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Arbutus Biopharma Corporation, a clinical-stage biopharmaceutical company, develops novel therapeutics for infectious disease in the United States. Its chronic Hepatitis B virus product pipeline comprises Imdusiran, conjugated GalNAc, subcutaneously-delivered RNAi therapeutic product candidate which is in phase 2a clinical trials that suppresses all HBV antigens, including HBsAg expression; and AB-101, an oral PD-L1 inhibitor, which is in phase 1a/1b clinical trial that has the potential to reawaken patients' HBV-specific immune response by inhibiting PD-L1. The company has licensing agreement with Alnylam Pharmaceuticals, Inc. to develop and commercialize products with LNP delivery technology. The company was formerly known as Tekmira Pharmaceuticals Corporation and changed its name to Arbutus Biopharma Corporation in July 2015. Arbutus Biopharma Corporation was incorporated in 2005 is headquartered in Warminster, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $14M | $-33M | $-34M | $-40M | -43.7% | 128.2% | -52.1% |
| 2024 | $6M | $-68M | $-70M | $-65M | -71.8% | -66.0% | -4.0% |
| 2023 | $18M | $-71M | $-73M | $-87M | -68.7% | -53.5% | 4.9% |
| 2022 | $39M | $-62M | $-69M | $-36M | -50.8% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 39.02 | 18.14 | 6.17 | 14.08 |
| Operating Revenue | - | 39.02 | 18.14 | 6.17 | 14.08 |
| Operating Expense | - | 102.24 | 96.18 | 76.14 | 41.13 |
| Research And Development | - | 84.41 | 73.70 | 54.04 | 25.24 |
| Selling General And Administration | - | 17.83 | 22.48 | 22.11 | 15.89 |
| Total Expenses | - | 102.24 | 96.18 | 76.14 | 41.13 |
| Operating Income | - | -63.22 | -78.03 | -69.97 | -27.05 |
| Total Operating Income As Reported | - | -65.46 | -78.10 | -76.32 | -38.16 |
| EBITDA | - | -61.86 | -70.99 | -68.40 | -33.04 |
| Normalized EBITDA | - | -59.60 | -70.94 | -62.01 | -22.62 |
| EBIT | - | -63.29 | -72.39 | -69.78 | -33.40 |
| Interest Income | - | 2.19 | 5.69 | 6.58 | 4.07 |
| Interest Expense | - | 1.73 | 0.46 | 0.14 | 0.10 |
| Net Interest Income | - | 0.47 | 5.23 | 6.45 | 3.97 |
| Other Income Expense | - | -2.26 | -0.04 | -6.39 | -10.42 |
| Interest Income Non Operating | - | 2.19 | 5.69 | 6.58 | 4.07 |
| Interest Expense Non Operating | - | 1.73 | 0.46 | 0.14 | 0.10 |
| Net Non Operating Interest Income Expense | - | 0.47 | 5.23 | 6.45 | 3.97 |
| Pretax Income | - | -65.01 | -72.85 | -69.92 | -33.50 |
| Tax Provision | 0 | 4.44 | 0 | 0 | - |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.47 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income From Continuing And Discontinued Operation | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income From Continuing Operation Net Minority Interest | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income Common Stockholders | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income Including Noncontrolling Interests | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Normalized Income | - | -67.67 | -72.81 | -63.53 | -23.08 |
| Diluted NI Availto Com Stockholders | - | -69.46 | -72.85 | -69.92 | -33.50 |
| Basic Average Shares | - | 150.94 | 165.96 | 185.61 | 191.60 |
| Diluted Average Shares | - | 150.94 | 165.96 | 185.61 | 191.60 |
| Reconciled Depreciation | - | 1.43 | 1.40 | 1.38 | 0.36 |
| Total Unusual Items | - | -2.26 | -0.04 | -6.39 | -10.42 |
| Total Unusual Items Excluding Goodwill | - | -2.26 | -0.04 | -6.39 | -10.42 |
| Special Income Charges | - | -2.23 | -0.07 | -6.34 | -10.44 |
| Restructuring And Mergern Acquisition | - | 2.23 | 0.07 | 6.34 | 11.11 |
| Gain On Sale Of Security | - | -0.02 | 0.02 | -0.05 | 0.01 |
| General And Administrative Expense | - | 17.83 | 22.48 | 22.11 | 15.89 |
| Other Gand A | - | 17.83 | 22.48 | 22.11 | 15.89 |
| Gain On Sale Of Ppe | - | - | - | 0 | 0.67 |
| Otherunder Preferred Stock Dividend | 12.14 | 0 | - | - | - |
| Earnings From Equity Interest | 0 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arbutus Biopharma Corporationthis co. | ABUS | $859M | -25.65 | 11.22 | -43.7% | -25.48 |
| Cullinan Therapeutics, Inc. | CGEM | $887M | -4.03 | 2.17 | -53.8% | -3.32 |
| MeiraGTx Holdings plc | MGTX | $886M | -7.76 | -152.99 | 1971.4% | -10.17 |
| Jade Biosciences, Inc. | JBIO | $876M | - | -18.71 | -38.3% | - |
| Certara, Inc. | CERT | $873M |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| -547.16 |
| 0.82 |
| -0.2% |
| 9.65 |
| Talkspace, Inc. | TALK | $871M | 111.78 | 7.44 | 6.7% | 129.10 |
| Theravance Biopharma, Inc. | TBPH | $844M | 7.97 | 2.84 | 35.7% | 5.34 |
| Janux Therapeutics, Inc. | JANX | $839M | -7.39 | 0.88 | -11.9% | -5.20 |
| ORIC Pharmaceuticals, Inc. | ORIC | $830M | -6.41 | 2.16 | -33.7% | -5.56 |
| Peer Median | - | -6.41 | 1.52 | -6.0% | -3.32 | |