Arbutus Biopharma swings to $169.7M net income in Q1 2026

Arbutus Biopharma (NASDAQ:ABUS), a clinical-stage biopharmaceutical company focused on infectious diseases, reported its financial results for the first quarter ended March 31, 2026.

Total revenue reached $179.1 million in the quarter, compared with $1.8 million in the first quarter of 2025.

The substantial increase was driven by license revenue from Genevant related to the Company’s portion of the Noncontingent Settlement Payment.

Research and development expenses decreased to $4.1 million from $9 million in the prior-year period, reflecting cost savings from workforce reductions, the discontinuation of in-house scientific research, and lower clinical trial costs.

General and administrative expenses were $5.9 million, compared with $5.8 million a year earlier.

There were no restructuring costs in the current quarter, versus $12.4 million in Q1 2025.

As of March 31, 2026, Arbutus held $95.2 million in cash, cash equivalents and investments in marketable securities, up from $91.5 million at year-end 2025.

The company used $8.1 million in operating activities during the quarter, which included one-time payments related to restructuring, and received $11.5 million from the exercise of stock options.

For the quarter, Arbutus reported net income of $169.7 million, or $0.88 per basic and $0.87 per diluted common share, compared with a net loss of $24.5 million, or $0.13 per share, in the first quarter of 2025.