Arbutus reports Q3 net loss $17.6M, discontinues AB-836 capsid inhibitor, cash runway into Q2 2024

Arbutus Biopharma Corp

2022-Q3 EPS reported -$0.32 revenue$32,774,000

Net loss $17.6M ($0.12/share) vs $24.2M loss Q3 2021; revenue $6.0M (+$2.7M YoY) on Qilu license income.
Cash, equivalents and investments $190.2M; 2022 net cash burn forecast $90-95M; runway into Q2 2024.
Discontinued AB-836 (oral capsid inhibitor) due to ALT elevations in healthy volunteer arm of Phase 1 trial.
AB-729 off-treatment data: HBsAg and HBV DNA suppressed up to 44 weeks post-therapy; no relapses in 9/9 patients.
On-track to complete IND-enabling studies for AB-161 and AB-101, and nominate pan-coronavirus Mpro candidate by year-end.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arbutus Biopharma Corp reported third quarter ended September 30, 2022 results: revenue $6.0 million, net income $17.6 million, EPS $0.12 per basic and diluted common share.

Period: third quarter ended September 30, 2022
Revenue: $6.0 million
Net income: $17.6 million
EPS: $0.12 per basic and diluted common share
Result: reported results

Exact text from the filing

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. Revenue Total revenue was $6.0 million for the three months ended September 30, 2022 compared to $3.3 million for the same period in 2021. The increase of $2.7 million was due primarily to $2.3 million of revenue

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Source: SEC EDGAR

accession 0001171843-22-007260

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