Arbutus Biopharma (ABUS)

Executive Summary

Arbutus Biopharma is a clinical-stage virology-focused biotechnology company dedicated to developing a functional cure for chronic hepatitis B (cHBV). The company’s proprietary approach combines three complementary mechanisms: Suppress (nucleos(t)ide analogues), Reduce (RNA interference to lower viral antigens), and Boost (immune modulation). This strategy targets the high medical need of over 250 million patients globally. Arbutus’s lead asset, Imdusiran (AB-729), an RNAi therapy that reduces hepatitis B surface antigen, is in Phase 2 trials. Additionally, AB-101, an oral PD-L1 inhibitor, is being evaluated in a Phase 1 study. Despite a history of terminated trials, the company has refocused its pipeline on cHBV and continues to leverage its lipid nanoparticle (LNP) technology, which is also used in mRNA vaccines.

Upcoming Catalysts (preview)

• Q2 2026AB-101 Phase 1 Data Readout65% success
• H2 2026Imdusiran (AB-729) Phase 2 Interim Data60% success
• TBDPotential LNP Technology Licensing Deal40% success