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Arbutus Biopharma (Nasdaq: ABUS) announced that it will present data on its RNAi therapeutic, imdusiran (AB-729), at the EASL Congress 2024 from June 5-8 in Milan. Two abstracts were accepted for presentation. The first discusses the effects of imdusiran combined with pegylated interferon alfa-2a on HBeAg-negative chronic HBV patients, showing a 28% HBsAg loss in certain subjects. The second presents findings on imdusiran in combination with VTP-300, demonstrating better maintenance of lower HBV surface antigen levels compared to imdusiran alone. Both studies highlighted the safety and efficacy of imdusiran. Additional data will be shared at the conference and subsequently on Arbutus' website.
Whitefort Capital, a long-term investor and the second largest shareholder of Arbutus Biopharma (NASDAQ: ABUS), published an open letter to shareholders on May 17, 2024, outlining strategies to maximize shareholder value. Whitefort emphasizes that Arbutus' patent infringement claims against Moderna and Pfizer/BioNTech could be worth billions, urging the company to halt further share issuances to prevent dilution. They also recommend a strategic review of Arbutus' Hepatitis B Virus (HBV) portfolio by year-end, including potential licensing and collaborations. Whitefort plans to vote against proposed share increases in the company’s incentive plan, citing substantial historical dilution and unnecessary new share authorization. The company’s litigation claims, cash reserves, and upcoming clinical trial data are key focal points for future strategic decisions.
Arbutus Biopharma (Nasdaq: ABUS) will participate in two upcoming investor conferences in New York. The management team will engage in one-on-one meetings at The Citizens JMP Life Sciences Conference on May 14, 2024, and at C. Wainwright 2nd Annual BioConnect Investor Conference on May 20, 2024. Investors can access the live webcast of the fireside chats on the company's website.
Arbutus Biopharma reported its first quarter 2024 financial results and corporate update, highlighting progress in advancing its HBV assets, particularly imdusiran and AB-101. The company has a strong financial position with expected cash runway extended through the second quarter of 2026. End-of-treatment data from Phase 2a combination clinical trials with imdusiran will be presented at the EASL Congress in June 2024. Court ruling in the ongoing patent infringement lawsuit against Moderna was in favor of Arbutus. The company's revenue declined in Q1 2024 compared to the same period in 2023, primarily due to lower license revenue and royalties. Despite an increase in operating expenses, including research and development costs, the net loss for Q1 2024 was $17.9 million.
Arbutus Biopharma announced the retirement of Dr. Michael Sofia, its Chief Scientific Officer, effective December 31, 2024. Dr. Sofia, a renowned antiviral drug discovery scientist, co-founded the company and played a important role in developing potential cures for chronic HBV. The company expressed gratitude for his contributions and emphasized its commitment to continue clinical development under new leadership.
