Stock Track | Arbutus Biopharma Shares Slide Despite Positive Drug Trial Data

Stock Track

2024/11/06

Shares of Arbutus Biopharma Corp. (ABUS) plummeted by 5.30% on Tuesday, November 6th, as the company reported mixed financial results for the third quarter of 2024.

The biopharmaceutical company reported a loss of $0.10 per share, slightly worse than analysts' expectations of a $0.09 loss. Revenue for the quarter came in at $1.34 million, missing the consensus estimate of $1.86 million by a significant margin.

Despite the disappointing financial performance, Arbutus announced promising results from its Phase 2a clinical trials for imdusiran, a potential treatment for chronic hepatitis B virus (HBV) infection. The company reported positive safety and efficacy data, suggesting that imdusiran could be an effective therapy for HBV patients.

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(ABUS) plummeted by 5.30% on Tuesday, November 6th, as the company reported mixed financial results for the third quarter of 2024.</p>\n\n<p>The biopharmaceutical company reported a loss of $0.10 per share, slightly worse than analysts' expectations of a $0.09 loss. Revenue for the quarter came in at $1.34 million, missing the consensus estimate of $1.86 million by a significant margin.</p>\n\n<p>Despite the disappointing financial performance, Arbutus announced promising results from its Phase 2a clinical trials for imdusiran, a potential treatment for chronic hepatitis B virus (HBV) infection. 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