Invivyd, Inc. reported a more than doubling of revenue in 2025 to $53.4 million driven by commercial sales of its authorized COVID-19 prophylactic monoclonal antibody, PEMGARDA. Despite this progress, the company incurred a net loss of $52.5 million and negative operating cash flow of $58.1 million due to continued investments in R&D and commercialization. Its next-generation candidate VYD2311 is advancing through Phase 3 trials, representing a future growth opportunity. However, substantial doubt remains regarding Invivyd's ability to continue as a going concern beyond one year without additional capital or achievement of revenue milestones tied to loan agreements. Investors should monitor regulatory updates, clinical progress, and capital raising efforts closely.