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Sep 30, 2022
Arbutus Q3 2022 Earnings Report
Advanced pipeline of clinical and preclinical programs in support of developing a functional cure for patients with chronic hepatitis B virus (cHBV) and to treat COVID-19 and future coronavirus outbreaks.
Key Takeaways
Arbutus Biopharma Corporation reported a total revenue of $6.0 million for the third quarter of 2022, compared to $3.3 million for the same period in 2021. The net loss attributable to common shares was $17.6 million, or a loss of $0.12 per basic and diluted common share, as compared to a net loss attributable to common shares of $24.2 million, or a loss of $0.24 per basic and diluted common share, for the three months ended September 30, 2021.
Reported at AASLD off-treatment data which showed that AB-729 treatment results in long-lasting control of HBV biomarker levels.
Believe that AB-729 can be a cornerstone agent in a potential curative combination treatment for cHBV based on the body of data supporting its impact on HBV markers and immune activation properties, safety profile and convenient dosing schedule.
On-track to achieve remaining 2022 milestones including reporting data from Phase 2 clinical trial evaluating AB-729 with interferon, completing IND-enabling studies with AB-161, and AB-101, and nominating a compound that inhibits the SARS-CoV-2 nsp5 main protease and has pan-coronavirus inhibitor properties.
Financially strong with a projected cash runway into the second quarter of 2024.
Forward Guidance
The Company 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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