Biotechnology firm Arbutus (NASDAQ: ABUS ) — which specializes in virology — announced a major overhaul of its business. It will dramatically cut headcount in an effort to streamline operations and focus on its most promising therapeutic candidates.
Arbutus Biopharma Corporation (NASDAQ:ABUS ) Q2 2024 Earnings Conference Call August 1, 2024 8:45 AM ET Company Participants Lisa Caperelli - VP, Investor Relations Michael McElhaugh - Interim President, CEO & Director Karen Sims - Chief Medical Officer David Hastings - CFO Conference Call Participants Dennis Ding - Jefferies Roy Buchanan - JMP Securities Keay Nakae - Chardan Capital Markets Operator Good day, and thank you for standing by. Welcome to the Arbutus Biopharma 2024 Second Quarter Financial Results and Corporate Update.
Arbutus Biopharma (ABUS) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.10 per share a year ago.
Arbutus Biopharma's three-pronged strategy targets cHBV by suppressing HBV DNA, reducing viral antigens, and boosting immune response. Imdusiran (AB-729) shows promise in Phase 2 trials, potentially leading to a functional cure for chronic hepatitis B. ABUS is engaged in significant IP litigation with Moderna, Pfizer, and BioNTech over LNP technology used in mRNA vaccines.