Arbutus Biopharma
Develops chronic HBV therapies while monetizing legacy lipid-nanoparticle IP.
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Profile
Develops two chronic hepatitis B candidates, imdusiran and AB-101, in one reportable segment. The operating model is lean after restructuring and is shaped by legacy lipid-nanoparticle royalties, Genevant-linked settlements, and ongoing LNP patent litigation.
Develops chronic hepatitis B therapies around imdusiran, a subcutaneous GalNAc-conjugated RNAi candidate, and AB-101, an oral PD-L1 inhibitor. Imdusiran has FDA Fast Track designation, while AB-101 remains an early clinical program with a disclosed clinical-hold dependency.
Global imdusiran rights returned after the Greater China and Taiwan Qilu partnership ended, leaving a focused HBV portfolio under one reportable segment. Operations are lean after restructuring, with discovery work and in-house scientific research discontinued.
Legacy value is tied to lipid-nanoparticle intellectual property through Genevant, ONPATTRO royalty entitlements, the Moderna settlement, and ongoing Pfizer/BioNTech litigation. The business has no approved proprietary product sales in the context reviewed.
Company facts
Key statistics
Year to date +6.0% · Average volume (30d) 3.0M
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q2 FY26 | −$0.02 | −$0.03 | −50.0% | $700.0K | $1.0M | +44.9% | −1.71% |
| Aug 11, 2026Q2 FY26 | −$0.02 | −$0.03 | −50.0% | $700.0K | $1.0M | +44.9% | +1.74% |
| May 13, 2026Q1 FY26 | −$0.03 | $0.87 | +3,000.0% | $750.0K | $179.1M | +23,783.5% | +0.93% |
| Mar 23, 2026Q4 FY25 | −$0.04 | −$0.01 | +71.5% | $614.5K | $1.1M | +71.0% | −2.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.8M | $10.7M | $529.0K | $1.1M | $179.1M | $1.0M | |
| Gross profit | −$7.2M | $10.7M | $518.0K | $1.0M | $179.1M | $1.0M | |
| Operating income | −$34.7M | $1.5M | −$8.3M | −$7.6M | $169.1M | −$6.0M | |
| Net income | −$24.5M | $2.5M | −$7.7M | −$3.8M | $169.7M | −$5.1M | |
| Diluted EPS | −$0.13 | $0.01 | −$0.04 | −$0.02 | $0.87 | −$0.03 | |
| Gross margin | -407.9% | 100.0% | 97.9% | 99.0% | 100.0% | 100.0% | |
| Operating margin | -1,964.7% | 13.9% | -1,567.7% | -727.3% | 94.4% | -588.2% |
Fiscal years (4-quarter sums)FY21 $11.0M · FY22 $39.0M · FY23 $18.1M · FY24 $6.2M · FY25 $14.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $92.6M · Total debt $3.6M · Total assets $274.0M · Shareholders' equity $258.7M
Dividends
No dividends on record.
Ownership
Shares outstanding 197.54M · Float 157.12M · 79.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Roivant Sciences Ltd. | 38.85M | 20.50% | 13D | Feb 25, 2025 |
| Matthew Gline · director, 10 percent owner: | 38.85M | 19.67% | Form 4 | Mar 6, 2025 |
| Two Seas Capital LP | 19.10M | 9.67% | 13F | Aug 12, 2026 |
| Morgan Stanley | 17.70M | 8.96% | 13F | Aug 13, 2026 |
| Whitefort Capital Management, LP | 15.79M | 8.00% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- GSK (ADR)
ASO-led HBV functional-cure challenger with an siRNA sequence regimen
- Gilead Sciences
Approved HBV antivirals and liver-disease scale set the incumbent bar
- Aligos Therapeutics
Oral capsid modulator program targets HBV suppression and antigens
- Assembly Biosciences
Next-generation HBV capsid modulator overlaps combination-cure work
- Precision BioSciences
Gene-editing HBV cure program targets cccDNA directly
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arbutus Biopharma | $5.09 | +0.74% | $1.00B | 6.5 | — | 5.5 | −90.6% |
| GSK (ADR) | $50.57 | −0.51% | $101.82B | 15.8 | 9.2 | 2.2 | +2.7% |
| Gilead Sciences | $139.30 | −4.36% | $180.87B | — | 16.0 | 5.9 | +10.2% |
| Aligos Therapeutics | $7.02 | +2.48% | $42.8M | — | — | 1.4 | +2,778.6% |
| Assembly Biosciences | $34.07 | +0.24% | $675.2M | 61.9 | — | 9.0 | +38.9% |
| Precision BioSciences | $7.85 | +0.90% | $99.8M | — | — | 2.2 | −100.0% |
| Median | 38.9 | 12.6 | 2.2 | +10.2% |