Arbutus climbs after unveiling buyback from Moderna settlement proceeds

Arbutus Biopharma

21/08/2026 13:13

** Shares of drug developer Arbutus Biopharma ABUS.O rise 11.2% to $5.31 premarket
** Co says it plans to buy back up to $230 million worth of its shares through a modified Dutch auction
** The money for this stock buyback comes from a recent patent lawsuit settlement with Moderna MRNA.O over lipid nanoparticle technology
** The company expects to pay between $5.00 and $5.75 per share, with the purchase process starting around Aug 24 and expiring around Sept 29, subject to regulatory approvals
** The stock closed at $4.77 on Thursday, implying a premium of roughly 5% to 21%
** Arbutus is also continuing to pursue similar patent lawsuits against Pfizer PFE.N and BioNTech 22UAy.DE 
** At Thursday's close, the $230 mln buyback represented about 24% of Arbutus' market value of roughly $943.73 mln, as per LSEG data
** As of last close, stock down 0.8% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))