Arbutus Biopharma Corp Dossier
Qualitative Analysis
Business overview
Arbutus Biopharma Corp (NASDAQ: ABUS) is a clinical-stage biopharmaceutical company focused on developing a functional cure for chronic hepatitis B virus (cHBV). The company's pipeline is anchored by imdusiran (AB-729), a subcutaneously-delivered RNA interference (RNAi) therapeutic designed to suppress all HBV antigens, and AB-101, an oral PD-L1 inhibitor aimed at reawakening the patient's HBV-specific immune response. Additionally, Arbutus owns a valuable portfolio of lipid nanoparticle (LNP) delivery technology, which it licenses and monetizes through its associate Genevant Sciences (in which Arbutus holds an approximate 16% equity stake).
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Advancing imdusiran, a subcutaneously-delivered RNAi therapeutic designed to reduce all HBV viral proteins and antigens, into Phase 2b clinical trials. The program was granted FDA Fast Track designation in mid-April 2026.
Expected impact: Establishing imdusiran as a key component of a finite treatment regimen to achieve a functional cure for chronic HBV.
Developing AB-101, a proprietary oral PD-L1 checkpoint inhibitor designed to activate HBV-specific T-cell immune responses while minimizing systemic safety issues.
Expected impact: Providing an oral immunomodulatory candidate that can be combined with imdusiran and other agents to achieve functional cure rates.
Defending and leveraging the company's proprietary lipid nanoparticle (LNP) delivery technology through licensing and patent litigation, including ongoing actions against Pfizer/BioNTech.
Expected impact: Securing fair compensation, licensing royalties, or landmark settlements to fund internal pipeline development without diluting equity.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Arbutus co-owns Genevant Sciences (formed with Roivant Sciences) to develop and license its proprietary LNP delivery technology. This structure allows Arbutus to capture significant value from RNA-based delivery applications while focusing internally on HBV therapeutics.
Terms: Arbutus shares in the economics of Genevant's licensing agreements and patent settlements, including receiving an estimated $178.7 million from the $950 million upfront Moderna settlement in 2026.
Resolves all global patent infringement litigation and patent revocation proceedings regarding the unauthorized use of Arbutus's LNP technology in Moderna's COVID-19 vaccines (Spikevax) and RSV vaccines (mRESVIA).
Terms: Moderna will pay an upfront lump sum of $950 million in July 2026 (with Arbutus receiving approximately $178.7 million). An additional $1.3 billion payment is contingent upon a favorable appellate ruling regarding government-contractor immunity under 28 U.S.C. Section 1498.