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Jun 30, 2021
Arbutus Q2 2021 Earnings Report
Arbutus reported its second quarter 2021 financial results and provided a corporate update.
Key Takeaways
Arbutus Biopharma Corporation reported a net loss attributable to common shares of $22.7 million ($0.23 basic and diluted loss per common share) for the three months ended June 30, 2021. The company had cash, cash equivalents and investments totaling $121.3 million as of June 30, 2021.
Highlighted new data on AB-729 in four abstracts at the EASL International Liver Congress™.
Announced two additional proof-of-concept clinical collaborations to evaluate AB-729 in combination with agents from Vaccitech plc and Antios Therapeutics, Inc.
Announced FDA authorization to proceed with a Phase 2a clinical trial to investigate the safety and anti-viral activity of AB-729 in combination with ongoing nucleos(t)ide analog (NA) therapy and short courses of Peg-IFNα-2a in subjects with chronic HBV.
Presented pre-clinical data for AB-836 at EASL, suggesting the potential for increased efficacy and an enhanced resistance profile.
Arbutus
Arbutus
Forward Guidance
Arbutus expects a productive second half of 2021, including additional data from the ongoing Phase 1a/1b clinical trial with AB-729, initiation of two Phase 2a proof-of-concept clinical trials for AB-729, and initial Phase 1a/1b data from our proprietary oral capsid inhibitor, AB-836. The Company believes its cash, cash equivalents and investments of $121.3 million as of June 30, 2021 are sufficient to fund the Company’s operations through the third quarter of 2022.
Positive Outlook
- Additional data from the ongoing Phase 1a/1b clinical trial with AB-729.
- Initiation of two Phase 2a proof-of-concept clinical trials for AB-729.
- Initial Phase 1a/1b data from our proprietary oral capsid inhibitor, AB-836.
- CTA filing expected in the second half of 2021.
- Another proof-of-concept clinical trial expected in early 2022.
Challenges Ahead
- Anticipated pre-clinical studies and clinical trials may be more costly or take longer to complete than anticipated.
- Arbutus may elect to change its strategy regarding its product candidates and clinical development activities.
- Arbutus may not receive the necessary regulatory approvals for the clinical development of Arbutus’ products.
- Economic and market conditions may worsen.
- The ongoing COVID-19 pandemic could significantly disrupt Arbutus’ clinical development programs.