Earnings ·
Reports Q3 net income of $59.1M and returns $230M to shareholders via tender offer
ABUSArbutus Biopharma Corp
Arbutus Biopharma reported a third-quarter net income of $59.1 million, or $0.30 per share, driven by a $67.3 million cash dividend from licensee Genevant Sciences. The company also completed a modified Dutch auction tender offer in early October, repurchasing 46 million shares at $5.00 each to return $230 million of capital to investors. Cash and marketable securities stood at $337.5 million as of September 30. Additionally, the FDA lifted a clinical hold on the oral PD-L1 inhibitor AB-101, allowing for further U.S. development, while Arbutus expanded patent infringement lawsuits against Pfizer and BioNTech in Japan and Canada. The company operates as a clinical-stage biopharmaceutical firm focused on infectious diseases.