HomeTop MoversHere is why Arbutus Biopharma Corporation (ABUS) stock performed well on Wednesday?

Here is why Arbutus Biopharma Corporation (ABUS) stock performed well on Wednesday?

Arbutus Biopharma Corporation (ABUS) shares gained 1.95% in after-hours on Wednesday, December 01, 2021, and closed the daily trading at $4.70. Even in the regular trading session, ABUS’s stock surged 44.06%. ABUS shares have risen 15.54% over the last 12 months, and they have moved up 47.76% in the past week. Over the past three months, the stock has gained 34.01%, while over the past six months, it has soared 56.27%.

Let’s discuss its recent news briefly.


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Update about ABUS Capsid Inhibitor AB-836

On December 01, 2021, Arbutus Biopharma Corporation (ABUS) announced preliminary data from its ongoing Phase 1a/1b clinical trial demonstrating that its next-generation capsid inhibitor, AB-836, is generally safe and well-tolerated in both healthy subjects and patients with cHBV and provides robust antiviral activity.

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There were no deaths or serious adverse events (SAEs) observed. All but three AEs were mild (Grade 2 headache, agitation, and bronchitis), and only one was assessed as related to AB-836 (Grade 1 rash). There were no clinically significant abnormalities in clinical laboratory tests, ECGs, vital signs or physical exams noted.

ABUS new appointment

On November 11, 2021, Arbutus Biopharma Corporation (ABUS), appointed Tram Tran, M.D. to the Arbutus Board of Directors effective immediately. Dr Tran is a renowned liver and viral specialist with over 20 years of academic and industry experience as a physician-scientist.

ABUS new AB-729 data presentation

On November 10, 2021, Arbutus Biopharma Corporation (ABUS) reported new AB-729 safety and efficacy data, as well as long-term data from HBV patients following discontinuation of treatment with AB-729. The data was presented at AASLD in a poster entitled, “Low HBsAg levels maintained following cessation of the GalNAc-siRNA, AB-729, in chronic hepatitis B subjects on nucleos(t)ide analogue therapy”.

ABUS recent financial results

On November 04, 2021, Arbutus Biopharma Corporation (ABUS), announced its third quarter of 2021 financial results.

Q3 2021 financial highlights

  • ABUS reported total revenue of $3.34 million in Q3 2021 compared to $1.5 million in Q3 2020.
  • In Q3 2021, research and development expenses were $16.3 million compared to $12.1 million for the same period in 2020.
  • It suffered a net loss of $24.2 million ($0.24 basic and diluted loss per common share) in Q3 2021 compared to $21.8 million ($0.27 basic and diluted loss per common share) in Q3 2020.
  • Arbutus ended the quarter with cash, cash equivalents, and investments in marketable securities totaling $151.9 million compared to $123.3 million as of December 31, 2020.

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Conclusion

The latest results about Capsid Inhibitor AB-836 were the reason behind its exceptional gains on Wednesday. We can expect it to continue its momentum on Thursday as well.

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