Invivyd, Inc. (IVVD) is a Healthcare stock trading at $0.54 (as of 2026-07-29), with a market capitalization of $158.05M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
The provided sources describe Adagio Therapeutics, Inc. rather than Invivyd, Inc., and no authoritative SEC 10-K Business text for Invivyd was included. As a result, a factual description of Invivyd cannot be generated from the supplied information.
Understand Invivyd, Inc.: how it makes money
Invivyd develops and commercializes antibody-based treatments for infectious diseases, with its lead candidate ADG20 (adintrevimab) in Phase 3 trials for COVID-19, and it also generates net product revenue from PEMGARDA.
Near-term profitability is structurally tied to whether PEMGARDA can produce net product revenue, while a large share of the visible activity centers on advancing clinical programs (Phase 3 enrollment and trial dosing) that may take time to convert into sustained sales.
Revenue by segment (latest quarter)
PEMGARDA
$0.0B
Business quality (Weak): The provided data shows a mix of early commercial signals (PEMGARDA net product revenue, infusion sites) and ongoing clinical execution (Phase 3 cohort enrollment), but the financial picture is highly loss-making and the dataset lacks outcome and detailed cost detail, so confidence is limited.
Bull case
PEMGARDA has measurable commercial traction signals: PEMGARDA Net Product Revenue is listed at 0.01B, with 1,200 Infusion-Offering Sites and 77% reordering accounts as a percentage of infusion-offering sites.
Broad distribution footprint via purchasing channels: The company reports 15,000 Contracted Group Purchasing Organization Care Sites.
Phase 3 ADG20 program is actively enrolling: Canopy Phase Three Cohort A enrollment is 300 and Cohort B enrollment is 450.
Production planning indicator exists for the commercial product: PEMGARDA Doses Contracted for Production is 130,000.
Bear case
Recent period revenue is effectively zero at the whole-company level: Total revenue is shown as 0.0B for the 2026-03-31 period, which increases reliance on converting small current product revenue into durable growth.
Profitability remains severely pressured: Operating margin is -313.9 for the latest period, indicating the company is not close to operating profitability based on the provided figures.
Clinical-stage execution risk remains a core driver: Key operational effort is reflected in Phase 3 cohort enrollment and trial dosing metrics, which can be delayed or may not translate into approvals or meaningful future revenue.
Demand and efficacy could be sensitive to viral variants: The dataset includes an estimated 80% share of CDC-tracked variants with the F456L mutation, implying the environment the therapy targets can change over time.