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Sep 30, 2025
Arbutus Q3 2025 Earnings Report
Arbutus posted a narrower net loss in Q3 2025, supported by reduced operating expenses following restructuring efforts.
Key Takeaways
Arbutus reported a smaller net loss in Q3 2025 due to significant cost reductions in R&D and G&A expenses. Revenue declined slightly year-over-year, and the company maintained a solid cash position of $93.7M to support ongoing HBV programs.
Net loss reduced to $7.7 million compared to $19.7 million in Q3 2024.
Cash and investments stood at $93.7 million as of September 30, 2025.
Revenue declined to $0.5 million due to reduced royalty income.
R&D and G&A costs fell significantly due to restructuring and focus on core programs.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Arbutus aims to extend its cash runway and continue advancing imdusiran development, while facing reduced revenues and ongoing litigation.
Positive Outlook
- Strong cash position of $93.7 million supports operations.
- Operational cost reductions have improved financial flexibility.
- Positive long-term results from imdusiran trials.
- Favorable legal ruling in Pfizer-BioNTech IP litigation.
- Clear focus on clinical advancement of imdusiran and AB-101.
Challenges Ahead
- Revenue decline due to lower ONPATTRO royalties.
- Ongoing legal costs may pressure cash usage.
- Limited revenue sources outside of licensing.
- Uncertainty in upcoming litigation outcomes.
- Potential delays in pipeline development milestones.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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