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Mar 31, 2022
Arbutus Q1 2022 Earnings Report
Arbutus reported its first quarter 2022 financial results and provided a corporate update.
Key Takeaways
Arbutus Biopharma Corporation reported first quarter 2022 financial results, highlighting progress in chronic hepatitis B virus (cHBV) and pan-coronavirus programs, and a strong financial position with a projected cash runway into the second quarter of 2024. Revenues increased significantly due to a license agreement, while the net loss decreased compared to the same period last year.
Advanced efforts to develop a functional cure for hepatitis B and novel treatment options for coronavirus infections.
On track to report data later this year from four clinical trials with chronically infected HBV patients.
IND-enabling studies with oral PD-L1 inhibitor, AB-101, and oral RNA destabilizer, AB-161, are moving forward.
Well-positioned financially with a projected cash runway into the second quarter of 2024.
Forward Guidance
Arbutus expects a net cash burn between $90 to $95 million in 2022, not including the $55 million of proceeds received from Qilu, and believes its cash runway will be sufficient to fund operations into the second quarter of 2024.
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