Invivyd, Inc. (NASDAQ:IVVD) shares gained in the premarket session on Monday after the company disclosed a $30 million term loan facility with Silicon Valley Bank (SVB), a division of First Citizens Bank.

The agreement enables future capital drawdowns upon meeting specific conditions and milestones.

Bill Duke, Chief Financial Officer of Invivyd, said, “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,”

Last month, the company reported an FY24 EPS loss of $(1.43), beating the consensus of $(1.48), and sales of $25.38 million exceeded the street view of $25.15 million.

As of December 31, 2024, cash and cash equivalents stood at $69.3 million.

Invivyd aims to achieve near-term profitability by the end of the fi rst half of 2025, leveraging its existing cash reserves, expected growth in net product revenue, and ongoing reduction in manufacturing costs.

Price Action: IVVD shares are down 0.78% at $0.50 at the last check on Monday.

Read Next:

• FDA Rejects Invivyd’s Request To Expand Emergency Authorization For Preventive COVID-19 Antibody For Immunocompromised Patients

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This article What's Going On With Invivyd Stock On Monday? originally appeared on Benzinga.com

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