Arbutus Biopharma (ABUS) Misses Q2 EPS by 1c

Arbutus Biopharma (NASDAQ: ABUS) reported Q2 EPS of ($0.25), $0.01 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $1.51 million versus the consensus estimate of $1.74 million.

William Collier, President and Chief Executive Officer of Arbutus, stated, “Despite the challenging conditions resulting from the COVID-19 pandemic, we continue to make steady progress in our Phase 1a/1b clinical trial of AB-729, a subcutaneously delivered RNAi agent, and have recently initiated an additional AB-729 90 mg single-dose cohort in HBV DNA positive subjects. We also intend to initiate two 90 mg multi-dose cohorts in the second half of this year.”

Mr. Collier added, “Importantly, in March and May of this year we announced positive preliminary results from this trial, and we look forward to providing additional clinical updates in the second half of 2020. We anticipate these updates will include data from 60 mg multi-dose cohorts with dosing intervals every four and eight weeks and 90 mg single-dose week 12 data in HBV DNA negative and positive subjects. We continue to believe AB-729 is a potent RNAi agent capable of reducing HBsAg plasma levels.”

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

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