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Arbutus Biopharma
(NASDAQ:ABUS)
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Rating:62Neutral
Price Target:
$4.50
▼(-13.46% Downside)
Action:Downgraded
Date:10/22/26
The score is driven primarily by improved TTM profitability and a strong, low-debt balance sheet, partly offset by continued negative free cash flow. Technicals are weak (below key moving averages with negative MACD), while valuation appears attractive on a low P/E and corporate events add a positive catalyst from regulatory progress and the announced buyback.
Positive Factors
Low Leverage
Extremely low leverage gives Arbutus financial flexibility and limits debt-servicing pressure while it funds research and development. A conservatively financed balance sheet can provide greater resilience through clinical milestones and reduce dependence on borrowing over the next several quarters.
Negative Factors
Persistent Cash Burn
Negative operating and free cash flow show that Arbutus is not currently self-funding its activities despite reported TTM profitability. Continued cash consumption can require reliance on reserves, licensing receipts, or external financing, limiting flexibility if development spending remains elevated.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Extremely low leverage gives Arbutus financial flexibility and limits debt-servicing pressure while it funds research and development. A conservatively financed balance sheet can provide greater resilience through clinical milestones and reduce dependence on borrowing over the next several quarters.
Read all positive factors
Arbutus Biopharma (ABUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$857.80M
Dividend YieldN/A
Average Volume (3M)6.58M
Price to Earnings (P/E)5.3
Beta (1Y)0.54
Revenue Growth1078.78%
EPS GrowthN/A
CountryUS
Employees19
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.79
Shares Outstanding198,105,740
10 Day Avg. Volume3,194,218
30 Day Avg. Volume6,582,691
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 Cap1.00
Enterprise Value/Revenue4.73
Enterprise Value/Gross Profit4.73
Enterprise Value/Ebitda5.61
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.75
Revenue Forecast (FY)$181.17M
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 Biopharma primarily makes money through (1) collaboration and licensing-related payments and (2) interest and other income on its cash and investments; it has historically had little to no recurring product revenue because its HBV candidat...
Arbutus Biopharma Earnings Call Summary
Earnings Call Date:Nov 06, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 11, 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
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 181.72M | 14.08M | 6.17M | 18.14M | 39.02M | 10.99M |
| Gross Profit | 181.69M | 13.72M | 6.17M | 18.14M | 39.02M | 10.99M |
| EBITDA | 153.17M | -33.04M | -68.40M | -70.99M | -61.86M | -71.64M |
| Net Income | 153.05M | -33.50M | -69.92M | -72.85M | -69.46M | -76.25M |
Balance Sheet | ||||||
| Total Assets | 274.02M | 94.62M | 131.71M | 144.40M | 195.42M | 204.49M |
| Cash, Cash Equivalents and Short-Term Investments | 92.63M | 91.47M | 122.62M | 126.00M | 146.91M | 155.32M |
| Total Debt | 3.63M | 4.19M | 6.12M | 8.72M | 12.55M | 18.91M |
| Total Liabilities | 15.29M | 18.04M | 34.34M | 38.38M | 58.57M | 35.05M |
| Stockholders Equity | 258.73M | 76.58M | 97.37M | 106.02M | 136.85M | 169.44M |
Cash Flow | ||||||
| Free Cash Flow | -24.63M | -39.64M | -65.03M | -86.94M | -35.87M | -68.34M |
| Operating Cash Flow | -24.63M | -39.64M | -64.85M | -85.94M | -35.36M | -67.53M |
| Investing Cash Flow | -10.84M | 15.58M | 22.95M | 50.77M | -74.94M | -12.68M |
| Financing Cash Flow | 17.25M | 5.72M | 52.00M | 30.65M | 31.81M | 137.24M |
Arbutus Biopharma Technical Analysis
Negative
5.20
Price Trends
4.78
Negative
4.65
Negative
4.51
Negative
Market Momentum
-0.18
Positive
36.49
Neutral
57.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABUS, the sentiment is Negative. The current price of 5.2 is above the 20-day moving average (MA) of 4.43, above the 50-day MA of 4.78, and above the 200-day MA of 4.51, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 36.49 is Neutral, neither overbought nor oversold. The STOCH value of 57.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $857.80M | 5.29 | 90.98% | ― | 1078.78% | ― | |
60 Neutral | $327.24M | -1.96 | -64.25% | ― | ― | -29.71% | |
55 Neutral | $312.09M | -3.32 | -46.54% | 1.29% | -82.95% | -49.04% | |
55 Neutral | $1.22B | -5.16 | -106.94% | ― | ― | ― | |
52 Neutral | $339.89M | -4.69 | -61.84% | ― | 0.70% | 44.24% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $431.44M | 37.20 | -0.02% | ― | 125.12% | 98.69% |
* Healthcare Sector Average
ABUS
Arbutus Biopharma
4.21
-0.07
-1.64%
ENTA
Enanta Pharmaceuticals
11.62
0.95
8.90%
ARCT
Arcturus Therapeutics
10.73
-1.27
-10.58%
ASMB
Assembly Biosciences
20.28
-7.22
-26.24%
SLN
Silence Therapeutics
19.66
12.41
171.17%
AVIR
Atea Pharmaceuticals
4.05
0.86
26.96%
Arbutus Biopharma Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
FDA Lifts Clinical Hold on Arbutus’ AB-101
Positive
Oct 22, 2026
On October 22, 2026, Arbutus Biopharma announced that the U.S. Food and Drug Administration lifted the clinical hold on its Investigational New Drug application for AB-101, its proprietary oral PD-L1 inhibitor, allowing additional clinical develop...
Business Operations and StrategyStock BuybackLegal Proceedings
Arbutus Biopharma Announces Major Share Repurchase Tender Offer
Positive
Aug 21, 2026
On August 21, 2026, Arbutus Biopharma announced plans to launch a modified Dutch auction tender offer to repurchase up to US$230 million of its common shares at prices between US$5.00 and US$5.75, funded from cash on hand. The offer was expected t...
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.