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Mar 31, 2023
Arbutus Q1 2023 Earnings Report
Arbutus reported first quarter 2023 financial results and provided a corporate update.
Key Takeaways
Arbutus Biopharma Corporation reported a total revenue of $6.7 million for the first quarter of 2023, compared to $12.6 million for the same period in 2022. The net loss was $16.3 million, or $0.10 per share, compared to a net loss of $15.8 million, or $0.11 per share, for the same period in 2022. Cash, cash equivalents and investments in marketable securities were $178.5 million as of March 31, 2023.
Advanced pipeline of HBV and coronavirus assets.
Reported data from AB-729 showing low levels of HBsAg and HBV DNA persisting after the last dose.
Dosed first healthy subject in Phase 1 clinical trial with AB-161.
Filed patent infringement lawsuit against Pfizer and BioNTech.
Forward Guidance
Arbutus is reducing its 2023 cash burn guidance from between $95 to $100 million to between $90 to $95 million. The company believes its cash runway will be sufficient to fund operations into the first quarter of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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