Arbutus up after investor Whitefort urges co to stop share sales, find partner

Arbutus Biopharma

17/05/2024 15:43

** Shares of Arbutus Biopharma  ABUS.O  rise ~1% to $2.92
    ** Whitefort Capital Management is urging ABUS to stop
issuing shares and find a potential partner for its hepatitis B
virus treatment portfolio
    ** The investment firm criticized the company for using
share sales to fund its hepatitis research, according to a
letter seen by Reuters 
    ** The investment firm argues that continued share sales
would hurt Arbutus shareholders as they wait for the conclusion
of patent infringement claims against Moderna  MRNA.O  and
Pfizer  PFE.N  related to their COVID-19 vaccines
    ** Up to last close, stock up 15.6% YTD

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))