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Arbutus Reports First Quarter 2020 Financial Results, Provides Pipeline Update and Announces New Research Initiative to Identify Novel Antiviral Therapies for the Treatment of Coronavirus Infections
Arbutus remains on track to achieve its key 2020 objectives despite COVID-19 challenges Conference Call and Webcast Scheduled Today at 8:00 AM ET WARMINSTER,
About this update from Arbutus Biopharma Corporation
[{"type":"text","content":"Arbutus remains on track to achieve its key 2020 objectives despite COVID-19 challenges\n Conference Call and Webcast Scheduled Today at 8:00 AM ET WARMINSTER, Pa., May 11, 2020 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (Nasdaq: ABUS), a clinical-stage biopharmaceutical company focused on developing a cure for people with chronic hepatitis B virus (HBV) infection, today reports its first quarter 2020 financial results, provides a pipeline update and announces the establishment of a new research initiative focused on the identification of novel therapies to combat COVID-19. William Collier, President and Chief Executive Officer of Arbutus, stated, “As we announced in March, preliminary results from an ongoing Phase 1a/1b clinical trial for our lead compound, AB-729, demonstrate that it is a potent RNAi agent capable of reducing HBsAg plasma levels. We are on track to have additional results from the week 12 portion of the 60 mg single-dose cohort in the second quarter of 2020.” Mr. Collier added, “Despite the challenges of COVID-19, we have not had to alter our objectives for 2020. However, future disruptions related to the COVID-19 pandemic could negatively impact our plans and timelines, including enrolling and monitoring subjects in the trial. We remain focused on developing a portfolio of products, with different mechanisms of action, that when used in combination could result in a functional cure for HBV.” The Arbutus 2020 objectives include: advancing the Phase 1a/1b clinical trial of AB-729, a proprietary GalNAc delivered RNAi compound;progressing our next-generation capsid inhibitor AB-836 through IND-enabling studies; and,continuing our preclinical research to develop an oral HBV RNA-destabilizer and an oral anti-PD-L1 inhibitor. Also, during the first quarter, and under the direction of Arbutus’ Chief Scientific Officer, Dr. Michael Sofia, the Company has initiated an internal research program to identify new small molecule antiviral medicines to treat COVID-19 and future coronavirus outbreaks. Dr. Sofia, who was awarded the Lasker-DeBakey Award for his discovery of sofosbuvir, brings extensive antiviral drug discovery experience to this new program. Arbutus has also joined forces with the COVID R&D consortium to further support and expedite efforts to address the COVID-19 pandemic. The establishment of the COVI...