$ABUS

Arbutus Biopharma Corp

CIK:0001447028|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Revenues	$ 1,014	$ 10,739	$ 180,140	$ 12,503
Operating expenses
Research and development	2,898	5,498	7,018	14,457
General and administrative	3,867	3,328	9,756	9,160
Change in fair value of contingent consideration	213	260	422	559
Restructuring costs	0	165	0	12,538
Total operating expenses	6,978	9,251	17,196	36,714
(Loss) income from operations	(5,964)	1,488	162,944	(24,211)
Interest income	842	1,042	1,657	2,239
Interest expense	(18)	(28)	(35)	(56)
Foreign exchange (loss) gain	(3)	21	(14)	25
Total other income	821	1,035	1,608	2,208
Net (loss) income	$ (5,143)	$ 2,523	$ 164,552	$ (22,003)
Net (loss) income per common share
Basic (in USD per share)	$ (0.03)	$ 0.01	$ 0.84	$ (0.12)
Diluted (in USD per share)	$ (0.03)	$ 0.01	$ 0.84	$ (0.12)
Weighted average number of common shares
Basic (in shares)	197,470,724	191,551,282	195,626,117	191,130,631
Diluted (in shares)	197,470,724	192,399,733	196,847,687	191,130,631
Comprehensive (loss) income
Unrealized loss on available-for-sale securities	$ (49)	$ (21)	$ (146)	$ (52)
Comprehensive (loss) income	(5,192)	2,502	164,406	(22,055)
Collaborations and licenses
Revenue
Revenues	202	10,213	406	11,529
Revenue from collaborations and licenses
Revenue
Revenues	632	0	179,373	0
Non-cash royalty revenue
Revenue
Revenues	$ 180	$ 526	$ 361	$ 974

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net Income (Loss)	$ 164,552	$ (22,003)
Non-cash items:
Depreciation	22	341
Loss on impairment of leasehold improvements and lab equipment	0	2,811
Stock-based compensation expense	2,984	4,428
Change in fair value of contingent consideration	422	559
Non-cash royalty revenue	(361)	(974)
Non-cash interest expense	30	55
Net accretion and amortization of investments in marketable securities	(675)	(1,386)
Net change in operating items:
Accounts receivable	1,078	1,384
Increase (Decrease) in Accounts and Other Receivables	(179,373)	0
Prepaid expenses and other assets	20	(640)
Accounts payable and accrued liabilities	(2,609)	(3,056)
Change in deferred license revenue	0	(10,434)
Other liabilities	(218)	(225)
Net cash used in operating activities	(14,128)	(29,140)
INVESTING ACTIVITIES
Purchase of investments in marketable securities	(37,462)	(63,214)
Proceeds from sale of property and equipment	0	9
Disposition of investments in marketable securities	38,000	90,165
Net cash provided by investing activities	538	26,960
FINANCING ACTIVITIES
Issuance of common shares pursuant to exercise of stock options	14,679	3,106
Issuance of common shares pursuant to ESPP	88	131
Net cash provided by financing activities	14,767	3,237
Effect of foreign exchange rate changes on cash and cash equivalents	(14)	25
Increase in cash and cash equivalents	1,163	1,082
Cash and cash equivalents, beginning of period	18,008	36,330
Cash and cash equivalents, end of period	$ 19,171	$ 37,412

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 19,171	$ 18,008
Investments in marketable short-term securities	73,454	73,463
Accounts receivable	369	1,447
Receivable from Genevant license	179,373	0
Prepaid expenses and other current assets	1,516	1,538
Total current assets	273,883	94,456
Property and equipment, net of accumulated depreciation and impairment of $235 (December 31, 2025: $213)	10	32
Other non-current assets	132	130
Total assets	274,025	94,618
Current liabilities:
Accounts payable and accrued liabilities	2,850	5,459
Lease liability, current	514	547
Total current liabilities	3,364	6,006
Liability related to sale of future royalties	3,111	3,442
Contingent consideration	8,817	8,395
Lease liability, non-current	0	199
Total liabilities	15,292	18,042
Stockholders’ equity
Issued and outstanding: 197,634,118 (December 31, 2025: 192,531,225)	1,448,177	1,421,429
Additional paid-in capital	74,321	83,318
Deficit	(1,215,521)	(1,380,073)
Accumulated other comprehensive loss	(48,244)	(48,098)
Total stockholders’ equity	258,733	76,576
Total liabilities and stockholders’ equity	$ 274,025	$ 94,618
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited