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Arbutus Biopharma Corporation (ABUS) Stock is Accelerating in the Market Despite any Clear Reason

Arbutus Biopharma Corporation (ABUS) is one of the leading biopharmaceutical companies focusing on the discovery, development, and commercialization of candidate products related to patients infected with chronic Hepatitis B Virus (HBV) infection. Major candidates for the treatment of HBV include RNA interference (RNAi) biotherapeutics, oral capsid inhibitors, oral HBV RNA destabilizers, and oral compounds that inhibit PD-L1.

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The price of ABUS stock during the regular trading session of December 20, 2021, at last check, was $4.34 with a slight gain of 1.52%.

Events and Happenings

On December 13, 2021, ABUS and Qilu Pharmaceutical reported about their collaboration. The firms had bound for the licensing and strategic collaboration for the development and marketing of AB-729 for the cure of HBV in China and associated regions.

On December 07, 2021, ABUS, X-Chem, and Proteros informed that ABUS had recognized the molecules that blocked the confirmed target for the treatment of COVID-19. The accomplishment brought with it for ABUS, a global exclusive license for the recognized molecules.

On December 01, 2021, ABUS reported the initial outcomes from its Phase 1a/1b clinical trials representing that the company’s next-generation capsid inhibitor, AB-836, was safe and well-tolerated in both control groups and patients infected with cHBV and offers vigorous antiviral activity.

On November 10, 2021, ABUS reported the new AB-729 safety and efficacy data, as well as continuing statistics from HBV infected patients after withdrawal of treatment with AB-729. The outcomes were from part 3 of the ABUS clinical trials for Phase 1a/1b, with the dose range of 60 mg or 90 mg of AB-729 treated at specific intervals. The findings were represented at AASLD in a poster presentation.

On November 10, 2021, ABUS informed that the top management of the company participated at the Virtual Jefferies London Healthcare Conference.

Key Financials

On November 04, 2021, ABUS announced its third-quarter 2021 financial results ended September 30, 2021. Some of the key financial highlights are as follows.

Net Loss per Share

Basic and diluted net loss for third-quarter 2021 was $24.2 million or $0.24 per share as opposed to $21.8 million or $0.27 per share for the same period of 2020.

Revenue and Total Current Assets

Total revenue reported for the company for Q3 2021 was $3.3 million as compared to $1.5 million for the same period of 2020. Total current assets for the company were $126 million for the third quarter of 2021 as opposed to the same period of 2020 when it was $121 million.

Conclusion

The ABUS stock showed a significant increase of 40% during the past month which is the result of the company’s strategic policies and the trust of the shareholders in the company. The reason for the incline is possibly different collaborations working out in the company’s favor.

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