Core Insights - Arbutus Biopharma Corporation reported a strong financial position with cash, cash equivalents, and marketable securities totaling $93.7 million as of September 30, 2025, down from $122.6 million at the end of 2024 [7][15] - The company is focused on the development of imdusiran (AB-729) for chronic hepatitis B virus (cHBV) infection, with promising clinical trial results indicating that 46% of Phase 2a patients were able to discontinue all treatment [2][13] - Ongoing litigation against Moderna and Pfizer/BioNTech regarding the use of Arbutus's patented LNP technology is a significant aspect of the company's corporate strategy, with a jury trial scheduled for March 2026 [6][21] Financial Results - Total revenue for Q3 2025 was $0.5 million, a decrease from $1.3 million in Q3 2024, primarily due to reduced license royalty revenues [8][14] - Research and development expenses decreased to $5.8 million in Q3 2025 from $14.3 million in Q3 2024, reflecting cost-saving measures [9][14] - The net loss for Q3 2025 was $7.7 million, or $0.04 per share, compared to a net loss of $19.7 million, or $0.10 per share, in Q3 2024 [11][14] Clinical Development - Imdusiran has shown sustained benefits in chronic hepatitis B patients, with 94% of long-term follow-up patients remaining off all treatment for over two years [2][5] - In Phase 1b trials, 100% of HBV DNA positive patients achieved HBV DNA levels below quantification after 18 weeks of treatment with imdusiran and nucleos(t)ide analogue therapy [5][13] - The company is dedicated to accelerating the development and potential approval of imdusiran, which targets all hepatitis B viral proteins and antigens [18][21] Corporate Updates - The company is actively consulting with Genevant Sciences to protect its intellectual property amid ongoing lawsuits [6][21] - A favorable claim construction ruling was issued in the Pfizer-BioNTech litigation in September 2025, which the company views positively [6] - Arbutus showcased data from its hepatitis B virus programs at AASLD 2025, highlighting beneficial clinical outcomes across all evaluated HBV genotypes [6]

Core Insights - Arbutus Biopharma Corporation reported a strong second quarter in 2025, with total revenue of $10.7 million, significantly up from $1.7 million in the same period in 2024, primarily due to the recognition of previously-deferred revenue following the conclusion of its partnership with Qilu Pharmaceutical [8][11] - The company has strengthened its leadership team by appointing Dr. Roger Sawhney to the Board of Directors and Dr. Harry Janssen to the Scientific Advisory Board, enhancing its expertise in chronic hepatitis B virus (cHBV) programs [2][6] - Arbutus maintains a solid financial position with cash, cash equivalents, and marketable securities totaling $98.1 million as of June 30, 2025, although this is a decrease from $122.6 million at the end of 2024 [7][15] Financial Performance - Total revenue for Q2 2025 was $10.7 million, a $9.0 million increase compared to Q2 2024, attributed to the conclusion of the partnership with Qilu and the recognition of deferred revenue [8][11] - Research and development expenses decreased to $5.5 million in Q2 2025 from $15.6 million in Q2 2024, reflecting cost-saving measures implemented by the company [9] - General and administrative expenses also saw a reduction, falling to $3.3 million in Q2 2025 from $7.5 million in Q2 2024, due to cost-cutting efforts [10] Corporate Developments - The company concluded its strategic partnership with Qilu Pharmaceutical for the development and commercialization of imdusiran in Greater China, regaining global rights for the compound [5][6] - Dr. Harry Janssen's appointment to the Scientific Advisory Board is expected to enhance the company's clinical development efforts in cHBV [2][6] - Anuj Hasija resigned from the Board of Directors to focus on a new role at Vertex Pharmaceuticals, and Dr. Roger Sawhney has been appointed to fill the vacancy [2][6] Legal and Intellectual Property - Arbutus is actively involved in litigation to protect its intellectual property related to its patented LNP technology, with ongoing lawsuits against Moderna and Pfizer/BioNTech [5] - The summary judgment phase of the litigation against Moderna began in July 2025, with a jury trial scheduled for March 2026 [5]