Arbutus Biopharma Reports 520% Revenue Increase to $10.7 Million in Q2 2025

Arbutus Biopharma Corporation reported significant financial improvements in its latest quarterly results, with total revenue reaching $10.7 million for the three months ended June 30, 2025, compared to just $1.7 million in the same period last year. This increase of approximately 520% was primarily driven by the recognition of $9.6 million in previously deferred revenue following the termination of its strategic partnership with Qilu Pharmaceutical Co., Ltd. However, the company experienced a decline in royalty revenue from Alnylam Pharmaceuticals and Acuitas Therapeutics due to lower sales of ONPATTRO, which impacted overall revenue figures.

Operating expenses also saw a notable decrease, falling to $9.3 million in the second quarter of 2025 from $23.3 million in the prior year, reflecting a reduction in research and development costs as the company streamlined its operations. The restructuring efforts, which included a workforce reduction of 57% and the discontinuation of in-house scientific research, resulted in a one-time charge of $12.4 million recorded in the first quarter of 2025. As a result, Arbutus reported a net income of $2.5 million for the quarter, a significant turnaround from a net loss of $19.8 million in the same quarter of 2024.

In terms of operational developments, Arbutus has made strategic changes to its leadership, appointing new members to its Board of Directors and a new executive team in early 2025. The company has also launched a Scientific Advisory Board to guide its clinical development efforts, particularly for its hepatitis B programs. The ongoing clinical trials for its lead product candidates, imdusiran and AB-101, continue to progress, with imdusiran showing promising results in achieving functional cures in patients with chronic hepatitis B.

As of June 30, 2025, Arbutus reported total assets of $103.3 million, down from $131.7 million at the end of 2024, primarily due to a decrease in investments in marketable securities. The company maintained a strong liquidity position with $98.1 million in cash, cash equivalents, and marketable securities, and no outstanding debt. Looking ahead, Arbutus expects to significantly reduce its net cash burn in 2025 compared to 2024, as it focuses on advancing its clinical development programs while managing costs effectively. The company remains committed to defending its intellectual property rights, particularly in ongoing litigation against Moderna and Pfizer/BioNTech regarding its lipid nanoparticle delivery technology.