Q3 2024 Arbutus Biopharma Corp Earnings Call Transcript
Key Points
- Arbutus Biopharma Corp (ABUS) presented promising data from their phase two clinical trials, showing significant surface antigen loss in patients with chronic hepatitis B.
- The company has a strong financial position with approximately $131 million in cash, cash equivalents, and investments, providing a cash runway into the fourth quarter of 2026.
- ABUS's ongoing litigation with Moderna and Pfizer Biontech regarding LNP intellectual property is progressing, with trial dates set for 2025.
- The company's AB-101 oral small molecule PD-L1 checkpoint inhibitor showed favorable safety profiles and evidence of receptor occupancy in early trials.
- Arbutus Biopharma Corp (ABUS) is actively pursuing a functional cure for chronic hepatitis B, which could significantly reduce healthcare costs and improve patient outcomes.
- The data from ongoing phase two trials are under embargo, limiting the ability to provide updates at this time.
- The company's current treatments for chronic hepatitis B have a low functional cure rate, necessitating the development of new therapies.
- Arbutus Biopharma Corp (ABUS) reported a cash burn of $54.5 million in operations during the first half of 2024.
- The litigation process with Moderna and Pfizer Biontech is expected to be lengthy, with trial dates not set until late 2024 and 2025.
- The company's phase one trials for AB-101 are still in early stages, with preliminary data from hepatitis B patients expected only in the first half of next year.
Good day. And thank you for standing by Welcome to the Arbutus BioPharma 2024 3rd quarter, financial results and corporate update.
(Operator Instructions) I would now like to hand the conference over to your first speaker today, Lisa Capparelli, Vice President of Investor Relations. Please go ahead.
Thank you, Antoine. Good morning, everyone and thank you for joining arbutus' third quarter, 2024 financial results and corporate update call. Joining me today from the Arbutus executive team are Michael McElhaugh, interim President and Chief Executive Officer David Hastings, Chief Financial Officer, Dr Karen Sims, Chief Medical Officer and Michael Sofia, Chief Scientific Officer, Michael McElhaugh will provide a corporate update including an update on our, on our ongoing clinical programs in HBV. Dave will then provide a review of the company's third quarter, 2024 financial results. After our prepared remarks, we will open the call for Q&A before we begin. I'd like to remind you that some of
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