Arbutus reports FY2024 net loss $69.9M; cuts workforce 57%, appoints new CFO

Arbutus Biopharma Corp

Net loss for 2024 was $69.9M ($0.38/share) vs $72.8M ($0.44) in 2023; revenue $6.2M down from $18.1M.
Cash and marketable securities $122.6M at Dec 31, 2024; ATM program terminated.
Workforce reduced by 57% in Q1 2025, retaining 19 employees; expects $11-13M restructuring charge.
Tuan Nguyen appointed CFO effective March 28, 2025, replacing David Hastings; General Counsel and CMO departures.
Moderna U.S. LNP patent trial scheduled for Sept 2025; Pfizer/BioNTech claim construction ruling pending; international lawsuits filed March 2025.

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