The following is a summary of the Arbutus Biopharma Corporation (ABUS) Q1 2024 Earnings Call Transcript:
Financial Performance:
Arbutus ended Q1 2024 with cash, cash equivalents, and investments of around $138 million, increasing from $132 million as of December 2023.
They received $21.8 million in net proceeds from the issuance of common shares, offset by $19.3 million of cash used in operations.
An additional $22.4 million was generated in April 2024 from their ATM program.
The estimated net cash burn for 2024 is expected to be within the range of $63 million to $67 million.
Business Progress:
Arbutus initiated the AB-101 Phase 1a/1b clinical trial and the Phase 2a clinical trial with imdusiran and durvalumab aimed at HBV cure.
The company's strategy emphasizes combination therapy, and it's advancing the proprietary oral molecule checkpoint inhibitor AB-101.
End-of-treatment data from multiple trials, including AB-729-201 and 202, are expected throughout 2024.
Arbutus is involved in ongoing LNP patent infringement lawsuits against Moderna and Pfizer/BioNTech, progressing towards an April 2025 trial date.
The company announced the retirement of Co-Founder and Chief Scientific Officer, Dr. Mike Sofia.
Arbutus has been conducting a three-part study on AB-101, and plans to share preliminary end treatment data in the second half of the year.
More details: Arbutus Biopharma IR
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