$ABUS
Arbutus Biopharma Corp Stock $abus

$abus Overview Financials Valuation SEC Filings Company Website

2022 Q1 Form 10-Q Financial Statement

#000144702822000025 Filed on May 05, 2022

Income Statement

Concept	2022 Q1	2021 Q1
Revenue	$12.58M	$2.113M
YoY Change	495.41%	41.72%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$4.892M	$3.850M
YoY Change	27.06%	8.45%
% of Gross Profit
Research & Development	$18.46M	$13.78M
YoY Change	33.96%	32.32%
% of Gross Profit
Depreciation & Amortization	$394.0K	$443.0K
YoY Change	-11.06%	-11.4%
% of Gross Profit
Operating Expenses	$23.56M	$17.79M
YoY Change	32.41%	21.53%
Operating Profit	-$10.97M	-$15.68M
YoY Change	-29.99%	19.24%
Interest Expense	$506.0K	$772.0K
YoY Change	-34.46%	-25.84%
% of Operating Profit
Other Income/Expense, Net	-$347.0K	-$705.0K
YoY Change	-50.78%	-1.26%
Pretax Income	-$11.32M	-$16.38M
YoY Change	-30.89%	18.18%
Income Tax	$4.444M	$0.00
% Of Pretax Income
Net Earnings	-$15.77M	-$16.38M
YoY Change	-3.76%	18.18%
Net Earnings / Revenue	-125.31%	-775.25%
Basic Earnings Per Share	-$0.11	-$0.21
Diluted Earnings Per Share	-$0.11	-$0.21
COMMON SHARES
Basic Shares Outstanding	148.4M shares	93.43M shares
Diluted Shares Outstanding	148.4M shares	93.43M shares

Balance Sheet

Concept	2022 Q1	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$165.5M	$132.0M
YoY Change	25.4%	55.43%
Cash & Equivalents	$81.33M	$79.42M
Short-Term Investments	$84.15M	$52.54M
Other Short-Term Assets	$5.908M	$4.100M
YoY Change	44.1%	70.83%
Inventory
Prepaid Expenses
Receivables	$1.313M	$1.265M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$172.7M	$137.3M
YoY Change	25.74%	55.48%
LONG-TERM ASSETS
Property, Plant & Equipment	$5.664M	$6.584M
YoY Change	-13.97%	-19.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$0.00	$0.00
YoY Change		-100.0%
Other Assets	$190.0K	$0.00
YoY Change		-100.0%
Total Long-Term Assets	$64.18M	$8.899M
YoY Change	621.19%	-37.69%
TOTAL ASSETS
Total Short-Term Assets	$172.7M	$137.3M
Total Long-Term Assets	$64.18M	$8.899M
Total Assets	$236.9M	$146.2M
YoY Change	61.98%	42.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.194M	$400.0K
YoY Change	198.5%	-88.89%
Accrued Expenses	$7.960M	$6.100M
YoY Change	30.49%	1425.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$32.41M	$6.693M
YoY Change	384.22%	66.04%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$38.62M	$25.40M
YoY Change	52.06%	0.4%
Total Long-Term Liabilities	$38.62M	$25.40M
YoY Change	52.06%	0.4%
TOTAL LIABILITIES
Total Short-Term Liabilities	$32.41M	$6.693M
Total Long-Term Liabilities	$38.62M	$25.40M
Total Liabilities	$71.03M	$32.09M
YoY Change	121.35%	9.31%
SHAREHOLDERS EQUITY
Retained Earnings	-$1.150B	-$1.066B
YoY Change	7.94%	7.97%
Common Stock	$1.298B	$1.013B
YoY Change	28.14%	11.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$165.8M	$114.1M
YoY Change
Total Liabilities & Shareholders Equity	$236.9M	$146.2M
YoY Change	61.98%	42.51%

Cashflow Statement

Concept	2022 Q1	2021 Q1
OPERATING ACTIVITIES
Net Income	-$15.77M	-$16.38M
YoY Change	-3.76%	18.18%
Depreciation, Depletion And Amortization	$394.0K	$443.0K
YoY Change	-11.06%	-11.4%
Cash From Operating Activities	$20.62M	-$17.88M
YoY Change	-215.31%	15.71%
INVESTING ACTIVITIES
Capital Expenditures	$75.00K	$99.00K
YoY Change	-24.24%
Acquisitions
YoY Change
Other Investing Activities	-$59.98M	$18.32M
YoY Change	-427.41%	-863.33%
Cash From Investing Activities	-$60.06M	$18.22M
YoY Change	-429.6%	-858.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$26.42M
YoY Change		114.53%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$11.49M	$26.87M
YoY Change	-57.26%	115.32%
NET CHANGE
Cash From Operating Activities	$20.62M	-$17.88M
Cash From Investing Activities	-$60.06M	$18.22M
Cash From Financing Activities	$11.49M	$26.87M
Net Change In Cash	-$27.95M	$27.17M
YoY Change	-202.88%	-604.74%
FREE CASH FLOW
Cash From Operating Activities	$20.62M	-$17.88M
Capital Expenditures	$75.00K	$99.00K
Free Cash Flow	$20.54M	-$17.98M
YoY Change	-214.26%	16.35%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2022Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	18974
CY2022Q1	dei	Document Type DocumentType	10-Q
CY2022Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q1	dei	Document Period End Date DocumentPeriodEndDate	2022-03-31
CY2022Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q1	dei	Entity File Number EntityFileNumber	001-34949
CY2022Q1	dei	Entity Registrant Name EntityRegistrantName	ARBUTUS BIOPHARMA CORP
CY2022Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	A1
CY2022Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	98-0597776
CY2022Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	701 Veterans Circle
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CY2022Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	PA
CY2022Q1	dei	City Area Code CityAreaCode	267
CY2022Q1	dei	Local Phone Number LocalPhoneNumber	469-0914
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CY2022Q1	dei	Trading Symbol TradingSymbol	ABUS
CY2022Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
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CY2021Q1	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	20350000	USD
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	75000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	99000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-60056000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	18221000	USD
CY2022Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	8000	USD
CY2021Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	208000	USD
CY2022Q1	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	236000	USD
CY2021Q1	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	247000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	11485000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	26874000	USD
CY2022Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	0	USD
CY2021Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-44000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-27952000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	27170000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	109282000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	52251000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	81330000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	79421000	USD
CY2022Q1	us-gaap	Dividends Preferred Stock Cash DividendsPreferredStockCash	0	USD
CY2021Q1	us-gaap	Dividends Preferred Stock Cash DividendsPreferredStockCash	3212000	USD
CY2022Q1	us-gaap	Nature Of Operations NatureOfOperations	Nature of business and future operations<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Description of the Business</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Arbutus Biopharma Corporation (“Arbutus” or the “Company”) is a clinical-stage biopharmaceutical company leveraging its extensive virology expertise to develop novel therapeutics that target specific viral diseases. The Company’s current focus areas include Hepatitis B virus (“HBV”) and coronaviruses, including SARS-CoV-2. In HBV, the Company is developing an RNA interference (“RNAi”) therapeutic, oral capsid inhibitor, oral PD-L1 inhibitor, and oral RNA destabilizer that it intends to combine to provide a functional cure for patients with chronic HBV infection (“cHBV”) by suppressing viral replication, reducing surface antigen and reawakening the immune system. The Company believes its lead compound, AB-729, is the only RNAi therapeutic with evidence of immune re-awakening, and is currently being evaluated in multiple phase 2 clinical trials. The Company has an ongoing drug discovery and development program directed to identifying novel, orally active agents for treating coronaviruses, including SARS-CoV-2. The Company is also exploring oncology applications for its internal PD-L1 portfolio.</span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Liquidity</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At March 31, 2022, the Company had an aggregate of $221.8 million in cash, cash equivalents and investments in marketable securities. The Company had no outstanding debt as of March 31, 2022. The Company believes it has sufficient cash resources to fund its operations for at least the next 12 months. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The success of the Company is dependent on obtaining the necessary regulatory approvals to bring its products to market and achieve profitable operations. The Company’s research and development activities and the commercialization of its products are dependent on its ability to successfully complete these activities and to obtain adequate financing through a combination of financing activities and operations. It is not possible to predict either the outcome of the Company’s existing or future research and development programs or the Company’s ability to continue to fund these programs in the future.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">COVID-19 Impact </span></div>The COVID-19 pandemic has resulted in and will likely continue to result in significant disruptions to businesses. Measures implemented around the world in attempts to slow the spread of COVID-19 have had, and will likely continue to have, a major impact on clinical development, at least in the near-term, including shortages and delays in the supply chain and prohibitions in certain countries on enrolling patients in new clinical trials. While the Company has been able to progress with its clinical and pre-clinical activities to date, it is not possible to predict if the COVID-19 pandemic will materially impact the Company’s plans and timelines in the future.
CY2022Q1	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	221800000	USD
CY2022Q1	us-gaap	Long Term Debt LongTermDebt	0	USD
CY2022Q1	abus	Wholly Owned Subsidiaries Includedin Financial Statements WhollyOwnedSubsidiariesIncludedinFinancialStatements	1	subsidiary
CY2021Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	35000000	shares
CY2021Q4	us-gaap	Convertible Preferred Stock Shares Issued Upon Conversion ConvertiblePreferredStockSharesIssuedUponConversion	22833922	shares
CY2022Q1	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	5500000	USD
CY2022Q1	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	200000	USD
CY2021Q4	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	5298000	USD
CY2022Q1	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	201000	USD
CY2022Q1	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	5499000	USD
CY2020Q4	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	3426000	USD
CY2021Q1	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	129000	USD
CY2021Q1	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	3555000	USD
CY2022Q1	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	84100000	USD
CY2022Q1	us-gaap	Available For Sale Securities Debt Securities Noncurrent AvailableForSaleSecuritiesDebtSecuritiesNoncurrent	56300000	USD
CY2021Q4	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	46000000	USD
CY2021Q4	us-gaap	Long Term Investments LongTermInvestments	35700000	USD
CY2022Q1	us-gaap	Debt Securities Realized Gain Loss DebtSecuritiesRealizedGainLoss	0	USD
CY2021Q1	us-gaap	Debt Securities Realized Gain Loss DebtSecuritiesRealizedGainLoss	0	USD
CY2021Q1	us-gaap	Debt Securities Realized Gain Loss DebtSecuritiesRealizedGainLoss	0	USD
CY2022Q1	us-gaap	Debt Securities Realized Gain Loss DebtSecuritiesRealizedGainLoss	0	USD
CY2022Q1	us-gaap	Equity Method Investments EquityMethodInvestments	0	USD
CY2021Q4	us-gaap	Accounts Payable Trade Current AccountsPayableTradeCurrent	3174000	USD
CY2022Q1	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	610000	USD
CY2022Q1	us-gaap	Accounts Payable Trade Current AccountsPayableTradeCurrent	1194000	USD
CY2022Q1	abus	Accrued Research And Development AccruedResearchAndDevelopment	5462000	USD
CY2021Q4	abus	Accrued Research And Development AccruedResearchAndDevelopment	2371000	USD
CY2021Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	983000	USD
CY2022Q1	abus	Accrued Payroll Current AccruedPayrollCurrent	1438000	USD
CY2021Q4	abus	Accrued Payroll Current AccruedPayrollCurrent	4279000	USD
CY2022Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	11000	USD
CY2021Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	31000	USD
CY2022Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	8715000	USD
CY2021Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	10838000	USD
CY2021Q4	abus	Liability Related To Sale Of Future Royalties Noncurrent LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent	16296000	USD
CY2020Q4	abus	Liability Related To Sale Of Future Royalties Noncurrent LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent	19554000	USD
CY2022Q1	abus	Liability From Sale Of Future Royalties Non Cash Royalty Income LiabilityFromSaleOfFutureRoyaltiesNonCashRoyaltyIncome	1363000	USD
CY2021Q1	abus	Liability From Sale Of Future Royalties Non Cash Royalty Income LiabilityFromSaleOfFutureRoyaltiesNonCashRoyaltyIncome	959000	USD
CY2022Q1	abus	Liability From Sale Of Future Royalties Non Cash Expense LiabilityFromSaleOfFutureRoyaltiesNonCashExpense	506000	USD
CY2021Q1	abus	Liability From Sale Of Future Royalties Non Cash Expense LiabilityFromSaleOfFutureRoyaltiesNonCashExpense	771000	USD
CY2022Q1	abus	Liability Related To Sale Of Future Royalties Noncurrent LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent	15439000	USD
CY2021Q1	abus	Liability Related To Sale Of Future Royalties Noncurrent LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent	19366000	USD
CY2022Q1	us-gaap	Premiums Earned Net PremiumsEarnedNet	4100000	USD
CY2022Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	38840000	USD
CY2022Q1	abus	Royalty Entitlements RoyaltyEntitlements	2	product
CY2022Q1	us-gaap	Revenues Revenues	12581000	USD
CY2021Q1	us-gaap	Revenues Revenues	2113000	USD
CY2022Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1164000	shares
CY2022Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	2.81
CY2021Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	4.33
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1736000	USD
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1635000	USD
CY2021Q4	us-gaap	Convertible Preferred Stock Shares Issued Upon Conversion ConvertiblePreferredStockSharesIssuedUponConversion	22833922	shares

Files In Submission

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2022 Q1 Form 10-Q Financial Statement

#000144702822000025 Filed on May 05, 2022

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2022 Q1 Form 10-Q Financial Statement

#000144702822000025 Filed on May 05, 2022

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