{"success":true,"data":{"pressRelease":{"id":"33254","rtpr_id":"nGNX26HPpf","ticker":"ABUS","exchange":"NASDAQ","all_tickers":["ABUS"],"title":"Arbutus Reports First Quarter 2026 Financial Results and Provides Corporate Update","author":"Globe Newswire","published_at":"2026-05-13T11:30:00.766Z","article_body":"Q1 total revenue of $179.1M includes estimated license revenue from Genevant\nrelated to litigation settlement with Moderna\n\nStrong financial position with cash, cash equivalents and marketable\nsecurities of $95.2M as of March 31, 2026\n\nFDA granted Fast Track designation to imdusiran, which has the potential to\nfacilitate development and accelerate FDA review\n\nWARMINSTER, Pa., May 13, 2026 (GLOBE NEWSWIRE) -- Arbutus Biopharma\nCorporation (Nasdaq: ABUS) (“Arbutus” or the “Company”), a\nclinical-stage biopharmaceutical company focused on infectious disease, today\nreported first quarter 2026 financial results and provided a corporate update.\n\nLNP Litigation\n* On March 3, 2026, Arbutus, along with its exclusive licensee, Genevant\nSciences (“Genevant”), entered into a settlement agreement to resolve all\nglobal patent infringement litigation and patent revocation proceedings\ninvolving Moderna. As part of the settlement, Moderna will pay Arbutus and\nGenevant $950 million upfront in July 2026 (the “Noncontingent Settlement\nPayment”) and an additional $1.3 billion contingent upon an appellate ruling\nthat 28 U.S.C. §1498 does not bar Arbutus’ and Genevant’s claims against\nModerna for patent infringement, except as to doses characterized by the\ndistrict court as having gone to U.S. government employees. Under the\nCompany’s license with Genevant, the Company expects to receive in July 2026\nan estimated $178.7 million of the Noncontingent Settlement Payment, which\nincludes reimbursement of the Company’s litigation costs. In addition, the\nCompany owns approximately 16% of the outstanding common equity of Genevant.\nFor more information about the terms and conditions of the settlement with\nModerna, including the contingent payment, please refer to Arbutus’\nQuarterly Report on Form 10-Q to be filed with the SEC on May 13, 2026 and\nAnnual Report on Form 10-K filed with the SEC on March 23, 2026.\nCorporate Updates\n* In April 2026, the U.S. Food and Drug Administration (“FDA”) granted\nFast Track designation for imdusiran for the treatment of chronic hepatitis B.\nThe FDA’s Fast Track program is designed to facilitate the development and\nexpedite the review of investigational therapies to treat serious conditions\nwith unmet medical need. A drug granted Fast Track designation may be eligible\nfor several benefits, including earlier and more frequent meetings and\ncommunications with the FDA and the potential for rolling review of its\napplication. If relevant criteria are met, investigational therapies that\nreceive Fast Track designation may also qualify for Accelerated Approval or\nPriority Review of a Biologics License Application or New Drug Application.\nFinancial Results\n\nCash, Cash Equivalents and Investments\n\nAs of March 31, 2026, the Company had cash, cash equivalents and investments\nin marketable securities of $95.2 million compared to $91.5 million as of\nDecember 31, 2025. During the three months ended March 31, 2026, the Company\nused $8.1 million in operating activities, which included one-time payments\nrelated to its restructuring efforts, and received $11.5 million of proceeds\nfrom the exercise of stock options.\n\nRevenue\n\nTotal revenue was $179.1 million for the quarter ended March 31, 2026,\ncompared to $1.8 million for the same period in 2025. The increase of $177.4\nmillion was due to license revenue from Genevant related to the Company’s\nportion of the Noncontingent Settlement Payment.\n\nOperating Expenses\n\nResearch and development expenses were $4.1 million for the quarter ended\nMarch 31, 2026, compared to $9.0 million for the same period in 2025. The\ndecrease of $4.8 million was due primarily to cost savings from the\nCompany’s decisions to reduce its workforce and discontinue in-house\nscientific research, as well as lower clinical trial costs as studies neared\ncompletion.\n\nGeneral and administrative expenses were $5.9 million for the quarter ended\nMarch 31, 2026, compared to $5.8 million for the same period in 2025. This\nincrease was due primarily to higher legal fees driven by the settlement with\nModerna, partially offset by cost-cutting efforts by the Company, which drove\nreductions in employee compensation-related expenses.\n\nThere were no restructuring costs in the quarter ended March 31, 2026,\ncompared to $12.4 million for the same period in 2025.\n\nNet Income/Loss\n\nFor the quarter ended March 31, 2026, the Company’s net income was $169.7\nmillion, or income of $0.88 per basic and $0.87 per diluted common share, as\ncompared to a net loss of $24.5 million, or a loss of $0.13 per basic and\ndiluted common share, for the quarter ended March 31, 2025.\n\nOutstanding Shares\n\nAs of March 31, 2026, the Company had 196.9 million common shares issued and\noutstanding, as well as 9.7 million stock options and unvested restricted\nstock units outstanding.\n\n UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND LOSS                                                 \n (in thousands, except share and per share data)                                                                \n                                                                                                                \n                                                   Three Months Ended March 31,                                 \n                                                          2026                              2025                \n Revenue                                                                                                        \n Collaborations and licenses                       $      204                        $      1,316               \n License revenue from Genevant                            178,741                           —                   \n Non-cash royalty revenue                                 181                               448                 \n Total revenue                                            179,126                           1,764               \n Operating expenses                                                                                             \n Research and development                                 4,120                             8,959               \n General and administrative                               5,889                             5,832               \n Change in fair value of contingent consideration         209                               299                 \n Restructuring costs                                      —                                 12,373              \n Total operating expenses                                 10,218                            27,463              \n Income (loss) from operations                            168,908                           (25,699      )      \n Other income                                                                                                   \n Interest income                                          815                               1,197               \n Interest expense                                         (17          )                    (28          )      \n Foreign exchange (loss) gain                             (11          )                    4                   \n Total other income                                       787                               1,173               \n Net income (loss)                                 $      169,695                    $      (24,526      )      \n Net income (loss) per common share                                                                             \n Basic                                             $      0.88                       $      (0.13        )      \n Diluted                                           $      0.87                       $      (0.13        )      \n Weighted average number of common shares                                                                       \n Basic                                                    193,768,641                       190,707,085         \n Diluted                                                  195,214,067                       190,707,085         \n\n\n\n                                                                                                                \n UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)                                                 \n                                                                                                                \n                                                                           March 31,          December 31,      \n                                                                           2026               2025              \n Cash, cash equivalents and marketable securities, current                 $       95,226     $        91,471   \n License receivable from Genevant                                                  178,741             —        \n Accounts receivable and other current assets                                      3,044               2,985    \n Total current assets                                                              277,011             94,456   \n Property and equipment, net of accumulated depreciation and impairment            22                  32       \n Other non-current assets                                                          131                 130      \n Total assets                                                              $       277,164    $        94,618   \n                                                                                                                \n Accounts payable and accrued liabilities                                  $       4,474      $        5,459    \n Lease liability, current                                                          631                 547      \n Total current liabilities                                                         5,105               6,006    \n Liability related to sale of future royalties                                     3,278               3,442    \n Contingent consideration                                                          8,604               8,395    \n Lease liability, non-current                                                      —                   199      \n Total stockholders’ equity                                                        260,177             76,576   \n Total liabilities and stockholders’ equity                                $       277,164    $        94,618   \n\n\n\n                                                                                                                             \n UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                   \n (in thousands)                                                                                                              \n                                                                                                                             \n                                                                       Three Months Ended March 31,                          \n                                                                              2026                           2025            \n Net income (loss)                                                     $      169,695                 $      (24,526  )      \n Non-cash items                                                               1,061                          5,866           \n License receivable from Genevant                                             (178,741  )                    —               \n Other changes in working capital                                             (125      )                    5,269           \n Net cash used in operating activities                                        (8,110    )                    (13,391  )      \n Net cash provided by investing activities                                    2,199                          11,349          \n Net cash provided by financing activities                                    11,619                         2,784           \n Effect of foreign exchange rate changes on cash and cash equivalents         (10       )                    4               \n Increase in cash and cash equivalents                                        5,698                          746             \n Cash and cash equivalents, beginning of period                               18,008                         36,330          \n Cash and cash equivalents, end of period                                     23,706                         37,076          \n Investments in marketable securities                                         71,520                         75,631          \n Cash, cash equivalents and marketable securities, end of period       $      95,226                  $      112,707         \n\n\n\nAbout Imdusiran (AB-729)  \n\nImdusiran is an RNAi therapeutic specifically designed to reduce all hepatitis\nB viral proteins and antigens, including hepatitis B surface antigen\n(“HBsAg”), which is thought to be a key prerequisite to enable reawakening\nof a patient’s immune system to control the virus. Imdusiran targets\nhepatocytes using Arbutus’ novel covalently conjugated N-Acetylgalactosamine\ndelivery technology enabling subcutaneous delivery. In Arbutus’ Phase 2a\nclinical trials, eight patients with chronic hepatitis B (“cHBV”) achieved\nfunctional cure following treatment with imdusiran and nucleos(t)ide analogue\n(“NA”) therapy in combination with either pegylated interferon alfa-2a or\nlow dose nivolumab plus an immunotherapeutic, with six out of the eight\npatients continuing to sustain functional cure for over two years. An\nadditional 41 patients across the Company’s Phase 2a clinical trials were\nable to remain off NA therapy for at least 48 weeks during their Phase 2a\nclinical trials following treatment with imdusiran. Two additional patients\nwho discontinued NA therapy in their Phase 2a clinical trials have now\nachieved functional cure during their participation in long-term follow-up.\nFunctional cure is defined as sustained HBsAg seroclearance and hepatitis B\nvirus deoxyribonucleic acid (“HBV DNA”) less than the lower limit of\nquantification after 24 weeks off treatment, with or without anti-hepatitis B\nsurface antibodies. Clinical data generated thus far has shown imdusiran to be\ngenerally safe and well-tolerated, while also providing meaningful reductions\nin HBsAg and HBV DNA.\n\nAbout HBV  \n\nHepatitis B is a potentially life-threatening liver infection caused by\nhepatitis B virus (“HBV”). HBV can cause chronic infection which leads to\na higher risk of death from cirrhosis and liver cancer. cHBV infection\nrepresents a significant unmet medical need. The World Health Organization\nestimates that over 250 million people worldwide suffer from cHBV infection,\nwhile other estimates indicate that approximately 2 million people in the\nUnited States suffer from cHBV infection. Approximately 1.1 million people die\nevery year from complications related to cHBV infection despite the\navailability of effective vaccines and current treatment options.\n\nAbout Arbutus  \n\nArbutus Biopharma Corporation (Nasdaq: ABUS) is a clinical-stage\nbiopharmaceutical company focused on infectious disease. The Company is\ncurrently developing imdusiran (AB-729) and an oral PD-L1 inhibitor (AB-101)\nfor the treatment of cHBV infection. The Company is also consulting closely\nwith and supporting its exclusive licensee, Genevant Sciences, to protect and\ndefend its intellectual property, which is the subject of an on-going lawsuit\nagainst Pfizer/BioNTech for use of Arbutus’ patented LNP technology in their\nCOVID-19 vaccines. For more information, visit www.arbutusbio.com.\n\nForward-Looking Statements and Information\n\nThis press release contains forward-looking statements within the meaning of\nthe Section 27A of the Securities Act of 1933 and Section 21E of the\nSecurities Exchange Act of 1934, and forward-looking information within the\nmeaning of Canadian securities laws (collectively, forward-looking\nstatements). Forward-looking statements in this press release include\nstatements about: the Company’s estimated license revenue from Genevant\nrelated to the litigation settlement with Moderna, and the timing thereof; the\npotential of Fast Track designation to facilitate development and accelerate\nFDA review; the potential to lead to a functional cure for HBV and/or the\ndiscontinuation of HBV therapies after treatment with Arbutus’ product\ncandidates; the durability of clinical benefits from Arbutus’ product\ncandidates; the potential for Arbutus’ product candidates to achieve success\nin clinical trials; the potential for regulatory approval of Arbutus’\nproduct candidates, Arbutus’ pipeline and development plans for its cHBV\nprograms; and Arbutus’ plans with respect to ongoing patent litigation\nmatters, including the expected timing thereof and the settlement of the\nModerna litigation.\n\nWith respect to the forward-looking statements contained in this press\nrelease, Arbutus has made numerous assumptions regarding, among other things:\nthe effectiveness and timeliness of clinical trials, and the usefulness of the\ndata; the continued demand for Arbutus’ assets; and the stability of\neconomic and market conditions. While Arbutus considers these assumptions to\nbe reasonable, these assumptions are inherently subject to significant\nbusiness, economic, competitive, market and social uncertainties and\ncontingencies. Additionally, there are known and unknown risk factors which\ncould cause Arbutus’ actual results, performance or achievements to be\nmaterially different from any future results, performance or achievements\nexpressed or implied by the forward-looking statements contained herein. Known\nrisk factors include, among others: ongoing and anticipated clinical trials\nmay be more costly or take longer to complete than anticipated, and may never\nbe initiated or completed, or may not generate results that warrant future\ndevelopment of the tested product candidate; Arbutus may elect to change its\nstrategy regarding its product candidates and clinical development activities;\nArbutus may not receive the necessary regulatory approvals for the clinical\ndevelopment of Arbutus’ product candidates; uncertainties associated with\nlitigation generally and patent litigation specifically; economic and market\nconditions may worsen; market shifts may require a change in strategic focus;\nArbutus’ workforce reduction and plans to reduce its net cash burn may not\nmaterially extend the cash runway and may create a distraction or uncertainty\nthat may adversely affect its operating results, business, or investor\nperceptions; and risks related to the sufficiency of Arbutus’ cash resources\nfor its foreseeable and unforeseeable operating expenses and capital\nexpenditures.\n\nA more complete discussion of the risks and uncertainties facing Arbutus\nappears in Arbutus’ Annual Report on Form 10-K, Arbutus’ Quarterly Reports\non Form 10-Q and Arbutus’ continuous and periodic disclosure filings, which\nare available at www.sedar.com and at www.sec.gov. All forward-looking\nstatements herein are qualified in their entirety by this cautionary\nstatement, and Arbutus disclaims any obligation to revise or update any such\nforward-looking statements or to publicly announce the result of any revisions\nto any of the forward-looking statements contained herein to reflect future\nresults, events or developments, except as required by law.\n\nArbutus Biopharma Corporation \nir@arbutusbio.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/be474abd-3f6d-4270-a58e-1e6ee5c80bb2)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX26HPpf","title":"Arbutus Reports First Quarter 2026 Financial Results and Provides Corporate Update","author":"Globe Newswire","ticker":"ABUS","created":"2026-05-13T11:30:00.766Z","tickers":["ABUS"],"exchange":"NASDAQ","article_body":"Q1 total revenue of $179.1M includes estimated license revenue from Genevant\nrelated to litigation settlement with Moderna\n\nStrong financial position with cash, cash equivalents and marketable\nsecurities of $95.2M as of March 31, 2026\n\nFDA granted Fast Track designation to imdusiran, which has the potential to\nfacilitate development and accelerate FDA review\n\nWARMINSTER, Pa., May 13, 2026 (GLOBE NEWSWIRE) -- Arbutus Biopharma\nCorporation (Nasdaq: ABUS) (“Arbutus” or the “Company”), a\nclinical-stage biopharmaceutical company focused on infectious disease, today\nreported first quarter 2026 financial results and provided a corporate update.\n\nLNP Litigation\n* On March 3, 2026, Arbutus, along with its exclusive licensee, Genevant\nSciences (“Genevant”), entered into a settlement agreement to resolve all\nglobal patent infringement litigation and patent revocation proceedings\ninvolving Moderna. As part of the settlement, Moderna will pay Arbutus and\nGenevant $950 million upfront in July 2026 (the “Noncontingent Settlement\nPayment”) and an additional $1.3 billion contingent upon an appellate ruling\nthat 28 U.S.C. §1498 does not bar Arbutus’ and Genevant’s claims against\nModerna for patent infringement, except as to doses characterized by the\ndistrict court as having gone to U.S. government employees. Under the\nCompany’s license with Genevant, the Company expects to receive in July 2026\nan estimated $178.7 million of the Noncontingent Settlement Payment, which\nincludes reimbursement of the Company’s litigation costs. In addition, the\nCompany owns approximately 16% of the outstanding common equity of Genevant.\nFor more information about the terms and conditions of the settlement with\nModerna, including the contingent payment, please refer to Arbutus’\nQuarterly Report on Form 10-Q to be filed with the SEC on May 13, 2026 and\nAnnual Report on Form 10-K filed with the SEC on March 23, 2026.\nCorporate Updates\n* In April 2026, the U.S. Food and Drug Administration (“FDA”) granted\nFast Track designation for imdusiran for the treatment of chronic hepatitis B.\nThe FDA’s Fast Track program is designed to facilitate the development and\nexpedite the review of investigational therapies to treat serious conditions\nwith unmet medical need. A drug granted Fast Track designation may be eligible\nfor several benefits, including earlier and more frequent meetings and\ncommunications with the FDA and the potential for rolling review of its\napplication. If relevant criteria are met, investigational therapies that\nreceive Fast Track designation may also qualify for Accelerated Approval or\nPriority Review of a Biologics License Application or New Drug Application.\nFinancial Results\n\nCash, Cash Equivalents and Investments\n\nAs of March 31, 2026, the Company had cash, cash equivalents and investments\nin marketable securities of $95.2 million compared to $91.5 million as of\nDecember 31, 2025. During the three months ended March 31, 2026, the Company\nused $8.1 million in operating activities, which included one-time payments\nrelated to its restructuring efforts, and received $11.5 million of proceeds\nfrom the exercise of stock options.\n\nRevenue\n\nTotal revenue was $179.1 million for the quarter ended March 31, 2026,\ncompared to $1.8 million for the same period in 2025. The increase of $177.4\nmillion was due to license revenue from Genevant related to the Company’s\nportion of the Noncontingent Settlement Payment.\n\nOperating Expenses\n\nResearch and development expenses were $4.1 million for the quarter ended\nMarch 31, 2026, compared to $9.0 million for the same period in 2025. The\ndecrease of $4.8 million was due primarily to cost savings from the\nCompany’s decisions to reduce its workforce and discontinue in-house\nscientific research, as well as lower clinical trial costs as studies neared\ncompletion.\n\nGeneral and administrative expenses were $5.9 million for the quarter ended\nMarch 31, 2026, compared to $5.8 million for the same period in 2025. This\nincrease was due primarily to higher legal fees driven by the settlement with\nModerna, partially offset by cost-cutting efforts by the Company, which drove\nreductions in employee compensation-related expenses.\n\nThere were no restructuring costs in the quarter ended March 31, 2026,\ncompared to $12.4 million for the same period in 2025.\n\nNet Income/Loss\n\nFor the quarter ended March 31, 2026, the Company’s net income was $169.7\nmillion, or income of $0.88 per basic and $0.87 per diluted common share, as\ncompared to a net loss of $24.5 million, or a loss of $0.13 per basic and\ndiluted common share, for the quarter ended March 31, 2025.\n\nOutstanding Shares\n\nAs of March 31, 2026, the Company had 196.9 million common shares issued and\noutstanding, as well as 9.7 million stock options and unvested restricted\nstock units outstanding.\n\n UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND LOSS                                                 \n (in thousands, except share and per share data)                                                                \n                                                                                                                \n                                                   Three Months Ended March 31,                                 \n                                                          2026                              2025                \n Revenue                                                                                                        \n Collaborations and licenses                       $      204                        $      1,316               \n License revenue from Genevant                            178,741                           —                   \n Non-cash royalty revenue                                 181                               448                 \n Total revenue                                            179,126                           1,764               \n Operating expenses                                                                                             \n Research and development                                 4,120                             8,959               \n General and administrative                               5,889                             5,832               \n Change in fair value of contingent consideration         209                               299                 \n Restructuring costs                                      —                                 12,373              \n Total operating expenses                                 10,218                            27,463              \n Income (loss) from operations                            168,908                           (25,699      )      \n Other income                                                                                                   \n Interest income                                          815                               1,197               \n Interest expense                                         (17          )                    (28          )      \n Foreign exchange (loss) gain                             (11          )                    4                   \n Total other income                                       787                               1,173               \n Net income (loss)                                 $      169,695                    $      (24,526      )      \n Net income (loss) per common share                                                                             \n Basic                                             $      0.88                       $      (0.13        )      \n Diluted                                           $      0.87                       $      (0.13        )      \n Weighted average number of common shares                                                                       \n Basic                                                    193,768,641                       190,707,085         \n Diluted                                                  195,214,067                       190,707,085         \n\n\n\n                                                                                                                \n UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)                                                 \n                                                                                                                \n                                                                           March 31,          December 31,      \n                                                                           2026               2025              \n Cash, cash equivalents and marketable securities, current                 $       95,226     $        91,471   \n License receivable from Genevant                                                  178,741             —        \n Accounts receivable and other current assets                                      3,044               2,985    \n Total current assets                                                              277,011             94,456   \n Property and equipment, net of accumulated depreciation and impairment            22                  32       \n Other non-current assets                                                          131                 130      \n Total assets                                                              $       277,164    $        94,618   \n                                                                                                                \n Accounts payable and accrued liabilities                                  $       4,474      $        5,459    \n Lease liability, current                                                          631                 547      \n Total current liabilities                                                         5,105               6,006    \n Liability related to sale of future royalties                                     3,278               3,442    \n Contingent consideration                                                          8,604               8,395    \n Lease liability, non-current                                                      —                   199      \n Total stockholders’ equity                                                        260,177             76,576   \n Total liabilities and stockholders’ equity                                $       277,164    $        94,618   \n\n\n\n                                                                                                                             \n UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                   \n (in thousands)                                                                                                              \n                                                                                                                             \n                                                                       Three Months Ended March 31,                          \n                                                                              2026                           2025            \n Net income (loss)                                                     $      169,695                 $      (24,526  )      \n Non-cash items                                                               1,061                          5,866           \n License receivable from Genevant                                             (178,741  )                    —               \n Other changes in working capital                                             (125      )                    5,269           \n Net cash used in operating activities                                        (8,110    )                    (13,391  )      \n Net cash provided by investing activities                                    2,199                          11,349          \n Net cash provided by financing activities                                    11,619                         2,784           \n Effect of foreign exchange rate changes on cash and cash equivalents         (10       )                    4               \n Increase in cash and cash equivalents                                        5,698                          746             \n Cash and cash equivalents, beginning of period                               18,008                         36,330          \n Cash and cash equivalents, end of period                                     23,706                         37,076          \n Investments in marketable securities                                         71,520                         75,631          \n Cash, cash equivalents and marketable securities, end of period       $      95,226                  $      112,707         \n\n\n\nAbout Imdusiran (AB-729)  \n\nImdusiran is an RNAi therapeutic specifically designed to reduce all hepatitis\nB viral proteins and antigens, including hepatitis B surface antigen\n(“HBsAg”), which is thought to be a key prerequisite to enable reawakening\nof a patient’s immune system to control the virus. Imdusiran targets\nhepatocytes using Arbutus’ novel covalently conjugated N-Acetylgalactosamine\ndelivery technology enabling subcutaneous delivery. In Arbutus’ Phase 2a\nclinical trials, eight patients with chronic hepatitis B (“cHBV”) achieved\nfunctional cure following treatment with imdusiran and nucleos(t)ide analogue\n(“NA”) therapy in combination with either pegylated interferon alfa-2a or\nlow dose nivolumab plus an immunotherapeutic, with six out of the eight\npatients continuing to sustain functional cure for over two years. An\nadditional 41 patients across the Company’s Phase 2a clinical trials were\nable to remain off NA therapy for at least 48 weeks during their Phase 2a\nclinical trials following treatment with imdusiran. Two additional patients\nwho discontinued NA therapy in their Phase 2a clinical trials have now\nachieved functional cure during their participation in long-term follow-up.\nFunctional cure is defined as sustained HBsAg seroclearance and hepatitis B\nvirus deoxyribonucleic acid (“HBV DNA”) less than the lower limit of\nquantification after 24 weeks off treatment, with or without anti-hepatitis B\nsurface antibodies. Clinical data generated thus far has shown imdusiran to be\ngenerally safe and well-tolerated, while also providing meaningful reductions\nin HBsAg and HBV DNA.\n\nAbout HBV  \n\nHepatitis B is a potentially life-threatening liver infection caused by\nhepatitis B virus (“HBV”). HBV can cause chronic infection which leads to\na higher risk of death from cirrhosis and liver cancer. cHBV infection\nrepresents a significant unmet medical need. The World Health Organization\nestimates that over 250 million people worldwide suffer from cHBV infection,\nwhile other estimates indicate that approximately 2 million people in the\nUnited States suffer from cHBV infection. Approximately 1.1 million people die\nevery year from complications related to cHBV infection despite the\navailability of effective vaccines and current treatment options.\n\nAbout Arbutus  \n\nArbutus Biopharma Corporation (Nasdaq: ABUS) is a clinical-stage\nbiopharmaceutical company focused on infectious disease. The Company is\ncurrently developing imdusiran (AB-729) and an oral PD-L1 inhibitor (AB-101)\nfor the treatment of cHBV infection. The Company is also consulting closely\nwith and supporting its exclusive licensee, Genevant Sciences, to protect and\ndefend its intellectual property, which is the subject of an on-going lawsuit\nagainst Pfizer/BioNTech for use of Arbutus’ patented LNP technology in their\nCOVID-19 vaccines. For more information, visit www.arbutusbio.com.\n\nForward-Looking Statements and Information\n\nThis press release contains forward-looking statements within the meaning of\nthe Section 27A of the Securities Act of 1933 and Section 21E of the\nSecurities Exchange Act of 1934, and forward-looking information within the\nmeaning of Canadian securities laws (collectively, forward-looking\nstatements). Forward-looking statements in this press release include\nstatements about: the Company’s estimated license revenue from Genevant\nrelated to the litigation settlement with Moderna, and the timing thereof; the\npotential of Fast Track designation to facilitate development and accelerate\nFDA review; the potential to lead to a functional cure for HBV and/or the\ndiscontinuation of HBV therapies after treatment with Arbutus’ product\ncandidates; the durability of clinical benefits from Arbutus’ product\ncandidates; the potential for Arbutus’ product candidates to achieve success\nin clinical trials; the potential for regulatory approval of Arbutus’\nproduct candidates, Arbutus’ pipeline and development plans for its cHBV\nprograms; and Arbutus’ plans with respect to ongoing patent litigation\nmatters, including the expected timing thereof and the settlement of the\nModerna litigation.\n\nWith respect to the forward-looking statements contained in this press\nrelease, Arbutus has made numerous assumptions regarding, among other things:\nthe effectiveness and timeliness of clinical trials, and the usefulness of the\ndata; the continued demand for Arbutus’ assets; and the stability of\neconomic and market conditions. While Arbutus considers these assumptions to\nbe reasonable, these assumptions are inherently subject to significant\nbusiness, economic, competitive, market and social uncertainties and\ncontingencies. Additionally, there are known and unknown risk factors which\ncould cause Arbutus’ actual results, performance or achievements to be\nmaterially different from any future results, performance or achievements\nexpressed or implied by the forward-looking statements contained herein. Known\nrisk factors include, among others: ongoing and anticipated clinical trials\nmay be more costly or take longer to complete than anticipated, and may never\nbe initiated or completed, or may not generate results that warrant future\ndevelopment of the tested product candidate; Arbutus may elect to change its\nstrategy regarding its product candidates and clinical development activities;\nArbutus may not receive the necessary regulatory approvals for the clinical\ndevelopment of Arbutus’ product candidates; uncertainties associated with\nlitigation generally and patent litigation specifically; economic and market\nconditions may worsen; market shifts may require a change in strategic focus;\nArbutus’ workforce reduction and plans to reduce its net cash burn may not\nmaterially extend the cash runway and may create a distraction or uncertainty\nthat may adversely affect its operating results, business, or investor\nperceptions; and risks related to the sufficiency of Arbutus’ cash resources\nfor its foreseeable and unforeseeable operating expenses and capital\nexpenditures.\n\nA more complete discussion of the risks and uncertainties facing Arbutus\nappears in Arbutus’ Annual Report on Form 10-K, Arbutus’ Quarterly Reports\non Form 10-Q and Arbutus’ continuous and periodic disclosure filings, which\nare available at www.sedar.com and at www.sec.gov. All forward-looking\nstatements herein are qualified in their entirety by this cautionary\nstatement, and Arbutus disclaims any obligation to revise or update any such\nforward-looking statements or to publicly announce the result of any revisions\nto any of the forward-looking statements contained herein to reflect future\nresults, events or developments, except as required by law.\n\nArbutus Biopharma Corporation \nir@arbutusbio.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/be474abd-3f6d-4270-a58e-1e6ee5c80bb2)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-13T11:30:00.822167089Z","server_sent_at_ms":1778671800822},"received_at":"2026-05-13T11:30:01.356Z","source_url":null},"analysis":{"id":"23799","press_release_id":"33254","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":[],"eventType":"earnings","narrative":"Arbutus Biopharma reported Q1 2026 revenue of $179.1 million, a significant increase from $1.8 million in the same period last year, primarily due to a $950 million settlement with Moderna.\n\nThe company's cash, cash equivalents, and marketable securities stood at $95.2 million as of March 31, 2026, up from $91.5 million at the end of 2025.\n\nThe FDA granted Fast Track designation to imdusiran, a key asset in the company's pipeline for the treatment of chronic hepatitis B, which could expedite development and regulatory review.\n\nArbutus' net income for Q1 2026 was $169.7 million, or $0.88 per basic and $0.87 per diluted common share, compared to a net loss of $24.5 million, or $0.13 per basic and diluted common share, in Q1 2025.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Arbutus reports massive Q1 revenue beat and FDA Fast Track for key asset imdusiran."},"keyFigures":{"eps":0.88,"revenue":179126000,"revenueYoy":"99.7% (from $1.8 million to $179.1 million)","customDimensions":{"net_income":169695000,"license_revenue":178741000,"outstanding_shares":196900000,"cash_and_equivalents":95226000,"stock_options_and_unvested_rsus":9700000}},"quotedText":"","namedEntities":{"people":[],"products":["Imdusiran (AB-729)","AB-101"],"companies":[{"name":"Arbutus Biopharma Corporation","ticker":"ABUS"},{"name":"Genevant Sciences","relationship":"licensee"},{"name":"Moderna","relationship":"litigation party"},{"name":"Pfizer/BioNTech","relationship":"litigation party"}],"dollarAmounts":[{"amount":"$179.1M","context":"Q1 2026 total revenue"},{"amount":"$950M","context":"upfront settlement payment from Moderna"},{"amount":"$1.3B","context":"contingent settlement payment from Moderna"},{"amount":"$95.2M","context":"cash, cash equivalents and marketable securities as of March 31, 2026"},{"amount":"$91.5M","context":"cash, cash equivalents and marketable securities as of December 31, 2025"},{"amount":"$11.5M","context":"proceeds from stock option exercises"},{"amount":"$169.7M","context":"Q1 2026 net income"},{"amount":"$24.5M","context":"Q1 2025 net loss"},{"amount":"$196.9M","context":"outstanding common shares as of March 31, 2026"},{"amount":"$9.7M","context":"outstanding stock options and unvested restricted stock units as of March 31, 2026"}]},"materialImpact":{"score":5,"reasoning":"The company reported a significant revenue increase of $177.4 million, primarily due to a $950 million settlement with Moderna. Additionally, the FDA granted Fast Track designation to imdusiran, which could accelerate regulatory review and development."},"tickerRelevance":{"others":[],"primary":"ABUS"},"globalImportance":65,"audienceRelevance":70,"eventTypeSecondary":["operations_update","legal_litigation"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings beat + FDA Fast Track + significant settlement","sectorWeight":"Health Care / Biotechnology"}},"event_type":"earnings","event_type_secondary":["operations_update","legal_litigation"],"sentiment":"bullish","material_impact_score":5,"narrative":"Arbutus Biopharma reported Q1 2026 revenue of $179.1 million, a significant increase from $1.8 million in the same period last year, primarily due to a $950 million settlement with Moderna.\n\nThe company's cash, cash equivalents, and marketable securities stood at $95.2 million as of March 31, 2026, up from $91.5 million at the end of 2025.\n\nThe FDA granted Fast Track designation to imdusiran, a key asset in the company's pipeline for the treatment of chronic hepatitis B, which could expedite development and regulatory review.\n\nArbutus' net income for Q1 2026 was $169.7 million, or $0.88 per basic and $0.87 per diluted common share, compared to a net loss of $24.5 million, or $0.13 per basic and diluted common share, in Q1 2025.","key_figures":{"eps":0.88,"revenue":179126000,"revenueYoy":"99.7% (from $1.8 million to $179.1 million)","customDimensions":{"net_income":169695000,"license_revenue":178741000,"outstanding_shares":196900000,"cash_and_equivalents":95226000,"stock_options_and_unvested_rsus":9700000}},"named_entities":{"people":[],"products":["Imdusiran (AB-729)","AB-101"],"companies":[{"name":"Arbutus Biopharma Corporation","ticker":"ABUS"},{"name":"Genevant Sciences","relationship":"licensee"},{"name":"Moderna","relationship":"litigation party"},{"name":"Pfizer/BioNTech","relationship":"litigation party"}],"dollarAmounts":[{"amount":"$179.1M","context":"Q1 2026 total revenue"},{"amount":"$950M","context":"upfront settlement payment from Moderna"},{"amount":"$1.3B","context":"contingent settlement payment from Moderna"},{"amount":"$95.2M","context":"cash, cash equivalents and marketable securities as of March 31, 2026"},{"amount":"$91.5M","context":"cash, cash equivalents and marketable securities as of December 31, 2025"},{"amount":"$11.5M","context":"proceeds from stock option exercises"},{"amount":"$169.7M","context":"Q1 2026 net income"},{"amount":"$24.5M","context":"Q1 2025 net loss"},{"amount":"$196.9M","context":"outstanding common shares as of March 31, 2026"},{"amount":"$9.7M","context":"outstanding stock options and unvested restricted stock units as of March 31, 2026"}]},"model_name":"Qwen/Qwen2.5-72B-Instruct-AWQ","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-13T11:31:35.604Z","global_importance":65,"audience_relevance":70,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings beat + FDA Fast Track + significant settlement","sectorWeight":"Health Care / Biotechnology"}},"durationMs":40987,"modelName":"george-droid-qwen-72b"}}