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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% | - |
| 2024 | $6M | $-68M | $-70M | $-65M | -71.8% | -66.0% | - |
| 2023 | $18M | $-71M | $-73M | $-87M | -68.7% | -53.5% | - |
| 2022 | $39M | $-62M | $-69M | $-36M | -50.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 39.02 | 18.14 | 6.17 | 14.08 |
| Operating Expense | 102.24 | 96.17 | 76.14 | 41.13 |
| Operating Income | -63.22 | -78.03 | -69.97 | -27.05 |
| EBITDA | -61.86 | -70.99 | -68.40 | -33.04 |
| EBIT | -63.29 | -72.39 | -69.78 | -33.40 |
| Pretax Income | -65.01 | -72.85 | -69.92 | -33.50 |
| Tax Provision | 4.44 | 0 | 0 | 0 |
| Net Income | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income Common Stockholders | -69.46 | -72.85 | -69.92 | -33.50 |
| Total Expenses | 102.24 | 96.17 | 76.14 | 41.13 |
| Interest Expense | 1.73 | 0.46 | 0.14 | 0.10 |
| Interest Income | 2.19 | 5.69 | 6.58 | 4.07 |
| Research And Development | 84.41 | 73.70 | 54.04 | 25.24 |
| Selling General And Administration | 17.83 | 22.48 | 22.11 | 15.89 |
| Normalized EBITDA | -59.60 | -70.94 | -62.01 | -22.62 |
| Normalized Income | -67.67 | -72.81 | -63.53 | -23.08 |
| Basic EPS | -0.46 | -0.44 | -0.38 | -0.17 |
| Diluted EPS | -0.46 | -0.44 | -0.38 | -0.17 |
| Tax Effect Of Unusual Items | -0.47 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 | 0 |
| Total Unusual Items | -2.25 | -0.04 | -6.39 | -10.42 |
| Total Unusual Items Excluding Goodwill | -2.25 | -0.04 | -6.39 | -10.42 |
| Net Income From Continuing Operation Net Minority Interest | -69.46 | -72.85 | -69.92 | -33.50 |
| Reconciled Depreciation | 1.43 | 1.40 | 1.38 | 0.36 |
| Net Interest Income | 0.47 | 5.23 | 6.45 | 3.97 |
| Net Income From Continuing And Discontinued Operation | -69.46 | -72.85 | -69.92 | -33.50 |
| Total Operating Income As Reported | -65.46 | -78.10 | -76.32 | -38.16 |
| Diluted Average Shares | 150.94 | 165.96 | 185.61 | 191.60 |
| Basic Average Shares | 150.94 | 165.96 | 185.61 | 191.60 |
| Diluted NI Availto Com Stockholders | -69.46 | -72.85 | -69.92 | -33.50 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -69.46 | -72.85 | -69.92 | -33.50 |
| Net Income Continuous Operations | -69.46 | -72.85 | -69.92 | -33.50 |
| Other Income Expense | -2.25 | -0.04 | -6.39 | -10.42 |
| Special Income Charges | -2.23 | -0.07 | -6.34 | -10.44 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0.67 |
| Restructuring And Mergern Acquisition | 2.23 | 0.07 | 6.34 | 11.11 |
| Earnings From Equity Interest | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -0.02 | 0.03 | -0.05 | 0.01 |
| Net Non Operating Interest Income Expense | 0.47 | 5.23 | 6.45 | 3.97 |
| Interest Expense Non Operating | 1.73 | 0.46 | 0.14 | 0.10 |
| Interest Income Non Operating | 2.19 | 5.69 | 6.58 | 4.07 |
| General And Administrative Expense | 17.83 | 22.48 | 22.11 | 15.89 |
| Other Gand A | 17.83 | 22.48 | 22.11 | 15.89 |
| Operating Revenue | 39.02 | 18.14 | 6.17 | 14.08 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arbutus Biopharma Corporationthis co. | ABUS | $813M | - | 10.38 | -43.7% | -26.98 |
| Omada Health, Inc. | OMDA | $841M | - | 3.60 | -5.6% | -94.35 |
| OPKO Health, Inc. | OPK | $838M | - | 0.66 | -17.8% | -7.47 |
| MeiraGTx Holdings plc | MGTX | $828M | - | -126.06 | 1971.4% | -8.05 |
| First Tracks Biotherapeutics, Inc. | TRAX | $821M |
| - |
| - |
| -41.8% |
| - |
| Cullinan Therapeutics, Inc. | CGEM | $790M | - | 1.89 | -53.8% | -1.67 |
| Nutex Health Inc. | NUTX | $781M | 10.68 | 2.41 | 16.7% | 2.52 |
| U.S. Physical Therapy, Inc. | USPH | $780M | 74.22 | 2.35 | 3.2% | 12.74 |
| ARS Pharmaceuticals, Inc. | SPRY | $778M | - | 6.81 | -149.9% | -3.94 |
| Peer Median | - | 42.45 | 2.35 | -11.7% | -3.94 | |