Shares of Vir Biotechnology, Inc. (NASDAQ: VIR) tumbled 5.12% in after-hours trading on Wednesday following the release of its second-quarter financial results. The biotechnology company reported earnings that fell short of analyst expectations, disappointing investors and triggering a sell-off.

Vir Biotechnology posted a quarterly loss of $0.80 per share, missing the analyst consensus estimate of a $0.76 loss by 5.68%. While the loss narrowed compared to the same period last year, when the company reported a loss of $1.02 per share, it still failed to meet market expectations. This represents a 21.57% improvement in the company's bottom line year-over-year, but not enough to satisfy Wall Street projections.

Adding to investor concerns, Vir Biotechnology's quarterly sales came in at $1.21 million, significantly below the analyst consensus estimate of $2.38 million. This represents a substantial 49.07% miss on revenue expectations and a worrying 60.52% decrease compared to sales of $3.08 million in the same quarter last year. The considerable decline in revenue likely contributed to the negative market reaction in after-hours trading.