Company: ABUS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001447028-25-000099
Chunk: 31

Company: Arbutus Biopharma Corp
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 the Sale Agreement during the three months ended March 31, 2025.  During the three months ended March 31, 2024, the Company issued 8,666,077 common shares pursuant to the Sale Agreement, resulting in net proceeds of $21.8 million. Stock-based compensationThe table below summarizes information about the Company’s stock-based compensation for the three months ended March 31, 2025 and 2024 and the expense recognized in the condensed consolidated statements of operations: 

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Three Months Ended March 31,20252024(in thousands, except share and per share data)Stock optionsOptions granted during period3,943,722 3,738,800 Weighted average exercise price$3.31 $2.40 Restricted stock units (RSUs)Restricted stock units granted during period901,900 1,316,200 Grant date fair value$3.29 $2.40 Stock compensation expenseResearch and development$555 $1,041 General and administrative738 973 Total stock compensation expense$1,293 $2,014 

11.    Segment Reporting

The Company has one reportable segment. The Company’s chief operating decision maker is the Chief Executive Officer and President. The accounting policies of the single segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the condensed and consolidated statements of operations and comprehensive loss as consolidated net loss. The chief operating decision maker uses net loss to monitor budget versus actual results and to evaluate the overall cash burn of the business. Three months ended March 31,20252024Revenue$1,764 $1,532 Less:Research and development employee expense, lab supplies and overhead4,436 7,100 Imdusiran IM-PROVE I, II & III clinical trials expense2,384 5,389 AB-101-001 Phase 1a/1b clinical trial expense1,899 2,810 Other early research and development programs expense240 104 General and administrative expense5,832 5,312 Restructuring expense12,373 — Other segment expense (1)323 237 Add:Interest income1,197 1,545 Segment net loss$(24,526)$(17,875)Adjustments and reconciling items