Arbutus Biopharma (NASDAQ: ABUS) reported Q1 EPS of ($0.25), $0.14 better than the analyst estimate of ($0.39).

William Collier, President and Chief Executive Officer of Arbutus, stated, “As we announced in March, preliminary results from an ongoing Phase 1a/1b clinical trial for our lead compound, AB-729, demonstrate that it is a potent RNAi agent capable of reducing HBsAg plasma levels. We are on track to have additional results from the week 12 portion of the 60 mg single-dose cohort in the second quarter of 2020.”

Mr. Collier added, “Despite the challenges of COVID-19, we have not had to alter our objectives for 2020. However, future disruptions related to the COVID-19 pandemic could negatively impact our plans and timelines, including enrolling and monitoring subjects in the trial. We remain focused on developing a portfolio of products, with different mechanisms of action, that when used in combination could result in a functional cure for HBV.”

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