Company: ABUS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001447028-25-000126
Chunk: 40

Company: Arbutus Biopharma Corp
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 40
---
 obligated to reimburse OMERS if it fails to collect any such future royalties. If this royalty entitlement reverts to the Company, it has the potential to provide an active royalty stream or to be otherwise monetized again in full or in part. From the inception of the royalty sale through September 30, 2025, an aggregate of $26.3 million of royalties have been earned by OMERS. The Company also is receiving a second royalty interest of 0.75% to 1.125% on global net sales of ONPATTRO, with 0.75% applying to sales greater than $500 million, originating from a settlement agreement and subsequent license agreement with Acuitas.  This royalty entitlement from Acuitas has been retained by the Company and was not part of the royalty entitlement sale to OMERS. Revenues are summarized in the following table:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)(in thousands)Revenue from collaborations and licensesAcuitas Therapeutics, Inc.$280 $644 $1,375 $1,981 Qilu Pharmaceutical Co., Ltd.— 123 10,434 880 Non-cash royalty revenueAlnylam Pharmaceuticals, Inc.249 572 1,223 1,736 Total revenue$529 $1,339 $13,032 $4,597 

10.    Shareholders’ equity

Authorized share capitalThe Company’s authorized share capital consists of an unlimited number of common shares and preferred shares, without par value, and 1,164,000 Series A participating convertible preferred shares, without par value.Open Market Sale AgreementEffective March 26, 2025, the Company terminated its Open Market Sale Agreement with Jefferies LLC (Jefferies) dated December 20, 2018, as amended (the Sale Agreement), under which the Company could offer and sell common shares, from time to time. Prior to the termination of the Sale Agreement, the Company did not issue any common shares pursuant to the Sale Agreement during the nine months ended September 30, 2025. The Company did not issue any common shares pursuant to the Sale Agreement during the three months ended September 30, 2024. During the nine months ended September 30, 2024, the Company issued 16,499,999 common shares pursuant to the Sale Agreement, resulting in net proceeds of $44.1 million. 

 15