Michael McElhaugh stated, "We made significant advancements in our pursuit of developing a functional cure for patients with hepatitis B..."
— Michael McElhaugh
03Detailed Report
ABUS
Arbutus Biopharma Corporation
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 20, 2026
Swipe to view all report sections
Executive Summary
Arbutus Biopharma Corporation (ABUS) reported their Q2 2024 results with a total revenue of $1.726 million, indicating a significant decline of 62.89% year-over-year, yet a 12.66% improvement quarter-over-quarter. The company continues to pursue advancements in developing a functional cure for Hepatitis B, recently reporting promising Phase 2a trial results regarding their RNAi therapeutic imdusiran mixed with immunomodulators. While the financial results showcase ongoing operating losses, management has restructured to extend their cash runway into Q4 2026, potentially positioning the company favorably for future development. However, the reduction in workforce by 40% and discontinuation of certain trials signal challenges ahead, reflected in the net income loss of $19.796 million for the quarter. Investors should carefully evaluate these developments against their long-term strategies.
Key Performance Indicators
Revenue
Decreasing
1.73M
QoQ: 12.66% | YoY: -62.89%
Gross Profit
Decreasing
1.37M
79.37% margin
QoQ: 16.40% | YoY: -68.21%
Operating Income
Decreasing
-21.37M
QoQ: -11.41% | YoY: -16.25%
Net Income
Decreasing
-19.80M
QoQ: -10.75% | YoY: -15.81%
EPS
Decreasing
-0.11
QoQ: -10.00% | YoY: -10.00%
Revenue Trend
Margin Analysis
Financial Highlights
Key financial metrics from Q2 2024 show total revenue of $1.726 million with a gross profit margin of 79.37%. Operating expenses reached $22.742 million, yielding an operating loss of $21.372 million, and net income loss of approximately $19.796 million, equating to an EPS of -$0.11. Notably, cash and cash equivalents at the end of the quarter totaled $62.788 million, up from $43.101 million at the beginning of the quarter, following positive adjustments in financing activities. The current ratio stands at an impressive 6.56, indicating solid short-term liquidity.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
1.73M
-62.89%
12.66%
Gross Profit
1.37M
-68.21%
16.40%
Operating Income
-21.37M
-16.25%
-11.41%
Net Income
-19.80M
-15.81%
-10.75%
EPS
-0.11
-10.00%
-10.00%
Key Financial Ratios
Gross Profit Margin
Excellent
79.40%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Weak
-12.38%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-11.47%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.12%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.16%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
6.56
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.06
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-7.41x
Negative earnings make P/E ratio not meaningful
Price to Book
Premium
4.79x
Trading at premium to book value, reflects strong intangibles or growth
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.