WARMINSTER, PA — Arbutus Biopharma Corporation (Nasdaq: ABUS) has unveiled its growth during the first quarter of 2024, particularly in the development of its Hepatitis B virus (HBV) therapeutic resources. Interim President and Chief Executive Officer, Michael J. McElhaugh, described that ABUS has made significant strides in bolstering its HBV treatment pipeline, with future trials to be funded until the second quarter of 2026.
Arbutus’s approach to curing chronic HBV (cHBV) involves a joint application of imdusiran, a potential cornerstone therapeutic, and an immune modulator, creating a powerful healing regimen. The company has initiated its third Phase 2a trial for the purpose of merging imdusiran with an immune modulator and has also embarked upon the first half of the Phase 1a/1b trial with AB-101, their proprietary PD-L1 checkpoint inhibitor.
The effectiveness of imdusiran is currently being put to the test in multiple clinical trials involving various combinations of therapies. Each trial aims to evaluate various aspects such as safety, tolerability, antiviral activity, and immunogenicity. Preliminary data from these trials prove promising with promising results, such as the significant reduction of HBsAg levels in combination with Barinthus Bio’s VTP-300, an HBV antigen-specific immunotherapy.
Arbutus Biopharma is also venturing into the application of AB-101, their novel Oral PD-L1 Inhibitor. The PD-L1 Inhibitor trial is planned in two parts, in which both healthy and HBV-infected individuals will be tested. Initial trial results suggest the treatment is generally well-tolerated, and evidence points towards dose-dependent receptor occupancy.
On the litigation front, Arbutus Biopharma is focused on protecting and defending their intellectual property in ongoing lawsuits against heavyweights such as Moderna and Pfizer/BioNTech. The company’s patented lipid nanoparticle (LNP) technology, which plays a significant role in the success of Moderna’s and Pfizer/BioNTech’s COVID-19 vaccines, is at the heart of these disputes.
Turning to the financial front, Arbutus reported $137.9 million in cash, cash equivalents, and investments, a rise from the previous quarter’s $132.3 million. Their net cash burn for 2024 is expected to lie between $63 million to $67 million, excluding any funds gained from their “at-the-market” offering program. These resources are expected to fund the company’s operations up until the second quarter of 2026. However, total revenue saw a decrease, dropping from $6.7 million in Q1 2023 to $1.5 million in Q1 2024 due to varying factors.
Taken together, Arbutus Biopharma continues to move forward in its mission to provide effective treatments for cHBV and protect its intellectual property rights. With its financial position secure for the next two years, the company is poised to continue research and development that could potentially revolutionize cHBV treatment.
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