Arbutus Reports First Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Arbutus Biopharma has reported that imdusiran combination therapy has functionally cured eight patients with chronic hepatitis B (cHBV), including two patients who did not receive interferon [1][2] - The company has a strong financial position with cash, cash equivalents, and marketable securities totaling $113 million as of March 31, 2025 [1][9] - Andrew J. Sung has joined Arbutus as General Counsel, bringing over $28 billion in life sciences deal experience [1][8] Clinical Developments - Imdusiran (AB-729) has shown promising results, with eight patients achieving functional cure, particularly notable as two did not receive interferon [2][6] - The oral PD-L1 inhibitor AB-101 demonstrated 100% receptor occupancy in 11 of 13 evaluable healthy volunteers during Phase 1a/1b trials, indicating its safety and tolerability [3][10] - Data presented at the EASL Congress 2025 highlighted that patients with baseline HBsAg <1000 IU/mL had a significant chance of achieving functional cure when treated with imdusiran and low-dose nivolumab [6][22] Financial Performance - For Q1 2025, total revenue was $1.8 million, an increase from $1.5 million in Q1 2024, attributed to revenue recognition from a collaboration with Qilu [10][11] - Operating expenses for Q1 2025 were $27.5 million, with research and development expenses decreasing to $9.0 million from $15.4 million in the same period last year [12][15] - The net loss for Q1 2025 was $24.5 million, compared to a net loss of $17.9 million in Q1 2024, reflecting increased restructuring costs [15][20] Corporate Updates - The company is actively involved in litigation regarding its patented LNP technology against Moderna and Pfizer/BioNTech, seeking fair compensation for their use of this technology [9][10] - Andrew J. Sung's appointment as General Counsel is expected to enhance the company's legal strategy and corporate governance [4][8] - Arbutus continues to streamline its operations, focusing on advancing clinical development while reducing workforce and operational costs [12][14]