Brief: Arbutus Reports Third Quarter 2023 Financial Results And Provides Corporate Update

Arbutus Biopharma

07/11/2023 12:37

Nov 7 (Reuters) - Arbutus Biopharma Corp  ABUS.O :
    * ARBUTUS REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS AND
PROVIDES CORPORATE UPDATE
    * ARBUTUS BIOPHARMA CORP - CASH RUNWAY EXTENDED INTO Q1 2026
    * ARBUTUS BIOPHARMA CORP - REDUCING WORKFORCE BY 24% AS A
RESULT
OF RECENT PIPELINE OPTIMIZATION
    * ARBUTUS BIOPHARMA CORP - REDUCED ITS WORKFORCE BY 24%,
EFFECTIVE
NOVEMBER 6, 2023, PRIMARILY AFFECTING ITS RESEARCH FUNCTION
    * ARBUTUS BIOPHARMA CORP - WILL INCUR A ONE-TIME
RESTRUCTURING
CHARGE OF APPROXIMATELY $1.1 MILLION THAT WILL BE RECORDED IN Q4
OF 2023
    * ARBUTUS BIOPHARMA CORP - WILLIAM COLLIER WILL BE RETIRING
AS
PRESIDENT AND CEO
    * ARBUTUS BIOPHARMA CORP - MICHAEL J. MCELHAUGH, ARBUTUS
CO-FOUNDER AND COO, WILL SERVE AS INTERIM CEO AND WILL JOIN
COMPANY'S BOARD OF DIRECTORS

Source text for Eikon:  ID:nGNX5C3BH 
Further company coverage:  ABUS.O 

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