Arbutus Q2 2023 Earnings Report
Key Takeaways
Arbutus Biopharma reported a total revenue of $4.7 million for the second quarter of 2023, compared to $14.2 million for the same period in 2022. The net loss for the quarter was $17.1 million, or $0.10 per share, compared to a net loss of $14.2 million, or $0.10 per share, for the same period in 2022. Cash, cash equivalents and investments in marketable securities totaled $163.5 million as of June 30, 2023.
Received regulatory approval in New Zealand to advance AB-101 into a Phase 1 clinical trial.
AB-729 in combination with pegylated interferon alfa-2a was generally well tolerated and appears to result in continued HBsAg declines in some patients.
First patient dosed in additional arm of Phase 2a clinical trial combining imdusiran, VTP-300, NA therapy and nivolumab.
Cash runway into the first quarter of 2025.
Arbutus
Arbutus
Forward Guidance
Arbutus expects its 2023 net cash burn to range from between $90 to $95 million, excluding any proceeds received from their “at the market program”.