Quarterly ResultMay 13, 2026, 07:32 AM
Arbutus Q1 Net Income $169.7M; Moderna Settlement $950M Upfront
AI Summary
Arbutus Biopharma reported a net income of $169.7 million for Q1 2026, a significant turnaround from a $24.5 million net loss in Q1 2025. This was primarily driven by a $950 million upfront settlement with Moderna related to LNP patent infringement litigation, from which Arbutus expects to receive an estimated $178.7 million in July 2026. Additionally, the FDA granted Fast Track designation to imdusiran for chronic hepatitis B treatment, aiming to expedite its development and review.
Key Highlights
- Moderna settlement includes $950M upfront payment in July 2026 and a contingent $1.3B.
- Arbutus expects to receive an estimated $178.7M from the upfront settlement payment.
- Q1 2026 total revenue was $179.1M, significantly up from $1.8M in Q1 2025.
- Q1 2026 net income was $169.7M ($0.88 EPS), compared to a net loss of $24.5M ($0.13 loss per share) in Q1 2025.
- Cash, cash equivalents, and marketable securities stood at $95.2M as of March 31, 2026.
- FDA granted Fast Track designation for imdusiran for chronic hepatitis B treatment.
- Research and development expenses decreased to $4.1M in Q1 2026 from $9.0M in Q1 2025.
- Net cash used in operating activities was $8.1M in Q1 2026.