As of Tuesday’s check, Arbutus Biopharma’s stock was trading at $2.9200. ABUS stock achieved a high of $2.9300 during the trading session and a low of $2.7600. Today, in the pre-market trading sessions, it is steadily rising to around $3.2300, representing a 10% profit. Why is the stock market of the company surging today? However, there were no official announcements from the company. Let’s take a look at Arbutus’ updated financial statements and its corporate goals for 2022, which were published last week on January 24.
As mentioned in the report, during this year, the clinical trials of AB-729 and AB-836 are expected to be ready for several key data findings and which will support the clinical development of Phase 2b. In 2022, the company plans to complete research promoting IND for the AB-161 RNA destabilizer. At this point, as of December 31, 2021, cash, cash equivalents, and investments in marketable securities were $191 million. Not including a $40 million down payment. Investors are looking forward to this quarter’s findings, which are planned for March 02, 2022 – March 07, 2022, with a market capitalization of $426 million.