Arbutus Biopharma (ABUS) Q3 2024 Earnings Report

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Previous Report: Q2 2024

Next Report: Q4 2024

ABUS Q3 2024 EPS Results

Actual EPS-$0.10

Consensus EPS-$0.09

Beat/MissMissed by -<$0.01

One Year Ago EPS-$0.12

ABUS Q3 2024 Revenue Results

Actual Revenue$1.34M

Expected Revenue$1.86M

Beat/MissMissed by -$521.00K

YoY Revenue Growth-71.25%

Earnings Announcement Details

QuarterQ3 2024

Date11/06/2024

TimeBefore Open

Conference CallWednesday, November 6, 2024

ABUS Upcoming Earnings

Arbutus Biopharma's next earnings date is estimated for November 11, 2026, based on past reporting schedules.

Q3 2024 Earnings Call Audio

ABUS Q3 2024 Earnings Call

0:00 / 0:00

Q3 2024 Earnings Slide Deck

No slide deck is available for this earnings event.

Q3 2024 Earnings Call Summary

Q3 2024

Earnings Call Date:Nov 06, 2024|

% Change Since:

Earnings Call Sentiment|Positive

The earnings call reflects a positive outlook with strong financial positioning and promising clinical trial data for HBV treatments. However, ongoing legal challenges and high operational cash burn present concerns.

Company Guidance

In the third quarter 2024 earnings call for Arbutus Biopharma, the company provided several key metrics and updates on their ongoing efforts to develop a functional cure for chronic hepatitis B (HBV). They reported having approximately $131 million in cash and investments, with a projected cash burn for 2024 between $63 million and $67 million, ensuring their financial runway extends into the fourth quarter of 2026. The company is advancing their RNAi therapeutic imdusiran through Phase IIa trials, IM-PROVE I and II, which have shown promising results, such as a 33% surface antigen loss in Cohort A1 and 67% in patients with baseline antigen levels below 1,000 IU/mL. Moreover, they are progressing with their AB-101 clinical trial, with evidence of dose-dependent receptor occupancy in Phase Ia/Ib, and anticipate reporting preliminary HBV patient data in the first half of next year. The litigation with Moderna and Pfizer/BioNTech is ongoing, with a trial date set for September 2025 and a Markman hearing on December 18, 2024.

Strong Financial Position

Arbutus ended Q3 2024 with $131 million in cash, sufficient to fund operations into Q4 2026. A $44 million net proceeds from common shares issuance offset $54.5 million in operational cash usage.

Promising Clinical Data for Hepatitis B Treatment

Imdusiran showed promising results in reducing surface antigen levels in HBV patients. In Cohort A1 of the IM-PROVE I trial, 33% of patients achieved surface antigen loss sustained at 24 weeks post-treatment, with 67% of those with baseline less than 1,000 IU/mL maintaining loss.

Upcoming Data Presentations

Upcoming presentations at the Liver Meeting 2024 and AASLD will showcase additional data from ongoing HBV trials, indicating continued progress and interest in Arbutus' research.

ABUS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 11, 2026	2026 (Q3)	-0.02 / -	-0.04	―
Aug 12, 2026	2026 (Q2)	-0.02 / -0.03	0.01	-400.00% (-0.04)
May 13, 2026	2026 (Q1)	-0.03 / 0.87	-0.13	769.23% (+1.00)
Mar 23, 2026	2025 (Q4)	-0.04 / -0.01	-0.07	85.71% (+0.06)
Nov 13, 2025	2025 (Q3)	-0.03 / -0.04	-0.1	60.00% (+0.06)
Aug 06, 2025	2025 (Q2)	-0.05 / 0.01	-0.11	109.09% (+0.12)
May 14, 2025	2025 (Q1)	-0.10 / -0.13	-0.1	-30.00% (-0.03)
Mar 27, 2025	2024 (Q4)	-0.08 / -0.07	-0.12	41.67% (+0.05)
Nov 06, 2024	2024 (Q3)	-0.09 / -0.10	-0.12	16.67% (+0.02)
Aug 01, 2024	2024 (Q2)	-0.10 / -0.11	-0.1	-10.00% (>-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed