Arbutus Biopharma Corporation (ABUS)
NASDAQ:ABUS
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Arbutus Biopharma
(NASDAQ:ABUS)
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Rating:48Neutral
Price Target:
$4.00
▼(-7.41% Downside)
Action:ReiteratedDate:03/23/26
The score is held down primarily by weak financial performance (ongoing losses and cash burn) and soft technical momentum. A major offset is the transformative Moderna settlement, which improves the outlook for funding and potential shareholder returns, while valuation support is limited due to negative earnings and no dividend data.
Positive Factors
Transformative Moderna settlement
The $2.25B settlement materially strengthens Arbutus’s long-term funding optionality: a $950M upfront payment and contingent proceeds provide durable liquidity to fund R&D, shore up operations, and enable strategic options (including a planned capital return). The deal also converts legal uncertainty into a commercial licensing arrangement, creating a structural revenue pathway beyond one-off litigation outcomes.
Negative Factors
Persistent cash burn
Repeated negative operating and free cash flow indicates the business consumes meaningful cash to fund R&D and operations. Over multi-quarter horizons this creates dependence on external financing, collaborations, or one-time legal proceeds; if contingent settlement payments are delayed or reduced, Arbutus could face renewed funding pressure and dilution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Transformative Moderna settlement
The $2.25B settlement materially strengthens Arbutus’s long-term funding optionality: a $950M upfront payment and contingent proceeds provide durable liquidity to fund R&D, shore up operations, and enable strategic options (including a planned capital return). The deal also converts legal uncertainty into a commercial licensing arrangement, creating a structural revenue pathway beyond one-off litigation outcomes.
Read all positive factors
Arbutus Biopharma (ABUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$856.19M
Dividend YieldN/A
Average Volume (3M)1.20M
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue Growth116.64%
EPS Growth47.93%
CountryUS
Employees44
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.01
Shares Outstanding195,478,070
10 Day Avg. Volume1,167,480
30 Day Avg. Volume1,197,792
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)12.04
Price to Sales (P/S)65.44
P/FCF Ratio-23.25
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue59.81
Enterprise Value/Gross Profit165.11
Enterprise Value/Ebitda-22.80
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.16
Revenue Forecast (FY)$1.00M
Arbutus Biopharma Business Overview & Revenue Model
Company Description
Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprie...
How the Company Makes Money
Arbutus primarily generates revenue from collaborations, licenses, and royalty-related income tied to its intellectual property rather than from product sales (as it is a clinical-stage company without commercialized therapeutics). Key revenue str...
Arbutus Biopharma Earnings Call Summary
Earnings Call Date:Nov 06, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook with strong financial positioning and promising clinical trial data for HBV treatments. However, ongoing legal challenges and high operational cash burn present concerns.Positive Updates
Strong Financial Position
Arbutus ended Q3 2024 with $131 million in cash, sufficient to fund operations into Q4 2026. A $44 million net proceeds from common shares issuance offset $54.5 million in operational cash usage.
Negative Updates
Limited Advancement in Legal Proceedings
Litigation with Moderna and Pfizer/BioNTech over LNP intellectual property is ongoing, with trial dates set for late 2024 and 2025, indicating prolonged legal battles.
Read all updates
Q3-2024 Updates
Positive
Negative
Strong Financial Position
Arbutus ended Q3 2024 with $131 million in cash, sufficient to fund operations into Q4 2026. A $44 million net proceeds from common shares issuance offset $54.5 million in operational cash usage.
Read all positive updates
Company Guidance
In the third quarter 2024 earnings call for Arbutus Biopharma, the company provided several key metrics and updates on their ongoing efforts to develop a functional cure for chronic hepatitis B (HBV). They reported having approximately $131 million in cash and investments, with a projected cash burn for 2024 between $63 million and $67 million, ensuring their financial runway extends into the fourth quarter of 2026. The company is advancing their RNAi therapeutic imdusiran through Phase IIa trials, IM-PROVE I and II, which have shown promising results, such as a 33% surface antigen loss in Cohort A1 and 67% in patients with baseline antigen levels below 1,000 IU/mL. Moreover, they are progressing with their AB-101 clinical trial, with evidence of dose-dependent receptor occupancy in Phase Ia/Ib, and anticipate reporting preliminary HBV patient data in the first half of next year. The litigation with Moderna and Pfizer/BioNTech is ongoing, with a trial date set for September 2025 and a Markman hearing on December 18, 2024.Arbutus Biopharma Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.08M | 6.17M | 18.14M | 39.02M | 10.99M |
| Gross Profit | 13.72M | 6.17M | 18.14M | 39.02M | 10.99M |
| EBITDA | -26.69M | -68.40M | -70.99M | -61.86M | -71.64M |
| Net Income | -33.50M | -69.92M | -72.85M | -69.46M | -76.25M |
Balance Sheet | |||||
| Total Assets | 94.62M | 131.71M | 144.40M | 195.42M | 204.49M |
| Cash, Cash Equivalents and Short-Term Investments | 91.47M | 122.62M | 126.00M | 146.91M | 155.32M |
| Total Debt | 4.19M | 1.29M | 8.72M | 12.55M | 18.91M |
| Total Liabilities | 18.04M | 34.34M | 38.38M | 58.57M | 35.05M |
| Stockholders Equity | 76.58M | 97.37M | 106.02M | 136.85M | 169.44M |
Cash Flow | |||||
| Free Cash Flow | -39.64M | -65.03M | -86.94M | -35.87M | -68.34M |
| Operating Cash Flow | -39.64M | -64.85M | -85.94M | -35.36M | -67.53M |
| Investing Cash Flow | 15.58M | 22.95M | 50.77M | -74.94M | -12.68M |
| Financing Cash Flow | 5.72M | 52.00M | 30.65M | 31.81M | 137.24M |
Arbutus Biopharma Technical Analysis
Neutral
4.32
Price Trends
4.34
Positive
4.43
Negative
4.16
Positive
Market Momentum
<0.01
Negative
48.25
Neutral
52.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABUS, the sentiment is Neutral. The current price of 4.32 is below the 20-day moving average (MA) of 4.40, below the 50-day MA of 4.34, and above the 200-day MA of 4.16, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 48.25 is Neutral, neither overbought nor oversold. The STOCH value of 52.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ABUS.
Arbutus Biopharma Risk Analysis
Arbutus Biopharma disclosed 39 risk factors in its most recent earnings report. Arbutus Biopharma reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Arbutus Biopharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $8.92B | -21.87 | -58.74% | ― | 364.98% | -25.33% | |
54 Neutral | $1.10B | ― | -34.23% | ― | 522.13% | 62.68% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.41B | -5.79 | -39.69% | ― | -27.61% | -69.49% | |
48 Neutral | $856.19M | -27.51 | -42.39% | ― | 116.64% | 47.93% | |
46 Neutral | $2.45B | -8.83 | -57.61% | ― | -4.44% | 63.58% | |
46 Neutral | $856.64M | -4.22 | -141.99% | ― | ― | 31.16% |
* Healthcare Sector Average
ABUS
Arbutus Biopharma
4.38
1.21
38.17%
GERN
Geron
1.71
0.32
23.02%
IMTX
Immatics
10.53
6.49
160.64%
IMNM
Immunome
21.70
15.49
249.44%
PRAX
Praxis Precision Medicines
320.22
289.37
937.99%
SANA
Sana Biotechnology
3.21
1.66
107.10%
Arbutus Biopharma Corporate Events
Business Operations and StrategyLegal Proceedings
Arbutus Biopharma Reaches Transformative Global Settlement With Moderna
Positive
Mar 3, 2026
On March 3, 2026, Arbutus Biopharma and Genevant Sciences entered into a $2.25 billion global settlement with Moderna to resolve all U.S. and international patent infringement disputes over Moderna’s use of their lipid nanoparticle delivery ...
Legal Proceedings
Court Narrows Moderna Defenses in Arbutus Patent Dispute
Negative
Feb 20, 2026
On February 17, 2026, the U.S. District Court for the District of Delaware issued a memorandum and order in the patent infringement case brought by Arbutus Biopharma and its licensee Genevant Sciences against Moderna over the mRNA-1273 COVID-19 va...
Legal Proceedings
Arbutus Biopharma Secures Mixed Ruling in Moderna Patent Case
Neutral
Feb 6, 2026
On February 2, 2026, the U.S. District Court for the District of Delaware issued a memorandum and order in the patent infringement litigation brought by Arbutus Biopharma and its licensee Genevant Sciences against Moderna over the use of lipid nan...
Legal Proceedings
Arbutus Biopharma Faces EPO Revocation in Moderna Dispute
Negative
Jan 16, 2026
On January 15, 2026, the European Patent Office’s Board of Appeal verbally revoked Arbutus Biopharma’s European patent EP 2279254 following opposition proceedings initiated in 2018 by affiliates of Moderna and Merck, overturning earlie...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.