Arbutus Biopharma(US:ABUS)2025-11-13 12:31Financial Performance - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $93.7 million, down from $122.6 million as of December 31, 2024[8]. - Total revenue for the third quarter of 2025 was $0.5 million, a decrease of $0.8 million compared to $1.3 million in the same period of 2024, primarily due to a decline in license royalty revenues[9]. - The company's net loss for Q3 2025 was $7.7 million, or a loss of $0.04 per share, compared to a net loss of $19.7 million, or a loss of $0.10 per share, in Q3 2024[12]. - The company reported a total operating expense of $9.2 million for Q3 2025, down from $22.8 million in Q3 2024[16]. Research and Development - Research and development expenses decreased to $5.8 million in Q3 2025 from $14.3 million in Q3 2024, reflecting cost-saving measures[10]. - The company is developing two product candidates: imdusiran (AB-729) and an oral PD-L1 inhibitor (AB-101) for cHBV treatment[24]. - Arbutus Biopharma is focused on developing treatments for chronic Hepatitis B virus (cHBV) infection, addressing a significant unmet medical need affecting over 250 million people globally[22]. - Approximately 1.1 million people die annually from complications related to cHBV infection, highlighting the urgency for effective therapies[23]. Clinical Trials and Outcomes - 46% of Phase 2a patients (48 out of 105) achieved functional cure or remained off nucleos(t)ide analogue therapy for at least 48 weeks after treatment with imdusiran[14]. - 94% of long-term follow-up patients from the imdusiran trials have remained off all treatment for over 58 weeks[14]. - 100% of HBV DNA positive patients in Phase 1b achieved HBV DNA levels below quantification after 18 weeks of treatment with imdusiran and nucleos(t)ide analogue therapy[5]. - The company showcased data from its hepatitis B virus programs at AASLD 2025, highlighting beneficial clinical outcomes across all evaluated HBV genotypes[4]. Legal Matters - The company is actively pursuing litigation against Moderna and Pfizer/BioNTech regarding its patented LNP technology, with a jury trial scheduled for March 2026[6]. - Arbutus is involved in ongoing patent litigation against Moderna and Pfizer/BioNTech regarding its patented LNP technology used in COVID-19 vaccines[24]. Risks and Uncertainties - The company has made numerous assumptions regarding the effectiveness and timeliness of clinical trials, which are subject to significant uncertainties[26]. - Known risk factors include potential delays and increased costs in clinical trials, which may affect the development of product candidates[26]. - Arbutus plans to reduce its net cash burn and workforce, which may impact its operating results and investor perceptions[26]. - The company emphasizes the importance of regulatory approvals for its product candidates in the clinical development process[26]. - Arbutus' forward-looking statements are subject to various risks and uncertainties, which could lead to materially different outcomes[27]. - The company disclaims any obligation to update forward-looking statements unless required by law[27].