Categories Earnings, Health Care

Arbutus Biopharma (ABUS): FY19 Earnings Snapshot

— Arbutus Biopharma Corporation (NASDAQ:ABUS) reported a net loss of $164.9 million or $2.89 per share for fiscal 2019, compared to a loss of $67.2 million or $1.21 per share last year.

— Total revenues edged up to $6.01 million from $5.9 million in 2018

— Research and development expenses were almost unchanged year-over-year at $57.6 million in fiscal 2019

— Achieved progress in a focused discovery effort on follow-on compounds for the current HBV pipeline

— On track to advance a next-generation oral HBV specific RNA-destabilizer with chemical scaffolds distinct from AB-452 through lead optimization

— Ended 2019 with $90.8 million in cash, cash equivalents and short-term investments

— Expects to utilize between $54 to $58 million of cash and investments to fund operations in 2020

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