Company: ABUS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001447028-25-000099
Chunk: 55

Company: Arbutus Biopharma Corp
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
 and accrued liabilities. 

Other income (loss)

The components of our other income (loss) are summarized in the following table:

 Three Months Ended March 31, 20252024(in thousands)Interest income$1,197 $1,545 Interest expense(28)(44)Foreign exchange gain/(loss)4 (13)Total other income$1,173 $1,488 

Interest income

The decrease in interest income for the three months ended March 31, 2025 compared to the same period in 2024 was due primarily to less interest earned on our cash and investment balances due to a lower average balance and a general decrease in market interest rates. 

Interest expense

Interest expense for the three months ended March 31, 2025 and 2024 consisted primarily of non-cash amortization of discount and issuance costs related to the sale of a portion of our ONPATTRO royalty interest to OMERS in July 2019. The decrease is related to the declining balance of the unamortized discount and issuance costs. 

31

LIQUIDITY AND CAPITAL RESOURCES

The following table summarizes our cash flow activities for the periods indicated:

 Three Months Ended March 31, 20252024(in thousands)Net loss$(24,526)$(17,875)Non-cash items5,866 1,439 Change in deferred license revenue(812)(244)Net change in operating items6,081 (2,615)Net cash used in operating activities(13,391)(19,295)Net cash provided by investing activities11,349 11,694 Issuance of common shares pursuant to the Open Market Sale Agreement— 21,765 Cash provided by other financing activities2,784 2,665 Net cash provided by financing activities2,784 24,430 Effect of foreign exchange rate changes on cash and cash equivalents4 (13)Increase in cash and cash equivalents746 16,816 Cash and cash equivalents, beginning of period36,330 26,285 Cash and cash equivalents, end of period$37,076 $43,101 

Since our incorporation, we have financed our operations through sales of equity, debt, revenues from research and development collaborations and licenses with corporate partners, royalty monetization, interest income on funds available for investment, and government contracts, grants and tax credits.

For the three months ended March 31, 2025, $13.