Arbutus Q1 rev down 47% to $6.7M; files patent suit vs Pfizer/BioNTech; AB-101 IND on hold

Arbutus Biopharma Corp

Q1 revenue $6.7M vs $12.6M YoY; net loss $16.3M ($0.10/shr) vs $15.8M ($0.11) YoY.
Filed patent infringement lawsuit against Pfizer and BioNTech for COVID-19 LNP vaccine technology.
FDA placed AB-101 (oral PD-L1) IND on clinical hold; Phase 1 not initiated, no patients dosed.
Cash $178.5M; burn guidance reduced to $90-95M from $95-100M; runway into Q1 2025.
Dosed first subject in Phase 1 trial for AB-161 (oral RNA destabilizer); data expected H2 2023.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arbutus Biopharma Corp updated its first quarter ended March 31, 2023 guidance (lowered).

Period: first quarter ended March 31, 2023
Guidance: lowered
Result: reported results

Exact text from the filing

On May 4, 2023, Arbutus Biopharma Corporation (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2023 and certain other information.

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Arbutus Biopharma Corp filing history →

Source: SEC EDGAR

accession 0001171843-23-002864

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