMGARDA PEMGARDA™ (pemivibart) is a half-life extended investigational monoclonal antibody (mAb). PEMGARDA was engineered from adintrevimab, Invivyd’s investigational mAb that has a robust safety data package and provided evidence of clinical efficacy in global Phase 2/3 clinical trials for the prevention and treatment of COVID-19. PEMGARDA has demonstrated in vitro neutralizing activity against major SARS-CoV-2 variants, including JN.1, KP.3.1.1, XEC and LP.8.1. PEMGARDA targets the SARS-CoV-2 spike protein receptor binding domain (RBD), thereby inhibiting virus attachment to the human ACE2 receptor on host cells. PEMGARDA (pemivibart) injection (4500 mg), for intravenous use is an investigational mAb that has not been approved, but has been authorized for emergency use by the U.S. FDA under an EUA for the pre-exposure prophylaxis (prevention) of COVID-19 in adults and adolescents (12 years of age and older weighing at least 40 kg) who have moderate-to-severe immune compromise due to certain medical conditions or receipt of certain immunosuppressive medications or treatments and are unlikely to mount an adequate immune response to COVID-19 vaccination. Recipients should not be currently infected with or have had a known recent exposure to an individual infected with SARS-CoV-2. PEMGARDA is not authorized for use for treatment of COVID-19 or post-exposure prophylaxis of COVID-19. Pre-exposure prophylaxis with PEMGARDA is not a substitute for vaccination in individuals for whom COVID-19 vaccination is recommended. Individuals for whom COVID-19 vaccination is recommended, including individuals with moderate-to-severe immune compromise who may derive benefit from COVID-19 vaccinations, should receive COVID-19 vaccination. In individuals who have recently received a COVID-19 vaccine, PEMGARDA should be administered at least 2 weeks after vaccination. Anaphylaxis has been observed with PEMGARDA and the PEMGARDA Fact Sheet for Healthcare Providers includes a boxed warning for anaphylaxis. The most common adverse reactions included systemic infusion-related reactions and hypersensitivity reactions, local infusion site reactions, and infusion site infiltration or extravasation. For additional information, please see the PEMGARDA full product Fact Sheet for Healthcare Providers, including important safety information and boxed warning. To support the EUA for PEMGARDA, an immunobridging approach was used to determine if PEMGARDA may be effective for pre-exposure prophylaxis of COVID-19. Immunobridging is based on the serum virus neutralizing titer-efficacy relationships identified with other neutralizing human mAbs against SARS-CoV-2. This includes adintrevimab, the parent mAb of pemivibart, and other mAbs that were previously authorized for EUA. There are limitations of the data supporting the benefits of PEMGARDA. Evidence of clinical efficacy for other neutralizing human mAbs against SARS-CoV-2 was based on different populations and SARS-CoV-2 variants that are no longer circulating. Further, the variability associated with cell-based EC50 value determinations, along with limitations related to pharmacokinetic data and efficacy estimates for the mAbs in prior clinical trials, impact the ability to precisely estimate protective titer ranges. Additionally, certain SARS-CoV-2 viral variants may emerge that have substantially reduced susceptibility to PEMGARDA, and PEMGARDA may not be effective at preventing COVID-19 caused by these SARS-CoV-2 viral variants. The emergency use of PEMGARDA is only authorized for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of drugs and biological products during the COVID-19 pandemic under Section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or authorization revoked sooner. PEMGARDA is authorized for use only when the combined national frequency of variants with substantially reduced susceptibility to PEMGARDA is less than or equal to 90%, based on available information including variant susceptibility to PEMGARDA and national variant frequencies. About Invivyd Invivyd, Inc. (Nasdaq: IVVD) is a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2. Invivyd deploys a proprietary integrated technology platform unique in the industry designed to assess, monitor, develop, and adapt to create best in class antibodies. In March 2024, Invivyd received emergency use authorization (EUA) from the U.S. FDA for a monoclonal antibody (mAb) in its pipeline of innovative antibody candidates. Visit https://invivyd.com/ to learn more. Cautionary Note Regarding Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “could,” “expects,” “estimates,” “intends,” “potential,” “predicts,” “projects,” and “future” or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements include statements concerning, among other things, expectations related to the company’s term loan facility with SVB; the potential drawdown of capital in the future if certain conditions and milestones are met; the expected benefits of the financing facility; the company’s intention to focus on per-share value creation; anticipated catalysts of the company; the company’s expectation of gaining alignment with the FDA on the regulatory pathway for the company’s next product candidate; the company’s devotion to delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2; and other statements that are not historical fact. The company may not actually achieve the plans, intentions or expectations disclosed in the company’s forward-looking statements and you should not place undue reliance on the company’s forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the company’s actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation: the timing, progress and results of the company’s discovery, preclinical and clinical development activities; how long the EUA granted by the U.S. FDA for PEMGARDA will remain in effect and whether the EUA is revised or revoked by the U.S. FDA; the ability to maintain a continued acceptable safety, tolerability and efficacy profile of any product candidate following regulatory authorization or approval; uncertainties related to the regulatory authorization or approval process, and available development and regulatory pathways; changes in the regulatory environment; the outcome of the company’s engagement with regulators; the company’s ability to maintain and expand sales, marketing and distribution capabilities to successfully commercialize any authorized or approved product candidate; changes in expected or existing competition; the company’s reliance on third parties; the complexities of manufacturing mAb therapies; macroeconomic and political uncertainties; the company’s ability to realize the anticipated benefits of the company’s term loan facility with SVB; the company’s ability to continue as a going concern; and whether the company has adequate funding to meet future operating expenses and capital expenditure requirements. Other factors that may cause the company’s actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (SEC), and in the company’s other filings with the SEC, and in its future reports to be filed with the SEC and available at www.sec.gov. Forward-looking statements contained in this press release are made as of this date, and Invivyd undertakes no duty to update such information whether as a result of new information, future events or otherwise, except as required under applicable law. This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release. Contacts: Media Relations(781) 208-1747media@invivyd.com Investor Relations(781) 208-1747investors@invivyd.com

Achieved Q4 2024 PEMGARDA™ (pemivibart) net product revenue of $13.8 million, representing 48% growth over Q3 2024 net product revenue of $9.3 million; full-year 2024 net product revenue totaled $25.4 million2024 year-end cash and cash equivalents of $69.3 millionContinues to target near-term (by end of 1H 2025) profitability with existing cash and cash equivalents, anticipated growth of net product revenue, and continued reduction of manufacturing expenses Company announced in vitro neutralization data show continued, consistent neutralizing activity of PEMGARDA against LP.8.1, KP.3.1.1, and XEC, comprising the majority of SARS-CoV-2 variants currently circulating in the U.S, reinforcing the durability of PEMGARDA’s neutralizing activity shown amid viral evolutionCompany announced positive Phase 1 clinical data for next-generation program VYD2311, evaluating multiple routes of administration and dose levels for a single dose, including intramuscular injection, for both safety and pharmacokinetics; in vitro neutralization potency of VYD2311 assessed across contemporary SARS-CoV-2 variants tested showed an average 17-fold greater neutralization potency than pemivibart WALTHAM, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Invivyd, Inc. (Nasdaq: IVVD), a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, today announced financial results for the fourth quarter and full year ended December 31, 2024, and recent business highlights. “We are pleased with the significant PEMGARDA™ revenue growth of 48% in the fourth quarter, reflecting increased provider awareness and adoption,” said Bill Duke, Chief Financial Officer of Invivyd. “We look forward to raising further awareness of PEMGARDA in the healthcare community and working to achieve near-term profitability. In parallel, we are advancing VYD2311, our next generation monoclonal antibody that has demonstrated highly promising Phase 1 clinical data and has the potential to offer an improved route of administration to protect vulnerable patient populations from COVID-19.” “With our impressive fourth quarter growth as our catalyst, we began 2025 with a newly transitioned, in-house sales force,” said Tim Lee, Chief Commercial Officer. “Vulnerable patient populations such as cancer patients, those undergoing or living with an organ transplant, and those who are on immunosuppressive therapies are at risk of the short-term and long-term systemic damage of COVID-19. With hospitalizations and deaths from COVID-19 greater than influenza and RSV combined, it’s imperative to keep COVID-19 at the forefront of the minds of vulnerable patients and their healthcare providers – including hematologists, transplant physicians, infectious disease clinicians, rheumatologists and primary care doctors.” Recent Business Highlights PEMGARDA Neutralization Data Updates Continued, neutralization activity of PEMGARDA shown against currently dominant SARS-CoV-2 variants LP.8.1, KP.3.1.1 and XEC, comprising the majority of SARS-CoV-2 variants currently circulating in the U.S. This aligns with Invivyd’s broader clinical and virology data, which have consistently demonstrated structural stability of the targeted epitope of PEMGARDA and prolonged neutralizing activity against contemporary variants.LP.8.1 in vitro neutralization data provided to the U.S. Food and Drug Administration (FDA) Regulatory Developments In February 2025, the FDA declined Invivyd’s request to expand the existing emergency use authorization of PEMGARDA to include treatment of mild-to-moderate COVID-19 for immunocompromised patients who have no alternative therapeutic options. Invivyd has submitted a response requesting that the FDA reconsider and looks forward to meeting to discuss next steps. Partnership & Awareness Campaigns The company announced collaboration with renowned professional football coach Jim Harbaugh to elevate awareness of the ongoing impact of COVID-19 and options available to vulnerable populations. Manufacturing & Supply VYD2311 commercial manufacturing has been substantially completed.Minimal manufacturing expenses expected in 2025, contributing to ongoing cost reductions​. Recent Pipeline Highlights Positive Phase 1 clinical data announced in February 2025 for VYD2311, a next-generation monoclonal antibody for COVID-19 Phase 1 clinical data, combined with antiviral assessment and COVID-19 antiviral correlate of protection data, including Invivyd's Phase 3 CANOPY clinical trial data for pemivibart, support a potentially attractive clinical profile for VYD2311.VYD2311 pooled, blinded adverse events were mild or moderate and thus far deemed unrelated to study drug or largely related to injection site reaction or infusion reactions. In February 2025, the company announced that in vitro neutralization potency of VYD2311 assessed across contemporary SARS-CoV-2 variants tested showed an average 17-fold greater neutralization potency than pemivibart. VYD2311 has also demonstrated stable epitope and clinically meaningful in vitro neutralization against LP.8.1 providing further validation of the company’s integrated technology platform’s potential to produce monoclonal antibodies with broad and durable viral protection along with improved drug properties. Fourth Quarter and Full-Year 2024 Financial Results Revenue: Reported full year 2024 net product revenue of PEMGARDA of $25.4 million. Reported $13.8 million of net product revenue of PEMGARDA in Q4 2024, marking a 48% increase when compared to $9.3 million in Q3 2024.Cash Position: Cash and cash equivalents were $69.3 million as of December 31, 2024.Research & Development (R&D) Expenses: R&D expenses were $137.3 million for the year ended December 31, 2024, compared to $163.6 million (inclusive of in-process R&D) for the comparable period in 2023. This decrease is primarily attributable to lower personnel costs and commercial manufacturing costs of PEMGARDA, partially offset by commercial manufacturing costs of VYD2311 in 2024.Selling, General & Administrative (SG&A) Expenses: SG&A expenses were $63.4 million for the year ended December 31, 2024, compared to $49.1 million for the comparable period in 2023. This increase is primarily attributable to an increase in personnel costs and costs associated with commercialization of PEMGARDA.Net Loss and Net Loss per Share: Net loss was $169.9 million for the year ended December 31, 2024, compared to $198.6 million for the comparable period in 2023. Basic and diluted net loss per share was $1.43 for the year ended December 31, 2024, compared to $1.81 for the comparable period in 2023. About PEMGARDA PEMGARDA™ (pemivibart) is a half-life extended investigational monoclonal antibody (mAb). PEMGARDA was engineered from adintrevimab, Invivyd’s investigational mAb that has a robust safety data package and provided evidence of clinical efficacy in global Phase 2/3 clinical trials for the prevention and treatment of COVID-19. PEMGARDA has demonstrated in vitro neutralizing activity against major SARS-CoV-2 variants, including JN.1, KP.3.1.1, XEC and LP.8.1. PEMGARDA targets the SARS-CoV-2 spike protein receptor binding domain (RBD), thereby inhibiting virus attachment to the human ACE2 receptor on host cells. PEMGARDA (pemivibart) injection (4500 mg), for intravenous use is an investigational mAb that has not been approved, but has been authorized for emergency use by the U.S. FDA under an EUA for the pre-exposure prophylaxis (prevention) of COVID-19 in adults and adolescents (12 years of age and older weighing at least 40 kg) who have moderate-to-severe immune compromise due to certain medical conditions or receipt of certain immunosuppressive medications or treatments and are unlikely to mount an adequate immune response to COVID-19 vaccination. Recipients should not be currently infected with or have had a known recent exposure to an individual infected with SARS-CoV-2. PEMGARDA is not authorized for use for treatment of COVID-19 or post-exposure prophylaxis of COVID-19. Pre-exposure prophylaxis with PEMGARDA is not a substitute for vaccination in individuals for whom COVID-19 vaccination is recommended. Individuals for whom COVID-19 vaccination is recommended, including individuals with moderate-to-severe immune compromise who may derive benefit from COVID-19 vaccinations, should receive COVID-19 vaccination. In individuals who have recently received a COVID-19 vaccine, PEMGARDA should be administered at least 2 weeks after vaccination. Anaphylaxis has been observed with PEMGARDA and the PEMGARDA Fact Sheet for Healthcare Providers includes a boxed warning for anaphylaxis. The most common adverse reactions included systemic infusion-related reactions and hypersensitivity reactions, local infusion site reactions, and infusion site infiltration or extravasation. For additional information, please see the PEMGARDA full product Fact Sheet for Healthcare Providers, including important safety information and boxed warning. To support the EUA for PEMGARDA, an immunobridging approach was used to determine if PEMGARDA may be effective for pre-exposure prophylaxis of COVID-19. Immunobridging is based on the serum virus neutralizing titer-efficacy relationships identified with other neutralizing human mAbs against SARS-CoV-2. This includes adintrevimab, the parent mAb of pemivibart, and other mAbs that were previously authorized for EUA. There are limitations of the data supporting the benefits of PEMGARDA. Evidence of clinical efficacy for other neutralizing human mAbs against SARS-CoV-2 was based on different populations and SARS-CoV-2 variants that are no longer circulating. Further, the variability associated with cell-based EC50 value determinations, along with limitations related to pharmacokinetic data and efficacy estimates for the mAbs in prior clinical trials, impact the ability to precisely estimate protective titer ranges. Additionally, certain SARS-CoV-2 viral variants may emerge that have substantially reduced susceptibility to PEMGARDA, and PEMGARDA may not be effective at preventing COVID-19 caused by these SARS-CoV-2 viral variants. The emergency use of PEMGARDA is only authorized for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of drugs and biological products during the COVID-19 pandemic under Section 564(b)(1) of the Federal Food, Drug, and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or authorization revoked sooner. PEMGARDA is authorized for use only when the combined national frequency of variants with substantially reduced susceptibility to PEMGARDA is less than or equal to 90%, based on available information including variant susceptibility to PEMGARDA and national variant frequencies. About VYD2311 VYD2311 is a novel monoclonal antibody (mAb) candidate being developed for COVID-19 to continue to address the urgent need for new prophylactic and therapeutic options. The pharmacokinetic profile and antiviral potency of VYD2311 may offer the ability to deliver clinically meaningful titer levels through more patient-friendly means such as an intramuscular route of administration. VYD2311 was engineered using Invivyd’s proprietary integrated technology platform and is the product of serial molecular evolution designed to generate an antibody optimized for neutralizing contemporary virus lineages. VYD2311 leverages the same antibody backbone as pemivibart, Invivyd’s investigational mAb granted emergency use authorization in the U.S. for the pre-exposure prophylaxis (PrEP) of symptomatic COVID-19 in certain immunocompromised patients, and adintrevimab, Invivyd’s investigational mAb that has a robust safety data package and demonstrated clinically meaningful results in global Phase 2/3 clinical trials for the prevention and treatment of COVID-19. About Invivyd Invivyd, Inc. (Nasdaq: IVVD) is a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2. Invivyd deploys a proprietary integrated technology platform unique in the industry designed to assess, monitor, develop, and adapt to create best in class antibodies. In March 2024, Invivyd received emergency use authorization (EUA) from the U.S. FDA for a monoclonal antibody (mAb) in its pipeline of innovative antibody candidates. Visit https://invivyd.com/ to learn more. Trademarks are the property of their respective owners. Cautionary Note Regarding Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “could,” “expects,” “estimates,” “intends,” “potential,” “predicts,” “projects,” and “future” or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements include statements concerning, among other things, the company’s goal of near-term profitability; the company’s expectations regarding anticipated net product revenue growth and continued reduction of manufacturing expenses; the future of the COVID-19 landscape and potential impact of COVID-19 on certain patients; the company’s plans to raise further awareness of PEMGARDA in the healthcare community; the company’s ongoing research and development activities, as well as future potential research and development efforts; the ongoing in vitro neutralizing activity of PEMGARDA and VYD2311 against dominant SARS-CoV-2 variants; the potential of PEMGARDA as a mAb for pre-exposure prophylaxis (prevention) of COVID-19 in certain adults and adolescents who have moderate-to-severe immune compromise; the company’s expectations regarding engagement with the FDA; the potential of VYD2311 as a novel mAb candidate that may be able to deliver clinically meaningful titer levels through more patient-friendly means; the company’s devotion to delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2; and other statements that are not historical fact. The company may not actually achieve the plans, intentions or expectations disclosed in the company’s forward-looking statements and you should not place undue reliance on the company’s forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the company’s actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation: uncertainties regarding the company’s expectations, projections and estimates regarding future costs and expenses, future revenue, capital requirements, and the availability of and the need for additional financing; whether the company’s cash and cash equivalents are sufficient to support its operating plan for as long as anticipated; uncertainties regarding market acceptance, payor coverage and reimbursement, or future revenue generated by PEMGARDA; how long the EUA granted by the FDA for PEMGARDA will remain in effect and whether the EUA is revised or revoked by the FDA; the ability to maintain a continued acceptable safety, tolerability and efficacy profile of any product candidate following regulatory authorization or approval; the success of the company’s in-house sales force, and company’s ability to maintain and expand sales, marketing and distribution capabilities to successfully commercialize PEMGARDA; changes in expected or existing competition; changes in the regulatory environment; the outcome of the company’s engagement with regulators; uncertainties related to the regulatory authorization or approval process, and available development and regulatory pathways; the timing, progress and results of the company’s discovery, preclinical and clinical development activities; unexpected safety or efficacy data observed during preclinical studies or clinical trials; the predictability of clinical success of the company’s product candidates based on neutralizing activity in nonclinical studies; the risk that results of nonclinical studies or clinical trials may not be predictive of future results, and interim data are subject to further analysis; potential variability in neutralizing activity of product candidates tested in different assays, such as pseudovirus assays and authentic assays; variability of results in models and methods used to predict activity against SARS-CoV-2 variants; whether the epitope that pemivibart and VYD2311 targets remains structurally intact; whether the company’s product candidates are able to demonstrate and sustain neutralizing activity against major SARS-CoV-2 variants, particularly in the face of viral evolution; whether the company’s integrated technology platform is able to produce mAbs with broad and durable viral protection along with improved drug properties; the company’s reliance on third parties; clinical trial site activation or enrollment rates; the complexities of manufacturing mAb therapies; macroeconomic and political uncertainties; the company’s ability to continue as a going concern; and whether the company has adequate funding to meet future operating expenses and capital expenditure requirements. Other factors that may cause the company’s actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2023 and the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, each filed with the Securities and Exchange Commission (SEC), and in the company’s other filings with the SEC, and in its future reports to be filed with the SEC and available at www.sec.gov. Forward-looking statements contained in this press release are made as of this date, and Invivyd undertakes no duty to update such information whether as a result of new information, future events or otherwise, except as required under applicable law. This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release. Contacts: Media Relations(781) 208-1747media@invivyd.com Investor Relations(781) 208-1747investors@invivyd.com INVIVYD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share and per share amounts) December 31,2024 December 31,2023 Assets Current assets: Cash and cash equivalents $69,349 $200,641 Accounts receivable 10,906 — Prepaid expenses and other current assets 20,426 24,240 Total current assets 100,681 224,881 Inventory, net 25,907 — Property and equipment, net 1,508 1,896 Operating lease right-of-use assets 1,385 2,229 Other non-current assets 34 175 Total assets $129,515 $229,181 Liabilities, Preferred Stock and Stockholders’ Equity Current liabilities: Accounts payable $10,448 $7,953 Accrued expenses(1) 50,197 40,860 Operating lease liabilities, current 1,304 1,443 Other current liability 27 35 Total current liabilities 61,976 50,291 Operating lease liabilities, non-current — 722 Other non-current liability(2) — 700 Total liabilities 61,976 51,713 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (undesignated), $0.0001 par value; 10,000,000 shares authorized and no shares issued and outstanding at December 31, 2024 and December 31, 2023 — — Common stock, $0.0001 par value; 1,000,000,000 shares authorized, 119,835,162 shares issued and outstanding at December 31, 2024; 110,160,684 shares issued and outstanding at December 31, 2023 12 11 Additional paid-in capital 969,526 909,539 Accumulated other comprehensive loss (5) (13)Accumulated deficit (901,994) (732,069)Total stockholders’ equity 67,539 177,468 Total liabilities, preferred stock and stockholders’ equity $129,515 $229,181 (1)Includes related-party amounts of $1,274 and $0 for the years ended December 31, 2024 and 2023, respectively.(2)Includes related-party amounts of $0 and $700 for the years ended December 31, 2024 and 2023, respectively. INVIVYD, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)(In thousands, except share and per share amounts) Year Ended December 31, Year Ended December 31, 2024 2023 Revenue: Product revenue, net $25,384 $— Total revenue 25,384 — Operating costs and expenses: Cost of product revenue(1) 1,618 — Research and development (2) 137,254 158,658 Acquired in-process research and development (3) — 4,975 Selling, general and administrative 63,388 49,125 Total operating costs and expenses 202,260 212,758 Loss from operations (176,876) (212,758)Other income: Other income, net 6,951 14,115 Total other income, net 6,951 14,115 Net loss (169,925) (198,643)Other comprehensive income (loss) Unrealized gain on available-for-sale securities, net of tax 8 259 Comprehensive loss $(169,917) $(198,384)Net loss per share attributable to common stockholders, basic and diluted $(1.43) $(1.81)Weighted-average common shares outstanding, basic and diluted 118,555,073 109,526,053 (1)Includes related-party amounts of $1,027 and $0 for the years ended December 31, 2024 and 2023, respectively.(2)Includes related-party amounts of $4,546 and $8,418 for the years ended December 31, 2024 and 2023, respectively.(3)Includes related-party amounts of $0 and $4,975 for the years ended December 31, 2024 and 2023, respectively.

In this article, we present a comprehensive overview of drugs that received their first global approvals in January 2025, along with an analysis of these therapies. The drugs discussed in this article include small molecules, biologics, and combination drugs that were globally approved for the first time in January 2025. It is important to note that this compilation excludes generic drugs, biosimilars, traditional Chinese medicines, and allergen extracts. For combination drugs, only Type 4 drugs approved by the FDA are included. Additionally, drugs that were first approved as new drugs by the FDA in January 2025 but had previously received approval in other countries are also included in this analysis and are marked with an asterisk (*) for clarity. Which drugs were approved by the FDA?1. Whole Blood and Blood Components Whole Blood and Blood Components, specifically convalescent plasma derived from COVID-19 patients, received approval from the U.S. Food and Drug Administration (FDA) on January 3, 2025. The approval allows the use of high-titer SARS-CoV-2 antibody-containing whole blood-derived convalescent plasma and apheresis-derived convalescent plasma as a treatment for COVID-19 infection. Developed and manufactured by OneBlood, Inc., COVID-19 convalescent plasma is human plasma collected from eligible blood donors by FDA-registered or licensed blood establishments. These donors must have recovered from symptomatic SARS-CoV-2 infection within the past six months and exhibit high levels of anti-SARS-CoV-2 antibodies in their plasma. The plasma’s neutralizing activity is determined based on donor antibody levels assessed through laboratory testing. Specifically, donor samples are evaluated using the GenScript cPass surrogate virus neutralization assay, which measures the inhibition of wild-type receptor-binding domain (RBD) binding to ACE2. The required inhibition rate must be equal to or greater than 80%. This product is indicated for the treatment of COVID-19 in immunocompromised or immunosuppressed patients, particularly those at high risk of severe disease progression in both inpatient and outpatient settings. Convalescent plasma may be contraindicated in patients with a history of severe allergic reactions to plasma transfusion. The generally recommended dose is one unit (approximately 200 mL), with adjustments based on the patient's clinical response and physician’s discretion. During administration, ABO blood type compatibility must be ensured, but Rh(D) compatibility is not required. Additionally, precautions should be taken to prevent container breakage or thawing issues during storage, and standard transfusion safety protocols should be followed to mitigate potential adverse effects and risks. 2. Datopotamab Deruxtecan* Datopotamab deruxtecan is a Trop-2-targeting antibody-drug conjugate (ADC) jointly developed by Daiichi Sankyo and AstraZeneca. On December 27, 2024, Japan approved datopotamab deruxtecan for the treatment of adult patients with unresectable or metastatic hormone receptor-positive (HR+)/HER2-negative breast cancer who have received prior chemotherapy. This marked the drug’s first global marketing authorization. Subsequently, on January 17, 2025, the FDA also approved datopotamab deruxtecan for the treatment of unresectable or metastatic, previously treated HR+/HER2-negative breast cancer in adults. This approval was supported by data from the Phase III TROPION-Breast01 trial, which demonstrated a significant improvement in progression-free survival (PFS) and a reduction in the risk of disease progression or death compared to standard therapy. Datopotamab deruxtecan is designed to precisely target cancer cells expressing the Trop-2 antigen. Trop-2 is a protein widely expressed in various solid tumors, particularly breast and lung cancers. The drug consists of a humanized IgG1 monoclonal antibody conjugated to the potent topoisomerase I inhibitor deruxtecan (DXd). The antibody specifically binds to the Trop-2 antigen, while DXd functions as a cytotoxic chemotherapy agent that is released inside tumor cells, disrupting DNA replication and inducing cancer cell death. These components are linked by a cleavable tetrapeptide linker, ensuring stability in circulation and facilitating targeted drug release within tumor cells, thereby maximizing therapeutic efficacy. Clinical trial results demonstrated that datopotamab deruxtecan provides significant efficacy in treating HR+/HER2-negative advanced breast cancer. In the pivotal Phase III TROPION-Breast01 study, the drug outperformed the standard therapy, docetaxel, in prolonging progression-free survival. With a median follow-up of 10.8 months, the median PFS in the datopotamab deruxtecan group was 6.9 months, compared to 4.9 months in the docetaxel group (HR = 0.63, 95% CI: 0.52–0.76, P < 0.0001), representing a 37% reduction in the risk of disease progression or death. Additionally, datopotamab deruxtecan demonstrated a high objective response rate (ORR), further reinforcing its potential as a novel cancer therapy. The drug also exhibited a favorable safety profile, with a lower incidence of grade ≥3 treatment-related adverse events compared to conventional chemotherapy, contributing to improved patient quality of life. 3. Meloxicam/Rizatriptan The combination drug of meloxicam and rizatriptan, marketed under the brand name Symbravo, received approval from the FDA on January 30, 2025, for the treatment of migraines. This innovative small-molecule drug integrates two distinct mechanisms of action to address migraine symptoms effectively. Developed by Axsome Therapeutics, Inc., meloxicam is a selective cyclooxygenase-2 (COX-2) inhibitor primarily used for pain and inflammation relief. Its high selectivity for COX-2 over COX-1 helps minimize the common gastrointestinal side effects associated with traditional nonsteroidal anti-inflammatory drugs (NSAIDs). By inhibiting the COX-2 enzyme, meloxicam reduces prostaglandin production, thereby alleviating pain. Rizatriptan, on the other hand, is a serotonin 5-HT1D and 5-HT1B receptor agonist, commonly used for the acute treatment of migraine attacks. It works by constricting dilated cerebral blood vessels and preventing the release of calcitonin gene-related peptide (CGRP) from nerve terminals—two key mechanisms believed to be crucial for migraine relief. Additionally, research suggests that rizatriptan may exert effects on the central nervous system, modulating specific receptors involved in pain signal transmission, further enhancing its analgesic efficacy. The uniqueness of AXS-07 lies in its combination of these two active ingredients, aiming to leverage both the anti-inflammatory and analgesic properties of meloxicam and the migraine-specific physiological effects of rizatriptan. This dual-action approach provides a comprehensive treatment strategy, targeting both the pain and inflammation associated with migraines while addressing additional migraine-related symptoms. As a result, Symbravo offers patients more effective relief compared to traditional monotherapies. 4. Suzetrigine Suzetrigine received approval from the FDA on January 30, 2025, as a small-molecule drug for the treatment of moderate to severe acute pain in adults. The drug's uniqueness lies in its selective targeting of the voltage-gated sodium ion channel Nav1.8, a channel specifically expressed in peripheral nociceptive neurons responsible for transmitting pain signals. Developed by Vertex Pharmaceuticals, Inc., Suzetrigine is an X-type sodium channel α-subunit blocker that selectively inhibits Nav1.8 to prevent pain signal transmission. This high selectivity allows Suzetrigine to effectively relieve pain without affecting other types of sodium channels, thereby reducing the risk of side effects. Notably, Suzetrigine's mechanism avoids the addictive potential and adverse effects commonly associated with opioid analgesics, such as respiratory depression and constipation. This makes it a crucial new option for patients seeking non-opioid pain management solutions. In the United States, over 80 million people require medication annually for managing moderate to severe acute pain, highlighting the urgent need for effective and non-addictive pain relief options. The successful development and approval of Suzetrigine mark the first market entry of a pain medication with a novel mechanism in nearly two decades. Clinical trials have demonstrated that Suzetrigine significantly reduced pain scores in patients undergoing abdominoplasty and bunionectomy, with no observed risk of addiction. Suzetrigine represents a breakthrough in acute pain management, offering patients an innovative non-opioid, highly targeted analgesic option. Which drugs were approved by the NMPA?1. Amimestrocel Amimestrocel is a human umbilical cord-derived mesenchymal stem cell (MSC) injection developed by Bosheng Excellence Biotechnology. On January 2, 2025, it received conditional approval from China’s National Medical Products Administration (NMPA) through the priority review and approval process, making it the first stem cell therapy to be approved for marketing in China. Amimestrocel is indicated for the treatment of steroid-refractory acute graft-versus-host disease (aGVHD) with predominant gastrointestinal involvement in patients aged 14 and older. Graft-versus-host disease (GVHD) is a severe complication that may occur after allogeneic hematopoietic stem cell transplantation when donor immune cells recognize the recipient’s body as "foreign" and launch an immune attack. A multicenter, randomized, double-blind, parallel, placebo-controlled Phase II clinical trial demonstrated that, in an intent-to-treat analysis, the MSC group exhibited superior therapeutic efficacy compared to the placebo group on Day 28. Additionally, clinical trial data showed that the therapeutic effects of Amimestrocel injection gradually became evident within an average of two weeks, with significant benefits observed particularly in patients with intestinal involvement. Amimestrocel injection has shown promising efficacy in treating steroid-refractory aGVHD. According to clinical trial data, the treatment demonstrated a gradual therapeutic effect at a median of two weeks. Patients who completed eight infusions, especially those with gastrointestinal involvement, derived significant benefits from MSC therapy. These findings suggest that Amimestrocel may be particularly suitable for patients who have not responded well to conventional second-line treatments. 2. Recaticimab Recaticimab received approval from the NMPA on January 8, 2025, marking its official entry into the Chinese market. Developed by Hengrui Medicine, Recaticimab is a humanized monoclonal antibody specifically targeting proprotein convertase subtilisin/kexin type 9 (PCSK9). PCSK9 primarily influences cholesterol metabolism by promoting the degradation of low-density lipoprotein receptors (LDLRs). Under normal conditions, LDLRs are located on the surface of hepatocytes, where they capture and remove low-density lipoprotein cholesterol (LDL-C) from the bloodstream. However, when PCSK9 binds to LDLRs, it triggers their internalization and subsequent degradation in lysosomes, thereby reducing the liver’s ability to clear LDL-C. Recaticimab specifically binds to PCSK9, preventing its interaction with LDLRs, thereby preserving LDLRs from degradation. This leads to an increased number of LDLRs on the hepatocyte surface, enhancing the body’s ability to clear LDL-C. Recaticimab not only increases the number of LDLRs but also enhances their function. Since LDLRs play a key role in reducing serum LDL-C levels, increasing their quantity and activity is crucial for managing dyslipidemia. Additionally, Recaticimab utilizes "YTE" amino acid mutation technology to optimize its molecular structure, extending its half-life to approximately 27 days, significantly longer than other similar drugs. This allows for longer dosing intervals, such as every 4 or 8 weeks, improving patient adherence by reducing the inconvenience of frequent injections. This extended duration provides a more convenient option for the long-term management of hypercholesterolemia. From a clinical perspective, Phase III clinical trial results demonstrate that Recaticimab significantly reduces LDL-C, total cholesterol (TC), non-high-density lipoprotein cholesterol (non-HDL-C), apolipoprotein B (ApoB), and lipoprotein(a) [Lp(a)], whether used as an adjunct to statins or as monotherapy. Moreover, it exhibits an excellent safety profile. Recaticimab is particularly suitable for patients who have poor responses to statins or are statin-intolerant, including those with primary hypercholesterolemia (both heterozygous familial and non-familial) and mixed dyslipidemia. The approval of Recaticimab brings new hope to the field of cardiovascular disease, offering significant benefits in improving patient quality of life and preventing cardiovascular events. 3. Prusogliptin Prusogliptin received approval from the NMPA in China on January 8, 2025. Developed by CSPC Ouyi Pharmaceutical, Prusogliptin is a novel oral dipeptidyl peptidase-IV (DPP-4) inhibitor designed for the treatment of type 2 diabetes in adults. Its primary mechanism of action involves selectively and potently inhibiting DPP-4, thereby preventing the enzymatic degradation of glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP). These two incretin hormones stimulate pancreatic β-cells to release insulin in response to food intake while simultaneously reducing α-cell secretion of glucagon, helping to regulate blood glucose levels. By inhibiting DPP-4, Prusogliptin prolongs the activity of GLP-1 and GIP, promoting postprandial insulin secretion, enhancing β-cell glucose sensitivity, and reducing unnecessary glucagon secretion, ultimately aiding in maintaining blood glucose levels within a healthier range. Prusogliptin plays a crucial role in increasing the levels of endogenous GLP-1 and GIP. Under normal physiological conditions, these incretin hormones function as "intelligent" regulators of blood glucose, promoting insulin secretion only when glucose levels are elevated while avoiding excess insulin release under normal or low glucose conditions, thereby minimizing the risk of hypoglycemia. Moreover, unlike traditional insulin secretagogues that directly stimulate insulin secretion, Prusogliptin indirectly enhances endogenous GLP-1 function, making it less likely to cause hypoglycemia or lead to weight gain—important advantages for the long-term management of type 2 diabetes. A study led by Peking University First Hospital demonstrated that patients in the Prusogliptin group experienced a significant reduction in glycated hemoglobin (HbA1c) levels compared to the placebo group, confirming its strong glucose-lowering efficacy. Additionally, Prusogliptin is suitable for monotherapy or combination therapy with metformin, making it particularly beneficial for patients who respond poorly to or cannot tolerate metformin. It is indicated for improving glycemic control in adult patients with type 2 diabetes, either as monotherapy or in combination with metformin. Furthermore, Prusogliptin exhibits sustained glucose-lowering effects, a low risk of hypoglycemia, and does not contribute to weight gain. It also has a favorable safety profile, with a low incidence of adverse reactions and minimal drug interactions. Notably, for patients with mild to moderate renal impairment, Prusogliptin does not require dose adjustment, further expanding its eligible patient population. 4. Senaparib Senaparib was approved for market authorization in China on January 14, 2025. As a small-molecule chemical drug, Senaparib primarily targets poly (ADP-ribose) polymerase 1 and 2 (PARP1 and PARP2), exerting its anticancer effects by inhibiting the activity of these enzymes. Developed by IMPACT Therapeutics, Senaparib operates based on the principle of synthetic lethality, playing a crucial role in the repair of single-strand DNA breaks. When these enzymes are inhibited, cancer cells with BRCA mutations or other homologous recombination repair deficiencies (HRD) are less able to effectively repair DNA damage, making them more prone to cell death. As a result, Senaparib is particularly suited for tumors that rely on PARP-mediated DNA repair pathways for survival. According to the NMPA approval, Senaparib is indicated in China for the maintenance treatment of adult patients with advanced epithelial ovarian cancer, fallopian tube cancer, or primary peritoneal cancer following first-line platinum-based chemotherapy. This means that for patients who have achieved complete or partial remission after receiving first-line platinum-based chemotherapy, Senaparib provides a new maintenance treatment option aimed at prolonging progression-free survival and potentially improving overall survival outcomes. The approval of Senaparib is based on the results of the FLAMES study, a randomized, double-blind, placebo-controlled, multicenter Phase III clinical trial. The results demonstrated that, compared to placebo, Senaparib significantly prolonged median progression-free survival (mPFS). Additionally, regardless of BRCA mutation status, patients derived benefits from the treatment. The drug also exhibited good tolerability and a manageable safety profile. 5. Limertinib Limertinib is a novel small-molecule chemical drug that received marketing approval from the NMPA on January 14, 2025. It is a specifically designed inhibitor targeting the epidermal growth factor receptor (EGFR) T790M mutation. As a third-generation EGFR tyrosine kinase inhibitor (EGFR-TKI), Limertinib selectively targets and inhibits EGFR proteins carrying the T790M mutation. This mutation commonly occurs in non-small cell lung cancer (NSCLC) patients who develop resistance after treatment with first- or second-generation EGFR-TKIs. By selectively binding to the EGFR T790M mutation site, Limertinib effectively blocks signal transduction pathways, thereby inhibiting tumor cell proliferation and spread. In a pivotal Phase IIB clinical study, Limertinib demonstrated significant antitumor activity. A total of 301 patients with locally advanced or metastatic NSCLC who had progressed after prior EGFR-TKI therapy and tested positive for the EGFR T790M mutation participated in the study. The results, assessed by an independent review committee (IRC), showed an objective response rate (ORR) of 68.8%, a disease control rate (DCR) of 92.4%, a median duration of response (DoR) of 11.1 months, and a median progression-free survival (PFS) of 11.0 months. Furthermore, for patients with evaluable intracranial lesions, Limertinib also demonstrated promising efficacy, with an IRC-assessed best ORR of 65.9% and a median PFS of 10.6 months, indicating its potential effectiveness against central nervous system (CNS) metastases. Limertinib is indicated for the treatment of adult patients with locally advanced or metastatic NSCLC who have progressed after prior EGFR-TKI therapy and have been confirmed to harbor the EGFR T790M mutation. This indication addresses a critical unmet need in treating resistance caused by specific genetic mutations, offering new hope to affected patient populations. 6. Pegylated Recombinant Human Granulocyte Colony-Stimulating Factor Pegylated recombinant human granulocyte colony-stimulating factor (PEG-rhG-CSF) was approved for marketing in China on January 14, 2025, for the prevention and treatment of chemotherapy-induced neutropenia. Developed by Hangzhou Jiuyuan Gene Engineering, PEG-rhG-CSF is a long-acting biologic drug designed to address chemotherapy-induced neutropenia. This drug is a conjugate of recombinant human granulocyte colony-stimulating factor (rhG-CSF) and polyethylene glycol (PEG), which extends the drug’s half-life in vivo and reduces the frequency of administration. As a CSF-3R (colony-stimulating factor 3 receptor) agonist, PEG-rhG-CSF activates CSF-3R to stimulate the proliferation and differentiation of hematopoietic stem cells and progenitor cells in the bone marrow, leading to an increase in circulating neutrophils and enhancing the body's ability to resist infections. Compared to conventional rhG-CSF, PEG-rhG-CSF offers significant advantages, including prolonged duration of action and reduced injection frequency, which are crucial for improving patient adherence and quality of life. Additionally, the development of this drug addresses the clinical need for efficient, safe, and easy-to-manage treatment options. 7. Efsubaglutide Alfa Efsubaglutide Alfa is an innovative fusion protein drug that was first approved by the NMPA of China on January 24, 2025. Developed by Guangzhou Yinnuo Pharmaceutical, Efsubaglutide Alfa is a glucagon-like peptide-1 receptor agonist (GLP-1RA). It is engineered as a recombinant protein by conjugating the GLP-1 receptor agonist to the Fc fragment of human immunoglobulin G2 (IgG2). This allows it to enhance insulin secretion in a glucose-dependent manner while inhibiting glucagon release, effectively controlling blood glucose levels in adult patients with type 2 diabetes. What sets Efsubaglutide Alfa apart is its ultra-long-acting profile. The drug exhibits higher affinity for the GLP-1 receptor and has a prolonged degradation time in the body, with a half-life of 204 hours. This extended half-life enables a dosing regimen of once weekly or even once every two weeks, significantly improving patient convenience and treatment adherence. Additionally, clinical studies have shown that Efsubaglutide Alfa not only significantly lowers blood glucose levels but also improves lipid profiles, promotes weight loss, and offers potential cardiovascular protective effects. This makes it a comprehensive metabolic management option for patients with type 2 diabetes. Which drugs were approved by the TGA?Garadacimab Garadacimab was first approved in Australia on January 24, 2025, as a novel treatment for hereditary angioedema (HAE). Developed by CSL Behring LLC, Garadacimab is a fully human IgG4 monoclonal antibody specifically designed to target and inhibit activated Factor XII (FXIIa), a key protein in the pathological process of HAE. By targeting and inhibiting FXIIa, the drug prevents excessive activation of the kallikrein-kinin system, thereby reducing the production of bradykinin, which is responsible for HAE symptoms. This mechanism of action provides patients with a long-acting and highly specific prophylactic treatment, significantly reducing the frequency of disease attacks and improving patients' quality of life. Clinical studies, including the VANGUARD trial, have demonstrated that long-term prophylactic treatment with Garadacimab effectively controls acute HAE attacks. Compared to the placebo group, patients receiving Garadacimab reported a higher quality-of-life rating, indicating not only its medical superiority but also its positive impact on patients' overall well-being. Additionally, the drug is administered via subcutaneous injection once every 30 days, greatly enhancing treatment adherence and convenience for patients. The approval of Garadacimab marks a significant advancement in HAE treatment, particularly in the field of prophylactic therapy. Unlike traditional C1 esterase inhibitor replacement therapy or direct blockade of the bradykinin B2 receptor, Garadacimab achieves therapeutic effects by modulating the upstream kallikrein-kinin pathway. This breakthrough not only provides HAE patients with a new treatment option but also showcases the potential of biotechnology in developing targeted therapies for specific molecular pathways. How to obtain the latest research advancements in the field of biopharmaceuticals? In the Synapse database, you can keep abreast of the latest research and development advances in drugs, targets, indications, organizations, etc., anywhere and anytime, on a daily or weekly basis. Click on the image below to embark on a brand new journey of drug discovery!