Arbutus Biopharma Corporation reported a total revenue of $529,000 for the third quarter of 2025, a decrease from $1.34 million in the same period of 2024. For the nine months ending September 30, 2025, the company generated $13.03 million in revenue, significantly up from $4.6 million in the prior year. This increase was primarily attributed to the recognition of $9.6 million in previously deferred revenue following the termination of the strategic partnership with Qilu Pharmaceutical Co., Ltd. in June 2025. However, this was partially offset by a decline in royalty revenue from Alnylam Pharmaceuticals due to lower sales of ONPATTRO, which utilizes Arbutus's lipid nanoparticle technology.
Operating expenses for the third quarter of 2025 totaled $9.19 million, down from $22.78 million in the same quarter of 2024. The reduction in expenses was largely due to the company's restructuring efforts, which included a 57% workforce reduction and the cessation of in-house scientific research. For the nine-month period, operating expenses decreased to $45.9 million from $67 million in the previous year. The net loss for the third quarter was $7.74 million, compared to a loss of $19.72 million in the same quarter of 2024, while the nine-month net loss was $29.75 million, down from $57.39 million year-over-year.
In terms of operational developments, Arbutus has made significant strategic changes, including the appointment of new board members and executive leadership in early 2025. The company has also established a Scientific Advisory Board to guide its hepatitis B virus (HBV) treatment programs. The restructuring actions taken in March 2025 resulted in a one-time charge of $12.4 million, which included severance and impairment costs. As of September 30, 2025, Arbutus had cash, cash equivalents, and marketable securities totaling $93.7 million, with no outstanding debt.
Looking ahead, Arbutus aims to reduce its net cash burn significantly in 2025 compared to 2024, focusing on advancing its clinical development programs for imdusiran and AB-101, both of which target chronic hepatitis B. The company is also actively pursuing its patent infringement lawsuits against Moderna and Pfizer/BioNTech, which could have substantial implications for its financial position and operational strategy. The company believes it has sufficient resources to fund its operations for at least the next 12 months, although it may seek additional funding through various means, including equity or debt financing, to support its ongoing development efforts.
About Arbutus Biopharma Corp
Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B (cHBV) infection. Its core pipeline includes imdusiran, an RNAi therapeutic targeting HBV antigens, and AB-101, an oral PD-L1 inhibitor aimed at reactivating immune response. Arbutus also develops proprietary lipid nanoparticle (LNP) delivery technology, licensed to third parties, and generates revenue through royalties and licensing agreements. The company serves global markets with a focus on innovative antiviral therapies.
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