Arbutus Announces 2021 Corporate Objectives and Provides Financial Update
WARMINSTER, Pa., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (Nasdaq: ABUS), a clinical-stage biopharmaceutical
company primarily focused on developing a cure for people with chronic hepatitis B virus (HBV) infection, as well as therapies to treat coronaviruses
(including COVID-19), today announced its 2021 corporate objectives and provided a financial update.
William Collier, President and CEO, stated, “We begin 2021 on solid footing from both a pipeline and financial perspective. Our lead clinical asset,
AB-729, continues to demonstrate positive data in an ongoing Phase 1a/b clinical trial and we look forward to initiating several Phase 2a clinical trials
in 2021. We believe AB-729 could become a cornerstone drug in future combination regimens to cure chronic hepatitis B.” Mr. Collier added, “AB-836,
our oral capsid inhibitor, is expected to enter a Phase 1a/1b clinical trial in the first half of this year.”
Summary of 2021 Corporate Objectives:
Provide additional data from ongoing cohorts of the Phase 1a/1b clinical trial of AB-729 in the first half of 2021 (except for
initial data from the 90 mg every 12 week cohort which is expected in the second half of 2021).
Initiate a Phase 2a combination clinical trial to evaluate AB-729 in combination with Assembly Biosciences’ lead
core/capsid inhibitor candidate vebicorvir (VBR) and a nucleos(t)ide reverse transcriptase inhibitor (NrtI) for the treatment of
subjects with chronic HBV infection in the first half of 2021.
Initiate two Phase 2a combination clinical trials in HBV subjects, both including AB-729 with one or more approved or
investigational agents, in the second half of 2021.
Initiate a Phase 1a/1b clinical trial of AB-836, our next-generation oral capsid inhibitor, in the first half of 2021.
The company expects to continue to advance its research in the oral PD-L1 inhibitor, RNA-destabilizer and coronavirus
Arbutus had approximately $123.3 million (unaudited) in cash, cash equivalents and investments as of December 31, 2020.
The preliminary cash, cash equivalents and investments as of December 31, 2020 were calculated prior to the completion
of a review by Arbutus’ independent registered public accounting firm and are therefore subject to adjustment.
We expect our net cash burn to range from $70 to $75 million in 2021 and therefore our cash runway extends to mid-2022.