2024 Q2 Form 10-Q Financial Statement
#000144702824000038 Filed on May 02, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $1.726M | $1.532M |
| YoY Change | -62.89% | -77.09% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $7.547M | $5.312M |
| YoY Change | 26.2% | -4.32% |
| % of Gross Profit | ||
| Research & Development | $15.55M | $15.40M |
| YoY Change | -12.1% | -15.72% |
| % of Gross Profit | ||
| Depreciation & Amortization | $356.0K | $355.0K |
| YoY Change | 4.09% | 6.29% |
| % of Gross Profit | ||
| Operating Expenses | $23.31M | $20.90M |
| YoY Change | 1.19% | -13.3% |
| Operating Profit | -$21.58M | -$19.36M |
| YoY Change | 17.39% | 11.2% |
| Interest Expense | $34.00K | $44.00K |
| YoY Change | -97.37% | -77.78% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $1.787M | $1.488M |
| YoY Change | 38.42% | 38.55% |
| Pretax Income | -$19.80M | -$17.88M |
| YoY Change | 15.81% | 9.4% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$19.80M | -$17.88M |
| YoY Change | 15.81% | 9.4% |
| Net Earnings / Revenue | -1146.93% | -1166.78% |
| Basic Earnings Per Share | -$0.11 | -$0.10 |
| Diluted Earnings Per Share | -$0.11 | -$0.10 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 188.7M shares | 179.5M shares |
| Diluted Shares Outstanding | 188.0M shares | 175.6M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $142.0M | $129.2M |
| YoY Change | -6.88% | -11.92% |
| Cash & Equivalents | $62.79M | $43.10M |
| Short-Term Investments | $79.20M | $86.14M |
| Other Short-Term Assets | $4.467M | $4.493M |
| YoY Change | 20.66% | 29.78% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $1.767M | $2.139M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $148.2M | $135.9M |
| YoY Change | -6.66% | -11.11% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $4.059M | $4.414M |
| YoY Change | -41.64% | -9.05% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $11.82M | $14.42M |
| YoY Change | -34.4% | -62.42% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $148.2M | $135.9M |
| Total Long-Term Assets | $11.82M | $14.42M |
| Total Assets | $160.0M | $150.3M |
| YoY Change | -9.49% | -21.41% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.652M | $3.743M |
| YoY Change | 154.02% | 52.46% |
| Accrued Expenses | $8.909M | $5.006M |
| YoY Change | 9.21% | -34.51% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $22.60M | $20.30M |
| YoY Change | -7.88% | -19.31% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $14.99M | $15.36M |
| YoY Change | -14.81% | -30.68% |
| Total Long-Term Liabilities | $14.99M | $15.36M |
| YoY Change | -14.81% | -30.68% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $22.60M | $20.30M |
| Total Long-Term Liabilities | $14.99M | $15.36M |
| Total Liabilities | $37.59M | $35.65M |
| YoY Change | -10.78% | -24.64% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$1.314B | -$1.295B |
| YoY Change | 6.23% | 6.1% |
| Common Stock | $1.403B | $1.377B |
| YoY Change | 4.4% | 2.83% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $122.5M | $114.6M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $160.0M | $150.3M |
| YoY Change | -9.49% | -21.41% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$19.80M | -$17.88M |
| YoY Change | 15.81% | 9.4% |
| Depreciation, Depletion And Amortization | $356.0K | $355.0K |
| YoY Change | 4.09% | 6.29% |
| Cash From Operating Activities | -$14.50M | -$19.30M |
| YoY Change | -25.84% | -29.32% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $1.000K | $95.00K |
| YoY Change | -99.88% | -18.8% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $9.830M | $11.79M |
| YoY Change | 327.39% | -29.81% |
| Cash From Investing Activities | $9.829M | $11.69M |
| YoY Change | 582.1% | -29.88% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 24.37M | $24.43M |
| YoY Change | 413.92% | 19.66% |
| NET CHANGE | ||
| Cash From Operating Activities | -14.50M | -$19.30M |
| Cash From Investing Activities | 9.829M | $11.69M |
| Cash From Financing Activities | 24.37M | $24.43M |
| Net Change In Cash | 19.69M | $16.82M |
| YoY Change | -247.24% | 71.63% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$14.50M | -$19.30M |
| Capital Expenditures | $1.000K | $95.00K |
| Free Cash Flow | -$14.50M | -$19.39M |
| YoY Change | -28.96% | -29.28% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
180192227 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
180192227 | shares |
| CY2024Q1 | us-gaap |
Revenues
Revenues
|
1532000 | usd |
| CY2023Q1 | us-gaap |
Revenues
Revenues
|
6687000 | usd |
| CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
15403000 | usd |
| CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
18275000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5312000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5552000 | usd |
| CY2024Q1 | abus |
Increase Decrease In Fair Value Of Contingent Consideration Liability
IncreaseDecreaseInFairValueOfContingentConsiderationLiability
|
180000 | usd |
| CY2023Q1 | abus |
Increase Decrease In Fair Value Of Contingent Consideration Liability
IncreaseDecreaseInFairValueOfContingentConsiderationLiability
|
273000 | usd |
| CY2024Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
20895000 | usd |
| CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
24100000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-19363000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-17413000 | usd |
| CY2024Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1545000 | usd |
| CY2023Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1268000 | usd |
| CY2024Q1 | us-gaap |
Interest Expense
InterestExpense
|
44000 | usd |
| CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
198000 | usd |
| CY2024Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-13000 | usd |
| CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
4000 | usd |
| CY2024Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1488000 | usd |
| CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1074000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-17875000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-16339000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.10 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.10 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.10 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.10 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
175625552 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
175625552 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
161643404 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
161643404 | shares |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
|
50000 | usd |
| CY2023Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
|
854000 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-17825000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-15485000 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
106018000 | usd |
| CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2014000 | usd |
| CY2024Q1 | abus |
Stock Issued During Period Value New Issues Open Market Sale Agreement
StockIssuedDuringPeriodValueNewIssuesOpenMarketSaleAgreement
|
21765000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2454000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
211000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
0 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
50000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-17875000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
114637000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
136852000 | usd |
| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2131000 | usd |
| CY2023Q1 | abus |
Stock Issued During Period Value New Issues Open Market Sale Agreement
StockIssuedDuringPeriodValueNewIssuesOpenMarketSaleAgreement
|
19862000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
259000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
296000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
854000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-16339000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
143915000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-16339000 | usd |
| CY2024Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
355000 | usd |
| CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
334000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2014000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2131000 | usd |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
180000 | usd |
| CY2023Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
273000 | usd |
| CY2024Q1 | abus |
Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
|
593000 | usd |
| CY2023Q1 | abus |
Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
|
1178000 | usd |
| CY2024Q1 | abus |
Non Cash Interest Expense Related To Sale Of Future Royalties
NonCashInterestExpenseRelatedToSaleOfFutureRoyalties
|
36000 | usd |
| CY2023Q1 | abus |
Non Cash Interest Expense Related To Sale Of Future Royalties
NonCashInterestExpenseRelatedToSaleOfFutureRoyalties
|
197000 | usd |
| CY2024Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
553000 | usd |
| CY2023Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
385000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
363000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1312000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
156000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
468000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-2024000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-6376000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-244000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-4104000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-72000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-74000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-19295000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-27301000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
25397000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
20205000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
37186000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
37000000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
95000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
117000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
11694000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
16678000 | usd |
| CY2024Q1 | abus |
Proceeds From Issuance Of Common Stock Open Market Sale Agreement
ProceedsFromIssuanceOfCommonStockOpenMarketSaleAgreement
|
21765000 | usd |
| CY2023Q1 | abus |
Proceeds From Issuance Of Common Stock Open Market Sale Agreement
ProceedsFromIssuanceOfCommonStockOpenMarketSaleAgreement
|
19862000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2454000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
259000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
211000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
296000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
24430000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
20417000 | usd |
| CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-13000 | usd |
| CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
16816000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
9798000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
26285000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
30776000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
43101000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
40574000 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Nature of business and future operations</span><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:120%">Arbutus Biopharma Corporation (“Arbutus” or “the Company”) is a clinical-stage biopharmaceutical company leveraging its extensive virology expertise to identify and develop novel therapeutics with distinct mechanisms of action, which can potentially be combined to provide a functional cure for patients with chronic hepatitis B virus (cHBV) infection. The Company believes the key to success in developing a functional cure involves suppressing hepatitis B virus deoxyribonucleic acid, reducing hepatitis B surface antigen and boosting HBV-specific immune responses. The Company’s pipeline of internally developed, proprietary compounds includes an RNAi therapeutic, imdusiran (AB-729), and an oral PD-L1 inhibitor, AB-101. Imdusiran has generated meaningful clinical data demonstrating an impact on both surface antigen reduction and reawakening of the HBV-specific immune response. Imdusiran is currently in three Phase 2a combination clinical trials. AB-101 is currently being evaluated in a Phase 1a/1b clinical trial. </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 Company continues to protect and defend its intellectual property, which is the subject of the Company’s on-going lawsuits against Moderna and Pfizer/BioNTech for their use of its patented LNP technology in their COVID-19 vaccines. With respect to the Moderna lawsuit, the claim construction hearing occurred on February 8, 2024. On April 3, 2024, the Court provided its claim construction ruling, in which it construed the disputed claim terms and agreed with Arbutus’ position on most of the disputed claim terms. Fact discovery is on-going and next steps include expert reports and depositions. A trial date has been set for April 21, 2025, and is subject to change. The lawsuit against Pfizer/BioNTech is ongoing and a date for a claim construction hearing has not been set. </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, 2024, the Company had an aggregate of $137.9 million in cash, cash equivalents and investments in marketable securities. The Company had no outstanding debt as of March 31, 2024. 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> | |
| CY2024Q1 | us-gaap |
Investments And Cash
InvestmentsAndCash
|
137900000 | usd |
| CY2024Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
0 | usd |
| CY2024Q1 | abus |
Wholly Owned Subsidiaries Includedin Financial Statements
WhollyOwnedSubsidiariesIncludedinFinancialStatements
|
1 | subsidiary |
| CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
19700000 | shares |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
7800000 | usd |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
200000 | usd |
| CY2023Q4 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
7600000 | usd |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
180000 | usd |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
7780000 | usd |
| CY2022Q4 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
7531000 | usd |
| CY2023Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
273000 | usd |
| CY2023Q1 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
7804000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
42 | numberofsegments |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
37 | numberofsegments |
| CY2023Q4 | us-gaap |
Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
|
600000 | usd |
| CY2024Q1 | us-gaap |
Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
|
600000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
|
100000 | usd |
| CY2023Q1 | us-gaap |
Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
|
0 | usd |
| CY2023Q1 | abus |
Liability Related To Sale Of Future Royalties Noncurrent
LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent
|
9384000 | usd |
| CY2024Q1 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
0 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
3743000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
3223000 | usd |
| CY2024Q1 | abus |
Accrued Research And Development
AccruedResearchAndDevelopment
|
1940000 | usd |
| CY2023Q4 | abus |
Accrued Research And Development
AccruedResearchAndDevelopment
|
2884000 | usd |
| CY2024Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
1173000 | usd |
| CY2023Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
815000 | usd |
| CY2024Q1 | abus |
Accrued Payroll Current
AccruedPayrollCurrent
|
1391000 | usd |
| CY2023Q4 | abus |
Accrued Payroll Current
AccruedPayrollCurrent
|
3349000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
8247000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
10271000 | usd |
| CY2023Q4 | abus |
Liability Related To Sale Of Future Royalties Noncurrent
LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent
|
6953000 | usd |
| CY2022Q4 | abus |
Liability Related To Sale Of Future Royalties Noncurrent
LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent
|
10365000 | usd |
| CY2024Q1 | abus |
Liability From Sale Of Future Royalties Non Cash Royalty Income
LiabilityFromSaleOfFutureRoyaltiesNonCashRoyaltyIncome
|
593000 | usd |
| CY2023Q1 | abus |
Liability From Sale Of Future Royalties Non Cash Royalty Income
LiabilityFromSaleOfFutureRoyaltiesNonCashRoyaltyIncome
|
1178000 | usd |
| CY2024Q1 | abus |
Liability From Sale Of Future Royalties Non Cash Interest Expense
LiabilityFromSaleOfFutureRoyaltiesNonCashInterestExpense
|
36000 | usd |
| CY2023Q1 | abus |
Liability From Sale Of Future Royalties Non Cash Interest Expense
LiabilityFromSaleOfFutureRoyaltiesNonCashInterestExpense
|
197000 | usd |
| CY2024Q1 | abus |
Liability Related To Sale Of Future Royalties Noncurrent
LiabilityRelatedToSaleOfFutureRoyaltiesNoncurrent
|
6396000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
11547000 | usd |
| CY2024Q1 | abus |
Royalty Entitlements
RoyaltyEntitlements
|
2 | product |
| CY2024Q1 | us-gaap |
Revenues
Revenues
|
1532000 | usd |
| CY2023Q1 | us-gaap |
Revenues
Revenues
|
6687000 | usd |
| CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1164000 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.40 | |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.90 | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
1316200 | shares |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
1344550 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
2.40 | |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
2.90 | |
| CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2014000 | usd |
| CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2131000 | usd |
