Vir Biotechnology Inc (NASDAQ:VIR) announced that its shares fell 5.6% on Friday after the company disclosed the departure of Chief Financial Officer Jason O’Byrne. O’Byrne is leaving to pursue another opportunity and will remain with the company through August 3 to ensure a smooth transition, while the board has launched a search for a permanent replacement.
Effective July 23, Brent Sabatini, who has served as Senior Vice President and Chief Accounting Officer since February 2023, was appointed Interim Principal Financial Officer. Sabatini brings more than two decades of finance experience, having previously been Head of Finance at Capsida Biotherapeutics, Inc., and before that holding leadership roles in Accounting, Tax, and Financial Planning & Analysis at Amgen Inc from 2004 to 2021. He is a Certified Public Accountant, holds a B.S. in Accountancy from California State University, Northridge, and an MBA from the University of Michigan’s Stephen M. Ross School of Business.
Chief Executive Officer Marianne De Backer said that Sabatini’s deep institutional knowledge and financial acumen have been instrumental in the company’s strategic business development efforts and the recent public offering, which helped establish a strong cash position for Vir Biotechnology.
Vir Biotechnology is described as a clinical‑stage biopharmaceutical company focused on discovering and developing medicines for serious infectious diseases and cancer. Its pipeline includes programs for chronic hepatitis delta and multiple PRO‑XTEN dual‑masked T‑cell engagers targeting solid‑tumor indications.
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