VANCOUVER, British Columbia and DOYLESTOWN, Pa., Aug. 04, 2016 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (Nasdaq:ABUS), an industry-leading Hepatitis B Virus (HBV) therapeutic solutions company, today announced its second quarter 2016 unaudited financial results and provided a corporate update.
"We are on track to deliver clinical data from our lead HBV program ARB-1467 in the second half of this year. We are driven by our belief in a combination strategy and a willingness to eliminate assets which are not promising. Our thorough preclinical research efforts have led us to discontinue the TLR9 program and to further explore the biology of our cccDNA program before advancing an agent into the clinic, triggering a non-cash in-process R&D impairment charge of $156 million in the second quarter,” said Dr. Mark J. Murray, Arbutus’ President and CEO. “We believe that our expanding knowledge base on the biology of a variety of promising mechanisms of action to treat HBV enhances our leadership position in the HBV field and will inform the execution of our combination therapy strategy. In addition, we are the leaders in LNP delivery and continue to evaluate opportunities to monetize our platform technology and extend our cash runway.”
"We are on track to deliver clinical data from our lead HBV program ARB-1467 in the second half of this year. We are driven by our belief in a combination strategy and a willingness to eliminate assets which are not promising. Our thorough preclinical research efforts have led us to discontinue the TLR9 program and to further explore the biology of our cccDNA program before advancing an agent into the clinic, triggering a non-cash in-process R&D impairment charge of $156 million in the second quarter,” said Dr. Mark J. Murray, Arbutus’ President and CEO. “We believe that our expanding knowledge base on the biology of a variety of promising mechanisms of action to treat HBV enhances our leadership position in the HBV field and will inform the execution of our combination therapy strategy. In addition, we are the leaders in LNP delivery and continue to evaluate opportunities to monetize our platform technology and extend our cash runway.”
