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Arbutus Reports Fourth Quarter and Year End 2024 Financial Results and Provides Corporate Update
Claim construction hearing for Pfizer/BioNTech mRNA-LNP vaccine litigation occurred in December 2024; outcome pending Jury trial in Moderna U.S. mRNA-LNP
About this update from Arbutus Biopharma Corporation
[{"type":"text","content":"Claim construction hearing for Pfizer/BioNTech mRNA-LNP vaccine litigation occurred in December 2024; outcome pending Jury trial in Moderna U.S. mRNA-LNP vaccine litigation scheduled for September 2025 Reviewing pipeline and development plans for HBV programs Continued focus on efficient deployment of financial resources and personnel – terminated ATM program and implemented reduction of workforce by 57% in Q1 2025 Board has approved further changes to executive leadership team; including the appointment of Tuan Nguyen as Chief Financial Officer Strong financial position with cash, cash equivalents and investments in marketable securities of $123M WARMINSTER, Pa., March 27, 2025 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (Nasdaq: ABUS) (“Arbutus” or the “Company”), a clinical-stage biopharmaceutical company focused on infectious disease, today reported fourth quarter and year end 2024 financial results and provided a corporate update. “With my recent appointment as CEO of Arbutus, I am excited to lead the company into its next chapter,” said Lindsay Androski, President and CEO of Arbutus. “Along with Arbutus’ new directors, my focus is on evaluating strategies to accelerate the development and potential approval of imdusiran, alongside several subject matter experts being retained to assist with this evaluation. As part of this review, we have implemented a reduction in our workforce of 57%, retaining a core team well-positioned to advance imdusiran into a Phase 2b trial, and have taken additional related steps to improve our financial and operational efficiency. We will provide an update on our pipeline and development timeline upon completion of our review of our chronic hepatitis B virus (cHBV) programs.” Ms. Androski continued, “I am also excited to welcome Tuan Nguyen to our leadership team as Chief Financial Officer. Tuan’s appointment reinforces our renewed focus on advancing our pipeline efficiently and delivering value to patients and our stakeholders. In addition, the Company announced today the departure of David Hastings, Karen Sims and Christopher Naftzger, and I would like to thank them for their valuable contributions over the past years. We will continue to consult closely with and support our exclusive licensee Genevant Sciences to protect and defend our intellectual property, including through recently f...