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Arbutus Biopharma
(NASDAQ:ABUS)
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Rating:62Neutral
Price Target:
$5.00
▲(15.74% Upside)
Action:Reiterated
Date:07/17/26
ABUS scores as a mid-range setup driven by a strong, low-leverage balance sheet but held back by persistent negative operating/free cash flow and questions around the sustainability of TTM profitability. Technicals are mildly supportive, valuation appears inexpensive on P/E, and corporate events add upside via settlement proceeds and potential shareholder returns but also underscore dependence on litigation-related cash.
Positive Factors
Low-leverage balance sheet
Extremely low debt versus a sizable equity base provides durable financial flexibility. This conservative capital structure reduces bankruptcy and refinancing risk, supports ongoing R&D spending, and gives management optionality to fund programs or opportunistic capital returns over the next several months.
Negative Factors
Persistent operating cash burn
Ongoing negative operating and free cash flow reflects a structural cash burn typical of pre-revenue biotech. Even with recent settlements, recurring operations do not generate cash, making the company dependent on one-time receipts or future financing to sustain R&D and operations beyond several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low-leverage balance sheet
Extremely low debt versus a sizable equity base provides durable financial flexibility. This conservative capital structure reduces bankruptcy and refinancing risk, supports ongoing R&D spending, and gives management optionality to fund programs or opportunistic capital returns over the next several months.
Read all positive factors
Arbutus Biopharma (ABUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$871.14M
Dividend YieldN/A
Average Volume (3M)2.54M
Price to Earnings (P/E)5.3
Beta (1Y)0.31
Revenue Growth2889.93%
EPS GrowthN/A
CountryUS
Employees19
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.83
Shares Outstanding197,537,700
10 Day Avg. Volume2,490,329
30 Day Avg. Volume2,544,404
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)12.04
Price to Sales (P/S)65.44
P/FCF Ratio-23.25
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.75
Revenue Forecast (FY)$181.20M
Arbutus Biopharma Business Overview & Revenue Model
Company Description
Arbutus Biopharma Corporation, a clinical-stage biopharmaceutical company, develops novel therapeutics for infectious disease in the United States. Its chronic Hepatitis B virus product pipeline comprises Imdusiran, conjugated GalNAc, subcutaneous...
How the Company Makes Money
Arbutus primarily makes money through (1) collaboration and licensing-related payments and (2) investment/other income, rather than recurring product sales, because it is a clinical-stage company. Revenue historically has been driven by recognitio...
Arbutus Biopharma Earnings Call Summary
Earnings Call Date:Nov 06, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
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.Positive Updates
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.
Negative Updates
Limited Advancement in Legal Proceedings
Litigation with Moderna and Pfizer/BioNTech over LNP intellectual property is ongoing, with trial dates set for late 2024 and 2025, indicating prolonged legal battles.
Read all updates
Q3-2024 Updates
Positive
Negative
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.
Read all positive updates
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.Arbutus Biopharma Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
82
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 191.44M | 14.08M | 6.17M | 18.14M | 39.02M | 10.99M |
| Gross Profit | 191.41M | 13.72M | 6.17M | 18.14M | 39.02M | 10.99M |
| EBITDA | 160.85M | -33.04M | -68.40M | -70.99M | -61.86M | -71.64M |
| Net Income | 160.72M | -33.50M | -69.92M | -72.85M | -69.46M | -76.25M |
Balance Sheet | ||||||
| Total Assets | 277.16M | 94.62M | 131.71M | 144.40M | 195.42M | 204.49M |
| Cash, Cash Equivalents and Short-Term Investments | 95.23M | 91.47M | 122.62M | 126.00M | 146.91M | 155.32M |
| Total Debt | 3.91M | 4.19M | 6.12M | 8.72M | 12.55M | 18.91M |
| Total Liabilities | 16.99M | 18.04M | 34.34M | 38.38M | 58.57M | 35.05M |
| Stockholders Equity | 260.18M | 76.58M | 97.37M | 106.02M | 136.85M | 169.44M |
Cash Flow | ||||||
| Free Cash Flow | -34.36M | -39.64M | -65.03M | -86.94M | -35.87M | -68.34M |
| Operating Cash Flow | -34.36M | -39.64M | -64.85M | -85.94M | -35.36M | -67.53M |
| Investing Cash Flow | 6.43M | 15.58M | 22.95M | 50.77M | -74.94M | -12.68M |
| Financing Cash Flow | 14.56M | 5.72M | 52.00M | 30.65M | 31.81M | 137.24M |
Arbutus Biopharma Technical Analysis
Neutral
4.32
Price Trends
4.51
Positive
4.47
Positive
4.45
Positive
Market Momentum
0.02
Positive
46.33
Neutral
9.59
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABUS, the sentiment is Neutral. The current price of 4.32 is below the 20-day moving average (MA) of 4.72, below the 50-day MA of 4.51, and below the 200-day MA of 4.45, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 46.33 is Neutral, neither overbought nor oversold. The STOCH value of 9.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ABUS.
Arbutus Biopharma Risk Analysis
Arbutus Biopharma disclosed 39 risk factors in its most recent earnings report. Arbutus Biopharma reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Arbutus Biopharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $871.14M | 5.29 | 129.32% | ― | 2889.93% | ― | |
60 Neutral | $8.49B | -22.74 | -43.02% | ― | -100.00% | -24.90% | |
52 Neutral | $2.51B | -9.27 | -51.15% | ― | -63.29% | 25.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $923.79M | -13.81 | -28.90% | ― | 68.64% | 50.57% | |
47 Neutral | $873.84M | -3.38 | -161.87% | ― | ― | -6.15% | |
44 Neutral | $1.24B | -4.73 | -45.27% | ― | -72.09% | -754.83% |
* Healthcare Sector Average
ABUS
Arbutus Biopharma
4.52
1.29
39.94%
GERN
Geron
1.44
0.11
8.27%
IMTX
Immatics
9.41
2.96
45.89%
IMNM
Immunome
22.78
11.33
98.95%
PRAX
Praxis Precision Medicines
317.87
260.78
456.79%
SANA
Sana Biotechnology
3.16
-1.98
-38.52%
Arbutus Biopharma Corporate Events
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsLegal Proceedings
Arbutus Biopharma Reshapes Strategy After Moderna Settlement
Positive
Jul 17, 2026
In March 2026, Arbutus, Genevant and Moderna entered a global patent litigation settlement under which Moderna paid a noncontingent lump sum of $950 million, with Arbutus receiving about $178 million on July 8, 2026 including litigation cost reimb...
Business Operations and StrategyShareholder Meetings
Arbutus Biopharma Shareholders Approve New 2026 Incentive Plan
Positive
May 27, 2026
On May 26, 2026, Arbutus Biopharma shareholders approved a new 2026 Omnibus Share and Incentive Plan, authorizing the issuance of 16,300,000 common shares and replacing the company’s 2011 and 2016 equity compensation plans. The plan, previou...
Business Operations and StrategyShareholder Meetings
Arbutus Biopharma Shareholders Approve New 2026 Incentive Plan
Positive
May 27, 2026
On May 26, 2026, Arbutus Biopharma shareholders approved a new 2026 Omnibus Share and Incentive Plan, authorizing the issuance of 16,300,000 common shares and replacing the company’s 2011 and 2016 equity compensation plans. The plan, previou...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.