The following is a summary of the Arbutus Biopharma Corporation (ABUS) Q4 2023 Earnings Call Transcript:
Financial Performance:
Arbutus Biopharma ended 2023 with approximately $132 million of cash, cash equivalents, and investments.
During 2023, $29.9 million of net proceeds were received from issuing common shares, while $85.9 million was used in operations.
In 2024, predicted net cash burn is expected to reduce between $63 million and $67 million.
Strategic decisions in 2023, which include focusing on HBV, have extended the company's cash runway into the first quarter of 2026.
Business Progress:
Arbutus is committed to advancing their hepatitis B virus clinical assets, notably imdusiran and AB-101.
The goal is to increase the cure rate for chronic hepatitis B virus patients to at least 20%.
Preliminary data from ongoing trials are expected to be reported throughout 2024, potentially validating imdusiran's role in a hepatitis B cure.
The company is simultaneously defending its intellectual property in ongoing lawsuits against Moderna and Pfizer-BioNTech.
Multiple clinical trials are in progress, with plans for starting another Phase 2a trial using imdusiran and durvalumab in the first half of the year.
The company's strategy involves re-engaging the FDA with more robust data, developed initially outside the US, followed by initiating phase two trials in the US.
More details: Arbutus Biopharma IR
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