Arbutus Biopharma (NASDAQ: ABUS) announced its financial results for the fourth quarter of 2023 on February 29, 2024. The company reported a quarterly loss of $(0.12) per share, in line with analyst expectations. This represents a 14.29% increase in losses compared to the same period last year.
In terms of sales, Arbutus Biopharma reported quarterly sales of $2.15 million, falling short of the analyst consensus estimate by 55.22%. This marks a 65.65% decrease from sales in the same period the previous year, which were $6.25 million.
Looking ahead to 2024, Arbutus Biopharma is set to release key clinical data from two ongoing Phase 2a clinical trials with imdusiran. The company also plans to initiate a third Phase 2a clinical trial with imdusiran in the first half of the year. Arbutus Biopharma stated that it has cash and investments totaling $132 million, providing financial stability until the first quarter of 2026.
Additionally, the company released its full-year financial results for 2023, reporting a GAAP EPS of -$0.44, slightly better than expected. Arbutus Biopharma’s revenue for the fiscal year was $18.1 million, missing estimates by $3.04 million.
https://beststocks.com/arbutus-biopharma-reports-fourth-quarter-2023/
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