Arbutus Biopharma Corporation (ABUS) Q2 2024 Earnings Call Transcript

Arbutus Biopharma held its second quarter 2024 earnings call, featuring key updates on the company's ongoing clinical programs, financial health, and strategic moves. The call was led by Interim President and CEO, Michael McElhaugh, alongside other executives, showcasing a positive outlook and a focus on developing novel therapeutics for chronic hepatitis B.

Impressive Clinical Data and Future Plans

The call highlighted the company's recent clinical trial results, specifically from the Phase 2a trials combining its RNAi therapeutic, imdusiran, with different immunomodulators. The data showed a promising response in patients, with some achieving undetectable surface antigen levels, a significant step towards a functional cure for chronic hepatitis B. The company plans to advance imdusiran into Phase 2b clinical development, with preparations already underway. Additionally, the company will report preliminary data from the nivolumab arm of a second trial in the second half of the year.

Strategic Decisions and Financial Health

Arbutus also announced strategic decisions aimed at focusing resources on advancing imdusiran into clinical development. This included eliminating HBV discovery efforts and discontinuing a Phase 2a trial, AB-729-203, to prioritize resources for the Phase 2b clinical trial. The company also streamlined its workforce by 40%, affecting discovery, research, and G&A functions. These moves will extend Arbutus' projected cash runway into the fourth quarter of 2026, demonstrating a solid financial position for the company's future plans.

Looking Ahead

The earnings call underscored Arbutus Biopharma's commitment to developing a functional cure for chronic hepatitis B, a significant unmet medical need. With a strong pipeline and strategic moves, Arbutus is well-positioned to advance its clinical programs and bring innovative treatments to patients. The company's focus on functional cures, as opposed to merely managing symptoms, is a promising direction for the field of hepatitis B treatment.

As Arbutus Biopharma continues its journey, investors and stakeholders will closely watch for updates on clinical trial progress, regulatory interactions, and strategic partnerships. The company's dedication to its mission, combined with its strategic moves, positions it for potential growth and impact in the biopharmaceutical industry.