Company: ABUS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001447028-25-000115
Chunk: 90

Company: Arbutus Biopharma Corp
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 90
---
(in thousands, except percentages)Revenue from collaborations and licensesRoyalties from sales of ONPATTRO$591 6 %$642 37 %Qilu Pharmaceutical Co., Ltd.9,622 90 %513 30 %Non-cash royalty revenueRoyalties from sales of ONPATTRO526 5 %571 33 %Total revenue$10,739 100 %$1,726 100 %

Six Months Ended June 30,2025% of Total2024% of Total(in thousands, except percentages)Revenue from collaborations and licensesRoyalties from sales of ONPATTRO$1,095 9 %$1,337 41 %Qilu Pharmaceutical Co., Ltd.10,434 83 %757 23 %Non-cash royalty revenueRoyalties from sales of ONPATTRO974 8 %1,164 36 %Total revenue$12,503 100 %$3,258 100 %

Total revenue increased $9.0 million and $9.2 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, due primarily to recognizing all $9.6 million of previously deferred revenue upon the conclusion of our strategic partnership with Qilu in June 2025, partially offset by a decrease in license royalty revenue from Alnylam and Acuitas due to lower sales of ONPATTRO in the 2025 periods compared to the 2024 periods. 

30

Operating expenses 

Operating expenses are summarized in the following tables:

Three Months Ended June 30,2025% of Total2024% of Total(in thousands, except percentages)Research and development$5,498 59 %$15,551 67 %General and administrative3,328 36 %7,547 32 %Change in fair value of contingent consideration260 3 %211 1 %Restructuring costs165 2 %— — %Total operating expenses$9,251 100 %$23,309 100 %

Six Months Ended June 30,2025% of Total2024% of Total(in thousands, except percentages)Research and development$14,457 39 %$30,954 70 %General and administrative9,160 25 %12,859 29 %Change in fair value of contingent