Arbutus Biopharma Corporation Q3 FY2024 earnings call

• Focus on developing a functional cure for chronic HBV, highlighting the global challenge of chronic HBV affecting over 250 million people and the need for innovative combination therapies.
• IM-PROVE I trial: Cohort A1 showed 33% of patients achieved surface antigen loss sustained at 24 weeks post-treatment, with 67% of those with baseline surface antigen <1000 IU/mL maintaining loss. IM-PROVE II trial: imdusiran lowered surface antigen to <100 IU/mL in 95% of patients, more patients maintained low surface antigen with VTP-300 vs placebo, and expansion to add nivolumab is on track for AASLD data.
• AB-101 trial: Phase Ia/Ib ongoing, Part 3 in HBV patients starting, with data expected in first half 2025. Multiple ascending doses of AB-101 in healthy subjects were well tolerated with dose-dependent receptor occupancy.
• Litigation updates: Moderna trial date set for 9/24/2025; Pfizer/BioNTech Markman hearing scheduled for 12/18/2024.

No detailed financial performance for product segments provided in the transcript.

• Plan to advance imdusiran into Phase IIb clinical trial.
• Expect to report preliminary data from IM-PROVE II expansion (nivolumab arm) and AB-101 HBV patient data in first half 2025.
• Cash runway sufficient to fund operations into 4Q 2026.

• Forward-looking statements subject to risks described in SEC filings.
• Uncertainties related to litigation progress, including outcomes of the Markman hearing for Pfizer and trial dates for Moderna.

Q: Thoughts on functional cure data upcoming, including denominator and imdusiran lead-in A: Mike explains the 20% functional cure goal as aspirational, Karen clarifies IM-PROVE I trial design with A1 and A2 cohorts.

Q: Timing for Phase IIb A: Mike states they are working diligently on Phase IIb but no specific timing given.

Q: Clarity on AASLD presentation for IM-PROVE II A: Karen says the presentation will focus on Group C (nivolumab expansion cohort) of IM-PROVE II.

Q: Post-Markman hearing for Pfizer lawsuit A: Mike mentions waiting for the Markman hearing results, then expecting a court schedule and next steps.

Q: Cash runway including ATM proceeds A: Dave states cash runway assumes no financing from the ATM program.