Arbutus Biopharma (ABUS) Misses Q2 EPS by 7c

Arbutus Biopharma (NASDAQ: ABUS) reported Q2 EPS of ($0.46), $0.07 worse than the analyst estimate of ($0.39).

• Appointed William Collier, with decades of leadership experience in antivirals, President & CEO
• Announced preliminary Phase 1a/1b clinical trial results demonstrating that AB-506 is a potent capsid inhibitor in subjects with chronic hepatitis B
• Initiated dosing in healthy subject portion of Phase 1a/1b clinical trial for AB-729, a subcutaneously delivered RNAi agent
• Received $20 million in gross proceeds from the sale of a portion of ONPATTRO royalty entitlement
• Conference Call and Webcast Scheduled Today at 8:45 AM ET

“I am excited to join Arbutus at this important inflection point as we look to advance our two lead compounds, AB-506 and AB-729, through Phase1a/1b clinical trials,” said William Collier, Arbutus’ President and Chief Executive Officer. “Provided these compounds progress as expected, we anticipate moving into a combination proof-of-concept Phase 2 clinical trial in subjects with chronic hepatitis B in the second half of 2020. We believe a combination regimen that includes several different mechanisms of action will be required to improve upon the existing standard-of-care in HBV.”

For earnings history and earnings-related data on Arbutus Biopharma (ABUS) click here.

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