Overview

* Arbutus Q2 revenue of $10.7 mln beats analyst expectations, per LSEG data

* Net income for Q2 beats estimates, contrasting with a loss last year

* Company reacquired Greater China rights to imdusiran, boosting revenue

Outlook

* Company holds global rights for imdusiran after ending Qilu partnership

* Arbutus focuses on cHBV programs following strategic partnership changes

* Ongoing litigation against Moderna and Pfizer/BioNTech may impact future results

Result Drivers

* REVENUE BOOST - Reacquisition of Greater China rights to imdusiran led to recognition of previously-deferred revenue

* COST REDUCTION - Streamlining efforts and workforce reduction decreased research and development expenses

* EXPENSE MANAGEMENT - Lower general and administrative expenses due to cost-cutting measures

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $10.70 $1.59

Revenue mln mln (4

Analysts

)

Q2 Net Beat $2.50 -$8.67

Income mln mln (2

Analysts

)

Q2 Cash $98.10

& mln

Investme

nts

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Arbutus Biopharma Corp ( ABUS ) is $5.00, about 31.8% above its August 5 closing price of $3.41

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)