Arbutus Biopharma Corp. (ABUS), a biopharmaceutical company, has gained an increase of 2.39% in aftermarket trading session. Consequently, ABUS is trading at $4.72 at the time of the writing. On Wednesday, ABUS closed the day at $4.61 after soaring 44.06% during the mid-day session. The mammoth increase was attributable to the positive preliminary data depicting safety of Capsid Inhibitor, AB-836.
Why ABUS Stock Surged
On Wednesday, ABUS announced the preliminary data from its ongoing phase 1a/1b clinical trial. The trial demonstrated that the company’s next-generation Capsid-Inhibitor, AB-836, is safe and well-tolerated in both healthy subjects and patients with cHBC. It also provided a robust antiviral activity. The phase 1a/1b trial was conducted to evaluate the safety and tolerability and antiviral activity of single and multiple doses of AB-836 in the healthy subjects and the patients having cHBC.
Operational Results for Q3 2021
On 4th November, ABUS released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $3.34 million during the quarter against $1.52 million during the same quarter of 2020. The company suffered a loss of $18.4 million from the operations during the quarter against $15.2 million for the same quarter of 2020. The net loss suffered by the company during the period was $19.15 million (or $0.24 per basic and diluted share) against $18.75 million (or $0.27 per basic and diluted share) for the same period of 2020.
Executive Commentary
William Collier, President and Chief Executive Officer of ABUS, while commenting on the results said that the company is impressed with the continued development of HBV. These assets align with its novel three-pronged approach to develop an HBV functional via suppressing HBV DNA. He hoped that the company would continue to bring further improvements in its financial stature during upcoming quarters.
Future Outlook for ABUS
The last three months have seen ABUS stock surge by more than 30%. Most of that increase was on account of positive developments related to the stock in the form of research results for AB-836. Analysts are confident that the company is in a good position to continue this performance in near future.
