Arbutus Biopharma reported a net loss of $19.7 million for the third quarter of 2024. This financial result was announced on November 6, 2024, as part of the company's quarterly earnings update.
The company had previously implemented a 40% workforce reduction in the third quarter of 2024. This strategic streamlining resulted in a one-time restructuring charge of $3.7 million during the quarter.
The workforce reduction was part of a broader effort to focus on advancing the clinical development of imdusiran and AB-101, which included ceasing all discovery efforts and discontinuing the IM-PROVE III clinical trial.
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