Arbutus Q1 2021 Earnings Report
Key Takeaways
Arbutus Biopharma Corporation reported its first quarter 2021 financial results. The company had cash, cash equivalents and investments totaling $132.0 million as of March 31, 2021. Net loss attributable to common shares for the three months ended March 31, 2021 was $19.6 million ($0.21 basic and diluted loss per common share).
Initiated Phase 1a/1b clinical trial of AB-836, an oral capsid inhibitor.
Continued clinical development of AB-729.
Established an innovative collaboration with X-Chem, Inc. and Proteros biostructures GmbH.
Expect continued longer term Phase 1a/1b dosing results for AB-729.
Arbutus
Arbutus
Forward Guidance
Arbutus expects an eventful 2021 including continued longer term Phase 1a/1b dosing results for AB-729; initiation of two Phase 2 proof-of-concept clinical trials for AB-729 with one or more approved or investigational agents; and initial Phase 1a/1b data from our proprietary oral capsid inhibitor, AB-836.
Positive Outlook
- Continued longer term Phase 1a/1b dosing results for AB-729.
- Initiation of two Phase 2 proof-of-concept clinical trials for AB-729 with one or more approved or investigational agents.
- Initial Phase 1a/1b data from our proprietary oral capsid inhibitor, AB-836.
- Additional data from the ongoing Phase 1a/1b clinical trial of AB-729, including 60 mg multi-dose data (dosing interval every 4 and 8 weeks) and 90 mg multi-dose data (dosing interval every 8 weeks), expected in 2Q/2021
- The Company believes its cash, cash equivalents and investments of $132.0 million as of March 31, 2021 are sufficient to fund the Company’s operations through the third quarter of 2022.
Challenges Ahead
- The impact of this pandemic has been, and will likely continue to be, extensive in many aspects of society.
- The pandemic has resulted in and will likely continue to result in significant disruptions to businesses.
- A number of countries and other jurisdictions around the world have implemented extreme measures to try and slow the spread of the virus.
- These measures include the closing of businesses and requiring people to stay in their homes, the latter of which raises uncertainty regarding the ability to travel to hospitals in order to participate in clinical trials.
- While we have been able to progress with our clinical and pre-clinical activities to date, it is not possible to predict if the COVID-19 pandemic will negatively impact our plans and timelines in the future.