Arbutus Biopharma (ABUS -15.8%) slumps in early trade on average volume. Yesterday after the close it reported Q2 results. Highlights:
Revenue: $1.2M (+20%).
Clinical trial evaluating all-oral combo of AB-506 and AB-452 (and an approved nucleoside analogue) expected to launch by year-end 2019 (may be the reason for the selling).
Genevant, a new company jointly owned by Arbutus and Roivant Sciences, inked a strategic partnership deal with BioNTech AG aimed at developing five mRNA products for rare diseases. Co-development expenses and co-commercialization costs and profits will be equally shared. BioNTech also secured exclusive licenses to Genevant’s proprietary delivery technology for five oncology targets under which Genevant will be eligible for commercial milestone payments.
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