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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Arbutus Biopharma Corporation | NASDAQ:ABUS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.81 | 2.60 | 2.96 | 0 | 10:05:59 |
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Subject Matter
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Status
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Expiration
Date*
|
LNP Compositions and Methods of Use (siRNA)
|
U.S. Pat. No. 7,982,027; applications pending in other jurisdictions
|
2024
|
LNP Compositions (interferingRNA)
|
U.S. Pat. No. 7,799,565; patents issued in other jurisdictions
|
2025
|
LNP Compositions (Nucleic Acid)
|
U.S. Pat. Nos. 8,058,069; 8,492,359 and 8,822,668; applications pending in other jurisdictions
|
2029
|
LNP Compositions and Methods of Use (PLK-1)
|
U.S. Pat. No.8,283,333; applications pending in other jurisdictions
|
2030
|
LNP Compositions (Nucleic Acid)
|
U.S. Pat. No. 9,006,417
|
2031
|
LNP
Manufacturing Process
|
U.S. Pat. Nos. 7,901,708 and 8,329,070; European Pat. Nos. 1519714 and 2338478; application pending in the U.S.
|
2023
|
LNP
Manufacturing Process
|
U.S. Pat. No. 9,005,654; application pending in Europe
|
2026
|
Lipid Compositions
|
U.S. Pat. No. 7,745,651; European Pat. No. 1781593; application pending in the U.S.
|
2025
|
Lipid Compositions
|
U.S. Pat. Nos. 7,803,397 and 8,936,942; European Pat. No. 1664316
|
2024
|
Modified siRNA Compositions
|
U.S. Pat. Nos. 8,101,741, 8,188,263 and 9,074,208; applications pending in other jurisdictions
|
2026
|
Modified siRNA Compositions
|
U.S. Pat. No. 7,915,399
|
2027
|
siRNA and LNP Compositions (Ebola Virus)
|
U.S. Pat. No. 7,838,658
|
2026
|
siRNA and LNP Compositions and Methods of Treatment (Ebola Virus)
|
U.S. Pat. No. 8,716,464
|
2030
|
siRNA and LNP Compositions (PLK1)
|
U.S. Pat. No. 9,006,191; European Pat. No. 2238251
|
2028
|
Immunostimulatory Compositions, Methods of Use and Production
|
U.S. Pat. No. 8,691,209; European Pat. No. 1450856
|
2022
|
siRNA and LNP Compositions (HBV)
|
Patent applications pending in U.S. and other jurisdictions
|
2035
|
HBV Capsid Assembly Inhibitor Compositions and Methods of Treatment
|
Patent applications pending in U.S. and other jurisdictions
|
2032
|
Non-Liposomal Systems For Nucleic Acid Delivery
|
U.S. Pat. No. 9,518,272
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2031
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Lipid Compositions For Nucleic Acid Delivery
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U.S. Pat. No. 9,504,651
|
2023
|
(1)
|
Patent information current as of February 7, 2017.
|
Name
|
|
Position(s)/Institutional Affiliation(S)
|
Adrian Di Bisceglie, MD
|
|
Professor of Internal Medicine and Chairman of the Department of Medicine at St Louis University , St Louis University School of Medicine, Chief of Hepatology
|
Charlie Rice, Ph.D.
|
|
Maurice and Corinne Greenberg Professor in Virology, Rockefeller University
|
Scott Biller, Ph.D.
|
|
Chief Scientific Officer at Agios Pharmaceuticals
|
Ulrike Protzer, Ph.D.
|
|
Director, Institute of Virology, Technische Universität München / Helmholtz Zentrum München - German Center for Environmental Health
|
Fabien Zoulim, MD, Ph.D.
|
|
Professor of Medicine, Lyon University, Head of Hepatology Department, Hospices Civils de Lyon
|
Kyong-Mi Chang
|
|
Associate Professor of Medicine, Division of Gastroenterology, University of Pennsylvania Perelman School of Medicine
|
Name
|
|
Age
|
|
Position(s)
|
Mark Murray
|
|
68
|
|
President and Chief Executive Officer, and Director
|
Bruce Cousins
|
|
56
|
|
Executive Vice President and Chief Financial Officer
|
Michael Sofia
|
|
59
|
|
Chief Scientific Officer
|
William Symonds
|
|
49
|
|
Chief Development Officer and Director
|
Peter Lutwyche
|
|
51
|
|
Chief Technology Officer
|
Elizabeth Howard
|
|
63
|
|
Executive Vice President and General Counsel
|
•
|
execute research and development activities using RNAi technology; and technologies involved in the development of HBV therapeutics;
|
•
|
build, maintain and protect a strong intellectual property portfolio;
|
•
|
gain acceptance for the development and commercialization of any product we develop;
|
•
|
develop and maintain successful strategic relationships; and
|
•
|
manage our spending and cash requirements as our expenses are expected to increase due to research and preclinical work, clinical trials, regulatory approvals, and commercialization and maintaining our intellectual property portfolio
|
•
|
we may not be able to attract and build a significant marketing or sales force;
|
•
|
the cost of establishing a marketing or sales force may not be justifiable in light of the revenues generated by any particular product; and
|
•
|
our direct sales and marketing efforts may not be successful.
|
•
|
revenues earned from our partners, including Alnylam and Spectrum;
|
•
|
the extent to which we continue the development of our product candidates or form collaborative relationships to advance our products;
|
•
|
our decisions to in-license or acquire additional products or technology for development,
|
•
|
our ability to attract and retain corporate partners, and their effectiveness in carrying out the development and ultimate commercialization of our product candidates;
|
•
|
whether batches of drugs that we manufacture fail to meet specifications resulting in delays and investigational and remanufacturing costs;
|
•
|
the decisions, and the timing of decisions, made by health regulatory agencies regarding our technology and products;
|
•
|
competing technological and market developments; and
|
•
|
prosecuting and enforcing our patent claims and other intellectual property rights.
|
•
|
controlled research and human clinical testing;
|
•
|
establishment of the safety and efficacy of the product for each use sought;
|
•
|
government review and approval of a submission containing manufacturing, pre-clinical and clinical data;
|
•
|
adherence to Good Manufacturing Practice Regulations during production and storage; and
|
•
|
control of marketing activities, including advertising and labeling
|
•
|
decreased demand for our product candidates;
|
•
|
impairment of our business reputation;
|
•
|
withdrawal of clinical trial participants;
|
•
|
costs of related litigation;
|
•
|
substantial monetary awards to patients or other claimants;
|
•
|
loss of revenues; and
|
•
|
inability to commercialize our product candidates.
|
•
|
some or all patent applications may not result in the issuance of a patent;
|
•
|
patents issued may not provide the holder with any competitive advantages;
|
•
|
patents could be challenged by third parties;
|
•
|
the patents of others, including Alnylam, could impede our ability to do business;
|
•
|
competitors may find ways to design around our patents; and
|
•
|
competitors could independently develop products which duplicate our products.
|
•
|
much greater financial, technical and human resources than we have at every stage of the discovery, development, manufacture and commercialization process;
|
•
|
more extensive experience in pre-clinical testing, conducting clinical trials, obtaining regulatory approvals, and in manufacturing, marketing and selling pharmaceutical products;
|
•
|
product candidates that are based on previously tested or accepted technologies;
|
•
|
products that have been approved or are in late stages of development; and
|
•
|
collaborative arrangements in our target markets with leading companies and research institutions.
|
•
|
safety and effectiveness of our products
|
•
|
ease with which our products can be administered and the extent to which patients and physicians accept new routes of administration;
|
•
|
timing and scope of regulatory approvals for these products;
|
•
|
availability and cost of manufacturing, marketing and sales capabilities;
|
•
|
price;
|
•
|
reimbursement coverage; and
|
•
|
patent position.
|
•
|
discover, develop and commercialize drugs that are superior to other products in the market;
|
•
|
demonstrate through our clinical trials that our drug candidates are differentiated from existing and future therapies;
|
•
|
attract qualified scientific, product development and commercial personnel;
|
•
|
obtain patent or other proprietary protection for our drugs and technologies;
|
•
|
obtain required regulatory approvals;
|
•
|
successfully collaborate with pharmaceutical companies in the discovery, development and commercialization of new drugs; and
|
•
|
negotiate competitive pricing and reimbursement with third party payors.
|
•
|
general economic and political conditions in Canada, the United States and globally;
|
•
|
governmental regulation of the health care and pharmaceutical industries;
|
•
|
failure to achieve desired drug discovery outcomes by us or our collaborators;
|
•
|
failure to obtain industry partner and other third party consents and approvals, when required;
|
•
|
stock market volatility and market valuations;
|
•
|
competition for, among other things, capital, drug targets and skilled personnel;
|
•
|
the need to obtain required approvals from regulatory authorities;
|
•
|
revenue and operating results failing to meet expectations in any particular period;
|
•
|
investor perception of the health care and pharmaceutical industries;
|
•
|
limited trading volume of our Common Shares;
|
•
|
announcements relating to our business or the businesses of our competitors; and
|
•
|
our ability or inability to raise additional funds.
|
|
NASDAQ
High
(US$)
|
|
NASDAQ
Low
(US$)
|
|
TSX
High
(C$)
|
|
TSX
Low
(C$)
|
||||||||
Year Ended:
|
|
|
|
|
|
|
|
||||||||
December 31, 2016
|
$
|
5.48
|
|
|
$
|
2.35
|
|
|
N/A
|
|
|
N/A
|
|
||
December 31, 2015
(1)
|
$
|
26.73
|
|
|
$
|
4.25
|
|
|
$
|
33.76
|
|
|
$
|
17.05
|
|
Quarter Ended:
|
|
|
|
|
|
|
|
||||||||
December 31, 2016
|
$
|
3.56
|
|
|
$
|
2.35
|
|
|
N/A
|
|
|
N/A
|
|
||
September 30, 2016
|
$
|
4.49
|
|
|
$
|
3.36
|
|
|
N/A
|
|
|
N/A
|
|
||
June 30, 2016
|
$
|
5.48
|
|
|
$
|
3.09
|
|
|
N/A
|
|
|
N/A
|
|
||
March 31, 2016
|
$
|
4.71
|
|
|
$
|
2.72
|
|
|
N/A
|
|
|
N/A
|
|
||
December 31, 2015
|
$
|
6.74
|
|
|
$
|
4.25
|
|
|
N/A
|
|
|
N/A
|
|
||
September 30, 2015
|
$
|
12.46
|
|
|
$
|
5.75
|
|
|
N/A
|
|
|
N/A
|
|
||
June 30, 2015
|
$
|
19.61
|
|
|
$
|
11.50
|
|
|
N/A
|
|
|
N/A
|
|
||
March 31, 2015
(1)
|
$
|
26.73
|
|
|
$
|
14.50
|
|
|
$
|
33.76
|
|
|
$
|
17.05
|
|
Month Ended:
|
|
|
|
|
|
|
|
||||||||
February 28, 2017
|
$
|
2.85
|
|
|
$
|
2.45
|
|
|
N/A
|
|
|
N/A
|
|
||
January 31, 2017
|
$
|
3.01
|
|
|
$
|
2.35
|
|
|
N/A
|
|
|
N/A
|
|
(1)
|
Our common shares were voluntarily delisted from the Toronto Stock Exchange (TSX) as of the close of business on Tuesday, March 3, 2015. High and low trading prices shown in the table are for the period January 1, 2015 to March 2, 2015.
|
Location
|
Number of Shares
|
|
Percentage of
Total Shares
|
|
Number of Registered
Shareholders of
Record
|
|||
Canada
|
16,358,047
|
|
|
29.7
|
%
|
|
86
|
|
United States
|
22,650,936
|
|
|
41.2
|
%
|
|
21
|
|
Other
|
16,014,224
|
|
|
29.1
|
%
|
|
4
|
|
Total
|
55,023,207
|
|
|
100
|
%
|
|
111
|
|
|
Q4
2016 |
|
Q3
2016 |
|
Q2
2016 |
|
Q1
2016 |
|
Q4
2015 |
|
Q3
2015 |
|
Q2
2015 |
|
Q1
2015 |
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collaborations and contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DoD
|
$—
|
|
$—
|
|
$—
|
|
$—
|
|
$(0.1)
|
|
$2.0
|
|
$1.9
|
|
$3.0
|
Monsanto
|
—
|
|
—
|
|
—
|
|
—
|
|
3.9
|
|
0.3
|
|
0.3
|
|
0.2
|
Dicerna
|
—
|
|
0.1
|
|
—
|
|
0.1
|
|
0.7
|
|
0.7
|
|
0.2
|
|
0.2
|
|
—
|
|
0.1
|
|
—
|
|
0.1
|
|
4.5
|
|
3.0
|
|
2.4
|
|
3.4
|
Monsanto licensing fees and milestone payments
|
—
|
|
—
|
|
—
|
|
—
|
|
7.9
|
|
0.7
|
|
0.8
|
|
0.8
|
Dicerna licensing fee
|
—
|
|
0.6
|
|
0.2
|
|
0.2
|
|
0.3
|
|
0.3
|
|
0.3
|
|
0.3
|
Other milestone and royalty payments
|
(0.2)
|
|
—
|
|
0.1
|
|
0.3
|
|
0.1
|
|
0.1
|
|
0.1
|
|
0.1
|
Total revenue
|
(0.2)
|
|
0.7
|
|
0.3
|
|
0.6
|
|
12.7
|
|
4.1
|
|
3.6
|
|
4.6
|
Expenses
|
(257.2)
|
|
(19.7)
|
|
(195.6)
|
|
(20.6)
|
|
(24.4)
|
|
(62.2)
|
|
(17.9)
|
|
(22.7)
|
Other income (losses)
|
(1.4)
|
|
(0.6)
|
|
0.4
|
|
4.1
|
|
5.5
|
|
14.0
|
|
(0.5)
|
|
6.0
|
Loss before income taxes
|
(258.8)
|
|
(19.6)
|
|
(194.9)
|
|
(15.9)
|
|
(6.2)
|
|
(44.2)
|
|
(14.8)
|
|
(12.1)
|
Income tax benefit
|
40.1
|
|
—
|
|
64.9
|
|
—
|
|
1.0
|
|
15.2
|
|
—
|
|
—
|
Net loss
|
$(218.7)
|
|
$(19.6)
|
|
$(130.0)
|
|
$(15.9)
|
|
$(5.2)
|
|
$(29.0)
|
|
$(14.8)
|
|
$(12.1)
|
Basic and diluted net loss per share
|
$(4.05)
|
|
$(0.37)
|
|
$(2.47)
|
|
$(0.31)
|
|
$(0.10)
|
|
$(0.57)
|
|
$(0.27)
|
|
$(0.40)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
Total revenue
|
$
|
1.5
|
|
|
$
|
24.9
|
|
|
$
|
15.0
|
|
Operating expenses
|
493.1
|
|
|
127.2
|
|
|
48.4
|
|
|||
Loss from operations
|
(491.6
|
)
|
|
(102.3
|
)
|
|
(33.4
|
)
|
|||
Net loss
|
(384.2
|
)
|
|
(61.1
|
)
|
|
(38.8
|
)
|
|||
Basic loss per share
|
(7.24
|
)
|
|
(1.34
|
)
|
|
(1.80
|
)
|
|||
Diluted loss per share
|
(7.24
|
)
|
|
(1.34
|
)
|
|
(1.80
|
)
|
|||
Total assets
|
275.9
|
|
|
712.3
|
|
|
118.2
|
|
|||
Total liabilities
|
72.9
|
|
|
164.6
|
|
|
30.1
|
|
|||
Total non-current liabilities
|
62.3
|
|
|
154.0
|
|
|
9.9
|
|
|||
Deficit
|
(651.1
|
)
|
|
(267.0
|
)
|
|
(205.9
|
)
|
|||
Accumulated other comprehensive loss
|
(49.8
|
)
|
|
(49.8
|
)
|
|
(22.3
|
)
|
|||
Total stockholders’ equity
|
$
|
203.0
|
|
|
$
|
547.7
|
|
|
$
|
88.0
|
|
|
2016
|
|
|
% of Total
|
|
|
2015
|
|
|
% of Total
|
|
||
Collaborations and contracts
|
|
|
|
|
|
|
|
||||||
DoD
|
$
|
—
|
|
|
—
|
%
|
|
$
|
6.8
|
|
|
27
|
%
|
Monsanto
|
—
|
|
|
—
|
%
|
|
4.7
|
|
|
19
|
%
|
||
Dicerna
|
0.2
|
|
|
13
|
%
|
|
1.8
|
|
|
7
|
%
|
||
Total collaborations and contracts
|
0.2
|
|
|
13
|
%
|
|
13.3
|
|
|
53
|
%
|
||
Monsanto licensing fees and milestone payments
|
—
|
|
|
—
|
%
|
|
10.3
|
|
|
42
|
%
|
||
Dicerna licensing fee
|
1.1
|
|
|
73
|
%
|
|
1.1
|
|
|
4
|
%
|
||
Other milestone and royalty payments
|
0.2
|
|
|
14
|
%
|
|
0.2
|
|
|
1
|
%
|
||
Total revenue
|
$
|
1.5
|
|
|
|
|
|
$
|
24.9
|
|
|
|
|
|
2016
|
|
|
% of Total
|
|
|
2015
|
|
|
% of Total
|
|
||
Research, development, collaborations and contracts
|
$
|
61.3
|
|
|
12
|
%
|
|
$
|
51.5
|
|
|
40
|
%
|
General and administrative
|
39.4
|
|
|
8
|
%
|
|
26.4
|
|
|
21
|
%
|
||
Depreciation
|
1.1
|
|
|
—
|
%
|
|
0.6
|
|
|
—
|
%
|
||
Acquisition costs
|
—
|
|
|
—
|
%
|
|
9.7
|
|
|
8
|
%
|
||
Impairment of intangible assets
|
253.2
|
|
|
51
|
%
|
|
$
|
39.0
|
|
|
31
|
%
|
|
Impairment of goodwill
|
138.1
|
|
|
28
|
%
|
|
$
|
—
|
|
|
—
|
%
|
|
Total operating expenses
|
$
|
493.1
|
|
|
|
|
|
$
|
127.2
|
|
|
|
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
Q1
|
||||||||||||||||
|
2016
|
|
2016
|
|
2016
|
|
2016
|
|
2015
|
|
2015
|
|
2015
|
2015
|
||||||||||||||||
Research and development
|
$
|
1.5
|
|
|
$
|
1.5
|
|
|
$
|
1.5
|
|
|
$
|
1.5
|
|
|
$
|
1.5
|
|
|
$
|
1.4
|
|
|
$
|
1.0
|
|
$
|
0.3
|
|
General and administrative
|
1.5
|
|
|
1.5
|
|
|
18.5
|
|
|
4.5
|
|
|
4.5
|
|
|
4.3
|
|
|
3.1
|
|
0.9
|
|
||||||||
Total non-cash compensation for repurchase rights expiration
|
$
|
3.0
|
|
|
$
|
3.0
|
|
|
$
|
20.0
|
|
|
$
|
6.0
|
|
|
$
|
6.0
|
|
|
$
|
5.7
|
|
|
$
|
4.1
|
|
$
|
1.2
|
|
|
2016
|
|
|
2015
|
|
||
Interest income
|
$
|
1.4
|
|
|
$
|
0.7
|
|
Foreign exchange gains
|
1.1
|
|
|
21.8
|
|
||
Gain on disposition of financial instrument
|
1.0
|
|
|
—
|
|
||
Decrease in fair value of warrant liability
|
0.5
|
|
|
3.3
|
|
||
Increase in fair value of contingent consideration
|
(1.6
|
)
|
|
(0.8
|
)
|
||
Total other income (losses)
|
$
|
2.4
|
|
|
$
|
25.0
|
|
|
2015
|
|
|
% of Total
|
|
|
2014
|
|
|
% of Total
|
|
||
Collaborations and contracts
|
|
|
|
|
|
|
|
||||||
DoD
|
$
|
6.8
|
|
|
27
|
%
|
|
$
|
8.4
|
|
|
56
|
%
|
Monsanto
|
4.7
|
|
|
19
|
%
|
|
1.1
|
|
|
7
|
%
|
||
BMS
|
—
|
|
|
—
|
%
|
|
1.7
|
|
|
12
|
%
|
||
Dicerna
|
1.8
|
|
|
7
|
%
|
|
0.5
|
|
|
3
|
%
|
||
Other RNAi collaborators
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
||
Total collaborations and contracts
|
13.3
|
|
|
53
|
%
|
|
11.7
|
|
|
78
|
%
|
||
Monsanto licensing fee
|
10.3
|
|
|
41
|
%
|
|
2.7
|
|
|
18
|
%
|
||
Dicerna licensing fee
|
1.1
|
|
|
4
|
%
|
|
0.1
|
|
|
1
|
%
|
||
Other milestone and royalty payments
|
0.3
|
|
|
1
|
%
|
|
0.4
|
|
|
3
|
%
|
||
Total revenue
|
$
|
24.9
|
|
|
|
|
|
$
|
15.0
|
|
|
|
|
|
2015
|
|
|
% of Total
|
|
|
2014
|
|
|
% of Total
|
|
||
Research, development, collaborations and contracts
|
$
|
51.5
|
|
|
40
|
%
|
|
$
|
38.7
|
|
|
80
|
%
|
General and administrative
|
26.4
|
|
|
21
|
%
|
|
8.7
|
|
|
18
|
%
|
||
Depreciation
|
0.6
|
|
|
—
|
%
|
|
0.5
|
|
|
1
|
%
|
||
Acquisition costs
|
9.7
|
|
|
8
|
%
|
|
0.5
|
|
|
1
|
%
|
||
Impairment of intangible assets
|
$
|
39.0
|
|
|
31
|
%
|
|
$
|
—
|
|
|
—
|
%
|
Total operating expenses
|
$
|
127.2
|
|
|
|
|
|
$
|
48.4
|
|
|
|
|
|
2015
|
|
|
2014
|
|
||
Interest income
|
$
|
0.7
|
|
|
$
|
0.9
|
|
Foreign exchange gains
|
21.8
|
|
|
4.1
|
|
||
Increase in fair value of warrant liability
|
3.3
|
|
|
(10.4
|
)
|
||
Increase in fair value of contingent consideration
|
$
|
(0.8
|
)
|
|
$
|
—
|
|
Total other losses
|
$
|
25.0
|
|
|
$
|
(5.4
|
)
|
|
Year ended December 31
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Net loss for the year
|
$
|
(384.2
|
)
|
|
$
|
(61.1
|
)
|
|
$
|
(38.8
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities
|
326.7
|
|
|
21.0
|
|
|
9.9
|
|
|||
Changes in operating assets and liabilities
|
(0.5
|
)
|
|
(14.6
|
)
|
|
16.5
|
|
|||
Net cash used in operating activities
|
(57.9
|
)
|
|
(54.8
|
)
|
|
(12.4
|
)
|
|||
Net cash provided by (used in) investing activities
|
(99.1
|
)
|
|
7.7
|
|
|
(43.0
|
)
|
|||
Net cash provided by financing activities
|
12.6
|
|
|
143.9
|
|
|
60.7
|
|
|||
Effect of foreign exchange rate changes on cash & cash equivalents
|
1.0
|
|
|
(2.2
|
)
|
|
(1.8
|
)
|
|||
Net increase in cash and cash equivalents
|
(143.4
|
)
|
|
94.6
|
|
|
3.5
|
|
|||
Cash and cash equivalents, beginning of year
|
166.8
|
|
|
72.2
|
|
|
68.7
|
|
|||
Cash and cash equivalents, end of year
|
$
|
23.4
|
|
|
$
|
166.8
|
|
|
$
|
72.2
|
|
•
|
the need for additional capital to fund future business development programs;
|
•
|
revenues earned from our legacy licensing agreements, including milestone and royalty payments from Alnylam, Alexion and Spectrum;
|
•
|
the extent to which we continue the development of our product candidates, add new product candidates to our pipeline, or form collaborative relationships to advance our products;
|
•
|
our decisions to in-license or acquire additional products or technology for development, in particular for our HBV programs;
|
•
|
our ability to attract and retain corporate partners, and their effectiveness in carrying out the development and ultimate commercialization of our product candidates;
|
•
|
extent of cash inflow from licensing our LNP technology and royalty entitlements;
|
•
|
whether batches of drugs that we manufacture fail to meet specifications resulting in delays and investigational and remanufacturing costs;
|
•
|
the decisions, and the timing of decisions, made by health regulatory agencies regarding our technology and products;
|
•
|
competing technological and market developments; and
|
•
|
costs associated with prosecuting and enforcing our patent claims and other intellectual property rights, including litigation and arbitration arising in the course of our business activities.
|
(in millions)
|
Payments Due by Period
|
||||||||||||||||||
|
Total
|
|
Less
than 1 year
|
|
1 – 3
years
|
|
3 – 5
years
|
|
More than
5 years
|
||||||||||
Contractual Obligations
|
|
|
|
|
|
|
|
|
|
||||||||||
Facility lease
|
$
|
9.4
|
|
|
$
|
1.5
|
|
|
$
|
2.7
|
|
|
$
|
1.4
|
|
|
$
|
3.8
|
|
|
Page
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
23,413
|
|
|
$
|
166,779
|
|
Short-term investments (note 2)
|
107,146
|
|
|
14,525
|
|
||
Accounts receivable
|
273
|
|
|
1,008
|
|
||
Accrued revenue
|
128
|
|
|
128
|
|
||
Investment tax credits receivable
|
293
|
|
|
246
|
|
||
Prepaid expenses and other assets
|
1,311
|
|
|
1,196
|
|
||
Total current assets
|
132,564
|
|
|
183,882
|
|
||
Restricted investment (note 2)
|
12,601
|
|
|
—
|
|
||
Long-term investments
|
—
|
|
|
10,070
|
|
||
Property and equipment (note 5)
|
17,683
|
|
|
12,912
|
|
||
Less accumulated depreciation (note 5)
|
(10,738
|
)
|
|
(9,729
|
)
|
||
Property and equipment, net of accumulated depreciation (note 5)
|
6,945
|
|
|
3,183
|
|
||
Intangible assets (note 3)
|
99,445
|
|
|
352,642
|
|
||
Goodwill (note 3)
|
24,364
|
|
|
162,514
|
|
||
Total assets
|
$
|
275,919
|
|
|
$
|
712,291
|
|
Liabilities and stockholders' equity
|
|
|
|
|
|
||
Current liabilities:
|
|
|
|
|
|
||
Accounts payable and accrued liabilities (note 12)
|
$
|
9,910
|
|
|
$
|
8,827
|
|
Deferred revenue (note 4)
|
15
|
|
|
868
|
|
||
Liability-classified options (notes 2 and 6)
|
553
|
|
|
—
|
|
||
Warrants (notes 2 and 6)
|
107
|
|
|
883
|
|
||
Total current liabilities
|
10,585
|
|
|
10,578
|
|
||
Deferred revenue, net of current portion (note 4)
|
—
|
|
|
213
|
|
||
Loan payable (notes 2 and 9)
|
12,001
|
|
|
—
|
|
||
Contingent consideration (note 10)
|
9,065
|
|
|
7,497
|
|
||
Deferred tax liability (notes 3 and 8)
|
41,263
|
|
|
146,324
|
|
||
Total liabilities
|
72,914
|
|
|
164,612
|
|
||
Stockholders’ equity:
|
|
|
|
|
|
||
Common shares (note 6)
|
|
|
|
|
|
||
Authorized - unlimited number with no par value
|
|
|
|
|
|
||
Issued and outstanding: 54,841,494 (December 31, 2015 - 54,570,691)
|
867,393
|
|
|
834,240
|
|
||
Additional paid-in capital
|
36,543
|
|
|
30,206
|
|
||
Deficit
|
(651,149
|
)
|
|
(266,985
|
)
|
||
Accumulated other comprehensive loss
|
(49,782
|
)
|
|
(49,782
|
)
|
||
Total stockholders' equity
|
203,005
|
|
|
547,679
|
|
||
Total liabilities and stockholders' equity
|
$
|
275,919
|
|
|
$
|
712,291
|
|
|
Year ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Revenue (note 4)
|
|
|
|
|
|
||||||
Collaborations and contracts
|
$
|
229
|
|
|
$
|
13,309
|
|
|
$
|
11,738
|
|
Licensing fees, milestone and royalty payments
|
1,262
|
|
|
11,564
|
|
|
3,215
|
|
|||
Total revenue
|
1,491
|
|
|
24,873
|
|
|
14,953
|
|
|||
|
|
|
|
|
|
||||||
Expenses
|
|
|
|
|
|
|
|
|
|||
Research, development, collaborations and contracts
|
61,253
|
|
|
51,505
|
|
|
38,713
|
|
|||
General and administrative
|
39,438
|
|
|
26,438
|
|
|
8,683
|
|
|||
Depreciation of property and equipment
|
1,092
|
|
|
589
|
|
|
529
|
|
|||
Acquisition costs (note 2)
|
—
|
|
|
9,656
|
|
|
462
|
|
|||
Impairment of intangible assets (note 3)
|
253,197
|
|
|
39,007
|
|
|
—
|
|
|||
Impairment of goodwill (note 3)
|
138,150
|
|
|
—
|
|
|
—
|
|
|||
Total expenses
|
493,130
|
|
|
127,195
|
|
|
48,387
|
|
|||
|
|
|
|
|
|
||||||
Loss from operations
|
(491,639
|
)
|
|
(102,322
|
)
|
|
(33,434
|
)
|
|||
|
|
|
|
|
|
||||||
Other income (losses)
|
|
|
|
|
|
|
|
|
|||
Interest income
|
1,391
|
|
|
674
|
|
|
853
|
|
|||
Foreign exchange gains
|
1,120
|
|
|
21,771
|
|
|
4,127
|
|
|||
Gain on disposition of financial instrument (note 4)
|
1,000
|
|
|
—
|
|
|
—
|
|
|||
Decrease (increase) in fair value of warrant liability (note 2)
|
530
|
|
|
3,341
|
|
|
(10,383
|
)
|
|||
Increase in fair value of contingent consideration (note 2)
|
(1,568
|
)
|
|
(770
|
)
|
|
—
|
|
|||
Total other income (losses)
|
$
|
2,473
|
|
|
$
|
25,016
|
|
|
$
|
(5,403
|
)
|
|
|
|
|
|
|
||||||
Loss before income taxes
|
(489,166
|
)
|
|
(77,306
|
)
|
|
(38,837
|
)
|
|||
|
|
|
|
|
|
||||||
Deferred income tax recovery (notes 3 and 8)
|
105,002
|
|
|
16,185
|
|
|
—
|
|
|||
Net loss
|
$
|
(384,164
|
)
|
|
$
|
(61,121
|
)
|
|
$
|
(38,837
|
)
|
|
|
|
|
|
|
||||||
Loss per common share
|
|
|
|
|
|
|
|
|
|||
Basic
|
$
|
(7.24
|
)
|
|
$
|
(1.34
|
)
|
|
$
|
(1.80
|
)
|
Diluted
|
$
|
(7.24
|
)
|
|
$
|
(1.34
|
)
|
|
$
|
(1.80
|
)
|
Weighted average number of common shares
|
|
|
|
|
|
|
|
|
|||
Basic
|
53,074,401
|
|
|
45,462,324
|
|
|
21,603,136
|
|
|||
Diluted
|
53,074,401
|
|
|
45,462,324
|
|
|
21,603,136
|
|
|||
Other Comprehensive loss
|
|
|
|
|
|
|
|
|
|||
Cumulative translation adjustment
|
—
|
|
|
(27,469
|
)
|
|
(6,489
|
)
|
|||
Comprehensive loss
|
$
|
(384,164
|
)
|
|
$
|
(88,590
|
)
|
|
$
|
(45,326
|
)
|
|
Number
of shares |
|
Share
capital |
|
Additional paid-in
capital |
|
Deficit
|
|
Accumulated
other comprehensive loss |
|
Total
stockholders' equity |
|||||||||||
Balance, December 31, 2013
|
19,048,900
|
|
|
$
|
216,702
|
|
|
$
|
25,343
|
|
|
$
|
(167,027
|
)
|
|
$
|
(15,824
|
)
|
|
$
|
59,194
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
3,283
|
|
|
—
|
|
|
—
|
|
|
3,283
|
|
|||||
Issuance of common shares pursuant to exercise of options
|
648,506
|
|
|
5,034
|
|
|
(2,418
|
)
|
|
—
|
|
|
—
|
|
|
2,616
|
|
|||||
Issuance of common shares pursuant to exercise of warrants
|
615,763
|
|
|
11,791
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,791
|
|
|||||
Issuance of common shares in conjunction with the private offering, net of issuance costs of $2,462,000
|
2,125,000
|
|
|
56,477
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
56,477
|
|
|||||
Currency translation adjustment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6,489
|
)
|
|
(6,489
|
)
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(38,837
|
)
|
|
—
|
|
|
(38,837
|
)
|
|||||
Balance at December 31, 2014
|
22,438,169
|
|
|
290,004
|
|
|
26,208
|
|
|
(205,864
|
)
|
|
(22,313
|
)
|
|
88,035
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Stock-based compensation
|
—
|
|
|
16,687
|
|
|
5,406
|
|
|
—
|
|
|
—
|
|
|
22,093
|
|
|||||
Issuance of common shares pursuant to exercise of options
|
640,457
|
|
|
4,186
|
|
|
(2,535
|
)
|
|
—
|
|
|
—
|
|
|
1,651
|
|
|||||
Issuance of common shares pursuant to exercise of warrants
|
18,750
|
|
|
371
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
371
|
|
|||||
Issuance of common shares in conjunction with the private offering, net of issuance costs of $4,085,000
|
7,500,000
|
|
|
142,177
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
142,177
|
|
|||||
Increase of equity instruments in conjunction with the acquisition of Arbutus Inc. (note 3)
|
23,973,315
|
|
|
380,815
|
|
|
1,127
|
|
|
—
|
|
|
—
|
|
|
381,942
|
|
|||||
Currency translation adjustment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(27,469
|
)
|
|
(27,469
|
)
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(61,121
|
)
|
|
—
|
|
|
(61,121
|
)
|
|||||
Balance at December 31, 2015
|
54,570,691
|
|
|
834,240
|
|
|
30,206
|
|
|
(266,985
|
)
|
|
(49,782
|
)
|
|
547,679
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Stock-based compensation
|
—
|
|
|
31,986
|
|
|
6,176
|
|
|
—
|
|
|
—
|
|
|
38,162
|
|
|||||
Reclassification of equity to liability stock option awards (notes 2 and 6)
|
—
|
|
|
—
|
|
|
(3,243
|
)
|
|
—
|
|
|
—
|
|
|
(3,243
|
)
|
|||||
Certain fair value adjustments to liability stock option awards (notes 2 and 6)
|
—
|
|
|
—
|
|
|
3,621
|
|
|
—
|
|
|
—
|
|
|
3,621
|
|
|||||
Issuance of common shares pursuant to exercise of options
|
100,303
|
|
|
475
|
|
|
(217
|
)
|
|
—
|
|
|
—
|
|
|
258
|
|
|||||
Issuance of common shares pursuant to exercise of warrants
|
170,500
|
|
|
692
|
|
|
|
|
|
—
|
|
|
—
|
|
|
692
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(384,164
|
)
|
|
—
|
|
|
(384,164
|
)
|
|||||
Balance at December 31, 2016
|
54,841,494
|
|
|
$
|
867,393
|
|
|
$
|
36,543
|
|
|
$
|
(651,149
|
)
|
|
$
|
(49,782
|
)
|
|
$
|
203,005
|
|
|
Year ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
OPERATING ACTIVITIES
|
|
|
|
|
|
||||||
Net loss for the period
|
$
|
(384,164
|
)
|
|
$
|
(61,121
|
)
|
|
$
|
(38,837
|
)
|
Items not involving cash:
|
|
|
|
|
|
|
|
|
|||
Deferred income taxes (notes 3 and 8)
|
(105,061
|
)
|
|
(16,185
|
)
|
|
—
|
|
|||
Depreciation of property and equipment
|
1,092
|
|
|
589
|
|
|
529
|
|
|||
Loss (gain) on sale of property and equipment
|
174
|
|
|
—
|
|
|
(80
|
)
|
|||
Stock-based compensation - research, development, collaborations and contract expenses
|
11,155
|
|
|
7,869
|
|
|
2,343
|
|
|||
Stock-based compensation - general and administrative expenses
|
28,004
|
|
|
14,224
|
|
|
940
|
|
|||
Unrealized foreign exchange gains
|
(1,003
|
)
|
|
(21,966
|
)
|
|
(4,218
|
)
|
|||
Change in fair value of warrant liability
|
(530
|
)
|
|
(3,341
|
)
|
|
10,383
|
|
|||
Change in fair value of contingent consideration
|
1,568
|
|
|
770
|
|
|
—
|
|
|||
Impairment of intangible assets (note 3)
|
253,197
|
|
|
39,007
|
|
|
—
|
|
|||
Impairment of goodwill (note 3)
|
138,150
|
|
|
—
|
|
|
—
|
|
|||
Net change in non-cash operating items:
|
|
|
|
|
|
|
|
|
|||
Accounts receivable
|
735
|
|
|
628
|
|
|
(1,887
|
)
|
|||
Accrued revenue
|
|
|
|
349
|
|
|
(360
|
)
|
|||
Deferred expenses
|
—
|
|
|
—
|
|
|
167
|
|
|||
Investment tax credits receivable
|
(47
|
)
|
|
(188
|
)
|
|
(52
|
)
|
|||
Prepaid expenses and other assets
|
(115
|
)
|
|
159
|
|
|
(773
|
)
|
|||
Accounts payable and accrued liabilities
|
26
|
|
|
(2,489
|
)
|
|
6,253
|
|
|||
Deferred revenue
|
(1,066
|
)
|
|
(13,090
|
)
|
|
13,171
|
|
|||
Net cash used in operating activities
|
(57,885
|
)
|
|
(54,785
|
)
|
|
(12,421
|
)
|
|||
|
|
|
|
|
|
||||||
INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
|||
Disposition (acquisition) of investments
|
(82,551
|
)
|
|
9,645
|
|
|
(41,982
|
)
|
|||
Acquisition of restricted investment (note 2)
|
(12,601
|
)
|
|
—
|
|
|
—
|
|
|||
Cash acquired through acquisition
|
—
|
|
|
324
|
|
|
—
|
|
|||
Proceeds from sale of property and equipment
|
25
|
|
|
—
|
|
|
80
|
|
|||
Acquisition of property and equipment
|
(3,996
|
)
|
|
(2,287
|
)
|
|
(1,056
|
)
|
|||
Net cash provided by (used in) investing activities
|
(99,123
|
)
|
|
7,682
|
|
|
(42,958
|
)
|
|||
|
|
|
|
|
|
||||||
FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
|||
Proceeds from loan payable (notes 2 and 8)
|
12,001
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from issuance of common shares, net of issuance costs
|
—
|
|
|
142,177
|
|
|
56,477
|
|
|||
Issuance of common shares pursuant to exercise of options
|
192
|
|
|
1,651
|
|
|
2,616
|
|
|||
Issuance of common shares pursuant to exercise of warrants
|
445
|
|
|
42
|
|
|
1,583
|
|
|||
Net cash provided by financing activities
|
12,638
|
|
|
143,870
|
|
|
60,676
|
|
|||
|
|
|
|
|
|
||||||
Effect of foreign currency rate changes on cash and cash equivalents
|
1,004
|
|
|
(2,175
|
)
|
|
(1,827
|
)
|
|||
|
|
|
|
|
|
||||||
Increase in cash and cash equivalents
|
(143,366
|
)
|
|
94,592
|
|
|
3,470
|
|
|||
Cash and cash equivalents, beginning of period
|
166,779
|
|
|
72,187
|
|
|
68,717
|
|
|||
Cash and cash equivalents, end of period
|
$
|
23,413
|
|
|
$
|
166,779
|
|
|
$
|
72,187
|
|
|
|
|
|
|
|
||||||
Supplemental cash flow information
|
|
|
|
|
|
|
|
|
|||
Acquisition of property and equipment not yet paid
|
1,057
|
|
|
—
|
|
|
—
|
|
|||
Fair value of warrants exercised on a cashless basis
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(116
|
)
|
Investment tax credits received
|
$
|
—
|
|
|
$
|
24
|
|
|
$
|
—
|
|
Acquisition of Arbutus Inc. net of cash acquired
|
$
|
—
|
|
|
$
|
381,618
|
|
|
$
|
—
|
|
•
|
Level 1 inputs are quoted market prices for identical instruments available in active markets.
|
•
|
Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly. If the asset or liability has a contractual term, the input must be observable for substantially the full term. An example includes quoted market prices for similar assets or liabilities in active markets.
|
•
|
Level 3 inputs are unobservable inputs for the asset or liability and will reflect management’s assumptions about market assumptions that would be used to price the asset or liability.
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
December 31, 2016
|
|
|||
Assets
|
|
|
|
|
|
|
|
|||||||
Cash and cash equivalents
|
$
|
23,413
|
|
|
—
|
|
|
—
|
|
|
$
|
23,413
|
|
|
Short-term investments
|
107,146
|
|
|
—
|
|
|
—
|
|
|
107,146
|
|
|||
Restricted investment
|
12,601
|
|
|
—
|
|
|
—
|
|
|
12,601
|
|
|||
Total
|
$
|
143,160
|
|
|
—
|
|
|
—
|
|
|
$
|
143,160
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|||
Warrants
|
—
|
|
|
—
|
|
|
$
|
107
|
|
|
$
|
107
|
|
|
Liability-classified stock option awards
|
—
|
|
|
—
|
|
|
553
|
|
|
553
|
|
|||
Contingent consideration
|
—
|
|
|
—
|
|
|
9,065
|
|
|
9,065
|
|
|||
Total
|
—
|
|
|
—
|
|
|
9,725
|
|
|
$
|
9,725
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
December 31, 2015
|
|
|||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|||
Cash and cash equivalents
|
$
|
166,779
|
|
|
—
|
|
|
—
|
|
|
$
|
166,779
|
|
|
Guaranteed investment certificates
|
14,525
|
|
|
—
|
|
|
—
|
|
|
14,525
|
|
|||
Term deposit
|
10,070
|
|
|
—
|
|
|
—
|
|
|
10,070
|
|
|||
Total
|
$
|
191,374
|
|
|
—
|
|
|
—
|
|
|
$
|
191,374
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|||
Warrants
|
—
|
|
|
—
|
|
|
$
|
883
|
|
|
$
|
883
|
|
|
Contingent consideration
|
—
|
|
|
—
|
|
|
7,497
|
|
|
7,497
|
|
|||
Total
|
—
|
|
|
—
|
|
|
$
|
8,380
|
|
|
$
|
8,380
|
|
|
Liability at beginning
of the period
|
|
Fair value of
warrants exercised
in the period
|
|
Increase (decrease) in fair
value of warrants
|
|
Foreign exchange
loss
|
|
Liability at end
of the period
|
||||||||||
Year ended December 31, 2014
|
$
|
5,379
|
|
|
$
|
(10,208
|
)
|
|
$
|
10,383
|
|
|
$
|
(455
|
)
|
|
$
|
5,099
|
|
Year ended December 31, 2015
|
$
|
5,099
|
|
|
$
|
(334
|
)
|
|
$
|
(3,341
|
)
|
|
$
|
(541
|
)
|
|
$
|
883
|
|
Year ended December 31, 2016
|
$
|
883
|
|
|
$
|
(247
|
)
|
|
$
|
(529
|
)
|
|
$
|
—
|
|
|
$
|
107
|
|
|
Reclassification of equity to liability
(1)
|
|
Fair value of
liability-classified stock option awards exercised
in the period
|
|
Increase (decrease) in fair
value of liability
|
|
Liability at end
of the period
|
||||||||
Year ended December 31, 2016
|
$
|
1,909
|
|
|
$
|
(54
|
)
|
|
$
|
(1,302
|
)
|
|
$
|
553
|
|
|
Contingent consideration at beginning
of the period
|
|
Increase in fair
value of contingent consideration
|
|
Contingent consideration at end
of the period
|
||||||
Year ended December 31, 2015
(1)
|
$
|
6,727
|
|
|
$
|
770
|
|
|
$
|
7,497
|
|
Year ended December 31, 2016
|
$
|
7,497
|
|
|
$
|
1,568
|
|
|
$
|
9,065
|
|
|
Useful life (years)
|
||||
Laboratory equipment
|
|
|
5
|
|
|
Computer and office equipment
|
2
|
|
—
|
|
5
|
Furniture and fixtures
|
|
|
5
|
|
|
|
For the year ended December 31
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Numerator:
|
|
|
|
|
|
||||||
Net loss
|
$
|
(384,164
|
)
|
|
$
|
(61,121
|
)
|
|
$
|
(38,837
|
)
|
Denominator:
|
|
|
|
|
|
|
|
|
|||
Weighted average number of common shares
|
53,074,401
|
|
|
45,462,324
|
|
|
21,603,136
|
|
|||
Basic income (loss) per common share
|
$
|
(7.24
|
)
|
|
$
|
(1.34
|
)
|
|
$
|
(1.80
|
)
|
Diluted income (loss) per common share
|
$
|
(7.24
|
)
|
|
$
|
(1.34
|
)
|
|
$
|
(1.80
|
)
|
Year ended December 31
|
2016
|
|
2015
|
|
||
IPR&D – Immune Modulators
|
40,798
|
|
183,103
|
|
||
IPR&D – Antigen Inhibitors
|
14,811
|
|
36,437
|
|
||
IPR&D – cccDNA Sterilizers
|
43,836
|
|
133,102
|
|
||
Total IPR&D
|
$
|
99,445
|
|
$
|
352,642
|
|
|
Year ended December 31
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Collaborations and contracts
|
|
|
|
|
|
||||||
DoD (a)
|
$
|
—
|
|
|
$
|
6,764
|
|
|
$
|
8,407
|
|
Monsanto (b)
|
—
|
|
|
4,725
|
|
|
1,080
|
|
|||
BMS (c)
|
—
|
|
|
—
|
|
|
1,741
|
|
|||
Dicerna (d)
|
229
|
|
|
1,820
|
|
|
510
|
|
|||
Total research and development collaborations and contracts
|
229
|
|
|
13,309
|
|
|
11,738
|
|
|||
Licensing fees, milestone and royalty payments
|
|
|
|
|
|
|
|
|
|||
Monsanto licensing fees and milestone payments (b)
|
—
|
|
|
10,256
|
|
|
2,744
|
|
|||
Dicerna licensing fee (d)
|
1,066
|
|
|
1,053
|
|
|
131
|
|
|||
Other milestone and royalty payments (e)
|
196
|
|
|
255
|
|
|
340
|
|
|||
Total licensing fees, milestone and royalty payments
|
1,262
|
|
|
11,564
|
|
|
3,215
|
|
|||
Total revenue
|
$
|
1,491
|
|
|
$
|
24,873
|
|
|
$
|
14,953
|
|
|
December 31, 2016
|
|
|
December 31, 2015
|
|
||
DoD (a)
|
$
|
15
|
|
|
$
|
15
|
|
Monsanto current portion (b)
|
—
|
|
|
—
|
|
||
Dicerna current portion (d)
|
—
|
|
|
853
|
|
||
Deferred revenue, current portion
|
15
|
|
|
868
|
|
||
Monsanto long-term portion (b)
|
—
|
|
|
—
|
|
||
Dicerna long-term portion (d)
|
—
|
|
|
213
|
|
||
Total deferred revenue
|
$
|
15
|
|
|
$
|
1,081
|
|
December 31, 2016
|
Cost
|
|
|
Accumulated
depreciation
|
|
|
Net
book value
|
|
|||
Lab equipment
|
$
|
7,894
|
|
|
$
|
(4,305
|
)
|
|
$
|
3,589
|
|
Leasehold improvements
|
4,928
|
|
|
(4,454
|
)
|
|
474
|
|
|||
Computer hardware and software
|
2,103
|
|
|
(1,665
|
)
|
|
438
|
|
|||
Furniture and fixtures
|
374
|
|
|
(314
|
)
|
|
60
|
|
|||
Assets under construction
|
$
|
2,384
|
|
|
$
|
—
|
|
|
$
|
2,384
|
|
|
$
|
17,683
|
|
|
$
|
(10,738
|
)
|
|
$
|
6,945
|
|
December 31, 2015
|
Cost
|
|
|
Accumulated
depreciation
|
|
|
Net
book value
|
|
|||
Lab equipment
|
$
|
5,910
|
|
|
$
|
(3,748
|
)
|
|
$
|
2,162
|
|
Leasehold improvements
|
4,681
|
|
|
(4,189
|
)
|
|
492
|
|
|||
Computer hardware and software
|
2,014
|
|
|
(1,487
|
)
|
|
527
|
|
|||
Furniture and fixtures
|
307
|
|
|
(305
|
)
|
|
2
|
|
|||
|
$
|
12,912
|
|
|
$
|
(9,729
|
)
|
|
$
|
3,183
|
|
|
Common shares
purchasable upon
exercise of
warrants
|
|
|
Weighted average
exercise price (C$)
|
|
|
Weighted
average exercise
price (US$)
|
|
|
Range of
exercise prices
(C$)
|
|
|
Range of
exercise prices
(US$)
|
|
|
Weighted average remaining contractual life (years)
|
|
Aggregate
intrinsic value
(C$)
|
|
|
Aggregate
intrinsic value
(US$)
|
|
||||||||||||||||
Balance, December 31, 2014
|
398,250
|
|
|
$
|
2.95
|
|
|
$
|
2.67
|
|
|
$2.60
|
|
—
|
|
$
|
3.35
|
|
|
$2.35
|
|
—
|
|
$
|
3.03
|
|
|
1.8
|
|
$
|
5,902
|
|
|
$
|
5,343
|
|
||
Exercised
|
(18,750
|
)
|
|
2.88
|
|
|
2.25
|
|
|
2.60
|
|
—
|
|
3.35
|
|
|
2.03
|
|
—
|
|
2.62
|
|
|
|
|
|
|
|
|
|
||||||||
Balance, December 31, 2015
|
379,500
|
|
|
$
|
2.95
|
|
|
$
|
2.13
|
|
|
$2.60
|
|
—
|
|
$
|
3.35
|
|
|
$2.03
|
|
—
|
|
$
|
2.62
|
|
|
0.8
|
|
1,217
|
|
|
$
|
879
|
|
|||
Exercised
|
(170,500
|
)
|
|
3.35
|
|
|
2.53
|
|
|
3.35
|
|
—
|
|
3.35
|
|
|
2.53
|
|
—
|
|
2.53
|
|
|
|
|
|
|
|
|
|
||||||||
Expired
|
(8,000
|
)
|
|
3.35
|
|
|
2.53
|
|
|
3.35
|
|
—
|
|
3.35
|
|
|
2.53
|
|
—
|
|
2.53
|
|
|
|
|
|
|
|
|
|
||||||||
Balance, December 31, 2016
|
201,000
|
|
|
$
|
2.60
|
|
|
$
|
1.94
|
|
|
$2.60
|
|
—
|
|
$
|
2.60
|
|
|
$
|
1.94
|
|
|
—
|
|
$
|
1.94
|
|
|
0.2
|
|
$
|
139
|
|
|
$
|
104
|
|
|
As at December 31
|
||||||
|
2016
|
|
2015
|
||||
Dividend yield
|
—
|
%
|
|
—
|
%
|
||
Expected volatility
|
41.95
|
%
|
|
49.07
|
%
|
||
Risk-free interest rate
|
0.76
|
%
|
|
0.48
|
%
|
||
Expected average term (years)
|
0.2 years
|
|
|
0.6 years
|
|
||
Fair value of warrants outstanding
|
$
|
0.53
|
|
|
$
|
2.33
|
|
Aggregate fair value of warrants outstanding
|
$
|
107
|
|
|
$
|
883
|
|
Number of warrants outstanding
|
201,000
|
|
|
379,500
|
|
|
Number of
optioned
common shares
|
|
|
Weighted
average exercise
price (C$)
|
|
|
Weighted
average exercise
price (US$)
|
|
|
Aggregate
intrinsic
value (C$)
|
|
|
Aggregate
intrinsic
value (US$)
|
|
||||
Balance, December 31, 2013
|
1,730,765
|
|
|
$
|
4.45
|
|
|
$
|
4.32
|
|
|
$
|
7,030
|
|
|
$
|
6,826
|
|
Options granted
|
431,125
|
|
|
13.63
|
|
|
12.34
|
|
|
|
|
|
|
|
||||
Options exercised
|
(622,752
|
)
|
|
4.62
|
|
|
4.18
|
|
|
7,650
|
|
|
6,926
|
|
||||
Options forfeited, canceled or expired
|
(9,000
|
)
|
|
8.20
|
|
|
7.42
|
|
|
|
|
|
|
|
||||
Balance, December 31, 2014
|
1,530,138
|
|
|
6.95
|
|
|
6.29
|
|
|
16,573
|
|
|
15,004
|
|
||||
Options granted
|
1,309,625
|
|
|
N/A
|
|
|
16.57
|
|
|
|
|
|
|
|
||||
Options exercised
|
(398,293
|
)
|
|
5.03
|
|
|
3.93
|
|
|
6,887
|
|
|
5,386
|
|
||||
Options forfeited, canceled or expired
|
(151,207
|
)
|
|
19.29
|
|
|
15.09
|
|
|
|
|
|
|
|
||||
Balance, December 31, 2015
|
2,290,263
|
|
|
15.53
|
|
|
11.22
|
|
|
1,376
|
|
|
994
|
|
||||
Options reclassified to liability
1
|
(718,333
|
)
|
|
7.24
|
|
|
5.23
|
|
|
836
|
|
|
604
|
|
||||
Options granted
|
1,789,599
|
|
|
N/A
|
|
|
3.89
|
|
|
|
|
|
|
|
||||
Options exercised
|
(56,125
|
)
|
|
2.88
|
|
|
2.18
|
|
|
160
|
|
|
121
|
|
||||
Options forfeited, canceled or expired
|
(394,200
|
)
|
|
13.49
|
|
|
10.18
|
|
|
|
|
|
|
|
||||
Balance, December 31, 2016
|
2,911,204
|
|
|
$
|
11.45
|
|
|
$
|
8.53
|
|
|
$
|
75
|
|
|
$
|
56
|
|
1.
|
Due to the change in the Company's functional currency as of January 1, 2016, certain stock option awards with exercise prices denominated in Canadian dollars changed from equity classification to liability classification - see note 2.
|
|
|
Options outstanding December 31, 2016
|
|
Options exercisable December 31, 2016
|
||||||||||||||||||
Range of
Exercise prices (US$)
|
|
Number
of options
outstanding
|
|
|
Weighted
average
remaining
contractual
life (years)
|
|
|
Weighted
average
exercise
price (US$)
|
|
|
Number
of options
exercisable
|
|
|
|
Weighted
average
exercise
price (US$)
|
|
||||||
$1.12
|
|
to
|
|
$3.05
|
|
121,725
|
|
|
6.4
|
|
|
2.23
|
|
|
75,225
|
|
|
|
1.78
|
|
||
$3.28
|
|
to
|
|
$3.84
|
|
209,033
|
|
|
8.4
|
|
|
3.64
|
|
|
62,033
|
|
|
|
3.69
|
|
||
$3.94
|
|
to
|
|
$3.94
|
|
1,369,849
|
|
|
9.2
|
|
|
3.94
|
|
|
—
|
|
|
|
N/A
|
|
||
$3.98
|
|
to
|
|
$8.64
|
|
81,713
|
|
|
8.1
|
|
|
4.49
|
|
|
71,380
|
|
|
|
4.38
|
|
||
$9.11
|
|
to
|
|
$9.73
|
|
118,843
|
|
|
7.8
|
|
|
9.44
|
|
|
91,375
|
|
|
|
9.44
|
|
||
$9.88
|
|
to
|
|
$13.89
|
|
201,000
|
|
|
8.1
|
|
|
13.42
|
|
|
74,271
|
|
|
|
13.26
|
|
||
$17.57
|
|
to
|
|
$17.57
|
|
809,041
|
|
|
8.2
|
|
|
17.57
|
|
|
324,957
|
|
|
|
17.57
|
|
||
$1.12
|
|
to
|
|
$17.57
|
|
2,911,204
|
|
|
8.6
|
|
|
$
|
8.53
|
|
|
699,241
|
|
|
|
$
|
11.77
|
|
|
Number of
optioned
common shares
|
|
|
Weighted
average
fair value (C$)
|
|
|
Weighted
average
fair value (US$)
|
|
||
Non-vested at December 31, 2015
|
1,351,541
|
|
|
$
|
15.69
|
|
|
$
|
11.34
|
|
Options reclassified to liability-options
1
|
(134,000
|
)
|
|
10.80
|
|
|
7.80
|
|
||
Options granted
|
1,789,599
|
|
|
5.15
|
|
|
3.89
|
|
||
Options vested
|
(472,479
|
)
|
|
14.20
|
|
|
10.72
|
|
||
Non-vested options forfeited
|
(322,698
|
)
|
|
9.70
|
|
|
7.33
|
|
||
Non-vested at December 31, 2016
|
2,211,963
|
|
|
$
|
7.17
|
|
|
$
|
5.34
|
|
|
December 31,
|
|
January 1,
|
||||
|
2016
|
|
2016
|
||||
Dividend yield
|
—
|
%
|
|
—
|
%
|
||
Expected volatility
|
66.18
|
%
|
|
97.78
|
%
|
||
Risk-free interest rate
|
0.88
|
%
|
|
0.86
|
%
|
||
Expected average term (years)
|
3.6
|
|
|
5.3
|
|
||
Fair value of options outstanding
|
$
|
0.87
|
|
|
$
|
3.33
|
|
Fair value of vested liability-classified options (in thousands)
|
$
|
553
|
|
|
$
|
1,909
|
|
|
Number of
optioned
common shares
|
|
|
Weighted
average exercise
price (C$)
|
|
|
Weighted
average exercise
price (US$)
|
|
|
Aggregate
intrinsic
value (US$)
|
|
|||
Balance, January 1, 2016
|
718,333
|
|
|
$
|
7.24
|
|
|
$
|
5.23
|
|
|
$
|
604
|
|
Options exercised
|
(30,000
|
)
|
|
3.00
|
|
|
2.30
|
|
|
54
|
|
|||
Options forfeited, canceled or expired
|
(49,833
|
)
|
|
8.29
|
|
|
6.17
|
|
|
—
|
|
|||
Balance, December 31, 2016
|
638,500
|
|
|
$
|
7.35
|
|
|
$
|
5.48
|
|
|
$
|
116
|
|
|
|
Options outstanding December 31, 2016
|
|
Options exercisable December 31, 2016
|
||||||||||||||||
Range of
Exercise prices (US$)
|
|
Number
of options
outstanding
|
|
|
Weighted
average
remaining
contractual
life (years)
|
|
Weighted
average
exercise
price (US$)
|
|
|
Number
of options
exercisable
|
|
|
Weighted
average
exercise
price (US$)
|
|
||||||
$1.27
|
|
to
|
|
$1.79
|
|
120,000
|
|
|
3.7
|
|
$
|
1.48
|
|
|
120,000
|
|
|
$
|
1.48
|
|
$2.87
|
|
to
|
|
$3.84
|
|
120,000
|
|
|
3.6
|
|
3.42
|
|
|
120,000
|
|
|
3.42
|
|
||
$3.97
|
|
to
|
|
$4.28
|
|
74,000
|
|
|
1.6
|
|
4.22
|
|
|
74,000
|
|
|
4.22
|
|
||
$4.84
|
|
to
|
|
$6.18
|
|
76,250
|
|
|
0.7
|
|
5.83
|
|
|
76,250
|
|
|
5.83
|
|
||
$6.79
|
|
to
|
|
$6.79
|
|
150,000
|
|
|
6.8
|
|
6.79
|
|
|
150,000
|
|
|
6.79
|
|
||
$9.32
|
|
to
|
|
$12.21
|
|
98,250
|
|
|
6.0
|
|
11.53
|
|
|
83,500
|
|
|
11.44
|
|
||
$1.27
|
|
to
|
|
$12.21
|
|
638,500
|
|
|
4.2
|
|
$
|
5.48
|
|
|
623,750
|
|
|
$
|
5.32
|
|
|
Number of
optioned
common shares
|
|
|
Weighted
average
fair value (US$)
|
|
|
Non-vested at January 1, 2016
|
134,000
|
|
|
$
|
3.61
|
|
Options vested
|
(93,250
|
)
|
|
0.67
|
|
|
Non-vested options forfeited
|
(26,000
|
)
|
|
0.04
|
|
|
Non-vested at December 31, 2016
|
14,750
|
|
|
$
|
0.92
|
|
|
Number of Protiva
Options
|
|
|
Equivalent number
of Company
common shares
|
|
|
Weighted
average exercise
price (C$)
|
|
|
Weighted
average exercise
price (US$)
|
|
||
Balance, December 31, 2013
|
472,885
|
|
|
319,274
|
|
|
$
|
0.30
|
|
|
0.29
|
|
|
Options exercised
|
(38,145
|
)
|
|
(25,754
|
)
|
|
0.30
|
|
|
0.27
|
|
||
Options forfeited, canceled or expired
|
(1,000
|
)
|
|
(675
|
)
|
|
0.30
|
|
|
0.27
|
|
||
Balance, December 31, 2014
|
433,740
|
|
|
292,845
|
|
|
0.30
|
|
|
0.27
|
|
||
Options exercised
|
(358,675
|
)
|
|
(242,164
|
)
|
|
0.30
|
|
|
0.23
|
|
||
Options forfeited, canceled or expired
|
(8,065
|
)
|
|
(5,445
|
)
|
|
0.30
|
|
|
0.23
|
|
||
Balance, December 31, 2015
|
67,000
|
|
|
45,236
|
|
|
0.30
|
|
|
0.22
|
|
||
Options exercised
|
(21,000
|
)
|
|
(14,178
|
)
|
|
0.30
|
|
|
0.23
|
|
||
Options forfeited, canceled or expired
|
—
|
|
|
—
|
|
|
—
|
|
|
N/A
|
|
||
Balance, December 31, 2016
|
46,000
|
|
|
31,058
|
|
|
$
|
0.30
|
|
|
$
|
0.22
|
|
|
Number of OnCore
Options
|
|
|
Equivalent number
of Company
common shares
|
|
|
Weighted
average exercise
price (US$)
|
|
|
Balance, December 31, 2015
|
183,040
|
|
|
184,332
|
|
|
$
|
0.57
|
|
Options exercised
|
—
|
|
|
—
|
|
|
N/A
|
|
|
Options forfeited, canceled or expired
|
—
|
|
|
—
|
|
|
N/A
|
|
|
Balance, December 31, 2016
|
183,040
|
|
|
184,332
|
|
|
$
|
0.57
|
|
|
Number of
OnCore Options
|
|
|
Equivalent number
of Company
common shares
|
|
|
Weighted
average
fair value (US$)
|
|
|
Non-vested at December 31, 2015
|
96,382
|
|
|
97,063
|
|
|
$
|
16.42
|
|
Options vested
|
(33,331
|
)
|
|
(33,566
|
)
|
|
16.80
|
|
|
Non-vested options forfeited
|
—
|
|
|
—
|
|
|
N/A
|
|
|
Non-vested at December 31, 2016
|
63,051
|
|
|
63,497
|
|
|
$
|
16.80
|
|
|
Year ended December 31
|
||||||||||
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
Research, development, collaborations and contracts expenses
|
$
|
11,155
|
|
|
$
|
7,868
|
|
|
$
|
2,343
|
|
General and administrative expenses
|
28,004
|
|
|
14,225
|
|
|
940
|
|
|||
Total
|
$
|
39,159
|
|
|
$
|
22,093
|
|
|
$
|
3,283
|
|
|
Year ended December 31,
|
||||||||||
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
Computed taxes (recoveries) at Canadian federal and provincial tax rates
|
$
|
(127,183
|
)
|
|
$
|
(20,100
|
)
|
|
$
|
(10,097
|
)
|
Permanent and other differences
|
(3,598
|
)
|
|
769
|
|
|
2,594
|
|
|||
Change in valuation allowance - other
|
17,043
|
|
|
3,675
|
|
|
6,599
|
|
|||
Difference due to income taxed at foreign rates
|
(47,962
|
)
|
|
(7,874
|
)
|
|
—
|
|
|||
Stock-based compensation
|
9,727
|
|
|
7,345
|
|
|
904
|
|
|||
Impairment of goodwill
|
46,971
|
|
|
—
|
|
|
—
|
|
|||
Deferred income tax recovery
|
$
|
(105,002
|
)
|
|
$
|
(16,185
|
)
|
|
$
|
—
|
|
|
As at December 31,
|
||||||
|
2016
|
|
|
2015
|
|
||
Deferred tax assets (liabilities):
|
|
|
|
||||
Non-capital loss carryforwards
|
$
|
24,275
|
|
|
$
|
13,932
|
|
Research and development deductions
|
16,986
|
|
|
13,474
|
|
||
Book amortization in excess of tax
|
451
|
|
|
2,142
|
|
||
Share issue costs
|
486
|
|
|
777
|
|
||
Revenue recognized for tax purposes in excess of revenue recognized for accounting purposes
|
410
|
|
|
281
|
|
||
Tax value in excess of accounting value in lease inducements
|
58
|
|
|
77
|
|
||
Federal investment tax credits
|
8,630
|
|
|
6,303
|
|
||
Provincial investment tax credits
|
5,270
|
|
|
3,879
|
|
||
In-process research and development
|
(41,263
|
)
|
|
(146,324
|
)
|
||
Upfront license fees
|
536
|
|
|
629
|
|
||
Other
|
1,435
|
|
|
—
|
|
||
Total deferred tax assets (liabilities)
|
17,274
|
|
|
(104,830
|
)
|
||
Valuation allowance
|
(58,537
|
)
|
|
(41,494
|
)
|
||
Net deferred tax assets (liabilities)
|
$
|
(41,263
|
)
|
|
$
|
(146,324
|
)
|
Year ended December 31, 2017
|
$
|
1,475,444
|
|
Year ended December 31, 2018
|
1,539,323
|
|
|
Year ended December 31, 2019
|
1,203,863
|
|
|
Year ended December 31, 2020
|
656,469
|
|
|
Year ended December 31, 2021 and after
|
4,486,194
|
|
|
|
$
|
9,361,293
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Cash, cash equivalents and short-term investments
|
$
|
130,559
|
|
|
$
|
181,304
|
|
Less: Accounts payable and accrued liabilities
|
$
|
(9,910
|
)
|
|
$
|
(8,827
|
)
|
|
$
|
120,649
|
|
|
$
|
172,477
|
|
(in US$)
|
December 31, 2016
|
||
Cash and cash equivalents and short-term investments
|
$
|
43,094
|
|
Accounts receivable
|
289
|
|
|
Accrued revenue
|
128
|
|
|
Accounts payable and accrued liabilities
|
(3,238
|
)
|
|
|
$
|
40,273
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Trade accounts payable
|
$
|
3,215
|
|
|
$
|
2,610
|
|
Research and development accruals
|
3,131
|
|
|
2,358
|
|
||
Professional fee accruals
|
498
|
|
|
640
|
|
||
Deferred lease inducements
|
350
|
|
|
297
|
|
||
Payroll accruals
|
2,178
|
|
|
2,331
|
|
||
Other accrued liabilities
|
538
|
|
|
591
|
|
||
|
$
|
9,910
|
|
|
$
|
8,827
|
|
|
2016
|
||||||||||||||||||
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Q4
|
|
|
Total
|
|
|||||
Revenue
|
$
|
603
|
|
|
$
|
309
|
|
|
$
|
774
|
|
|
$
|
(195
|
)
|
|
$
|
1,491
|
|
Loss from operations
|
(19,977
|
)
|
|
(195,248
|
)
|
|
(18,975
|
)
|
|
(257,439
|
)
|
|
(491,639
|
)
|
|||||
Net loss
|
$
|
(15,874
|
)
|
|
$
|
(130,000
|
)
|
|
$
|
(19,595
|
)
|
|
$
|
(218,695
|
)
|
|
$
|
(384,164
|
)
|
Basic and diluted net loss per share
|
$
|
(0.31
|
)
|
|
$
|
(2.47
|
)
|
|
$
|
(0.37
|
)
|
|
$
|
(4.05
|
)
|
|
$
|
(7.24
|
)
|
|
2015
|
||||||||||||||||||
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Q4
|
|
|
Total
|
|
|||||
Revenue
|
$
|
4,682
|
|
|
$
|
3,440
|
|
|
$
|
4,065
|
|
|
$
|
12,686
|
|
|
$
|
24,873
|
|
Loss from operations
|
(18,006
|
)
|
|
(14,420
|
)
|
|
(58,138
|
)
|
|
(11,758
|
)
|
|
(102,322
|
)
|
|||||
Net loss
|
$
|
(11,989
|
)
|
|
$
|
(14,886
|
)
|
|
$
|
(28,982
|
)
|
|
$
|
(5,264
|
)
|
|
$
|
(61,121
|
)
|
Basic and diluted net loss per share
|
$
|
(0.40
|
)
|
|
$
|
(0.27
|
)
|
|
$
|
(0.57
|
)
|
|
$
|
(0.10
|
)
|
|
$
|
(1.34
|
)
|
Item 16.
|
Form 10-K Summary
|
|
ARBUTUS BIOPHARMA CORPORATION
|
|
|
|
|
|
By:
|
/s/ Mark Murray
|
|
|
Mark Murray
|
|
|
President and Chief Executive Officer
|
Signatures
|
|
Capacity in Which Signed
|
|
|
|
|
|
|
/s/ Vivek Ramaswamy
|
|
Director (Chairman)
|
Vivek Ramaswamy
|
|
|
|
|
|
/s/ Mark Murray
|
|
President and Chief Executive Officer and Director
|
Mark Murray
|
|
(Principal Executive Officer)
|
|
|
|
/s/ Bruce Cousins
|
|
Executive Vice President, Finance and Chief Financial Officer
|
Bruce Cousins
|
|
(Principal Financial Officer and Accounting Officer)
|
|
|
|
/s/ Herbert J. Conrad
|
|
Director
|
Herbert J. Conrad
|
|
|
|
|
|
/s/ Richard C. Henriques
|
|
Director
|
Richard C. Henriques
|
|
|
|
|
|
/s/ Frank Karbe
|
|
Director
|
Frank Karbe
|
|
|
|
|
|
/s/ Keith Manchester
|
|
Director
|
Keith Manchester
|
|
|
|
|
|
/s/ William T. Symonds
|
|
Chief Development Officer and Director
|
William T. Symonds
|
|
|
Exhibit
Number |
|
Description
|
|
|
|
2.1*
|
|
Agreement and Plan of Merger and Reorganization, dated January 11, 2015, by and among Tekmira Pharmaceuticals Corporation, TKM Acquisition Corporation and OnCore Biopharma, Inc. (incorporated herein by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K/A filed with the SEC on January 26, 2015).
|
|
|
|
3.1*
|
|
Notice of Articles and Articles of the Company (incorporated herein by reference to Exhibit 1.1 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
3.2*
|
|
Amendment to the Articles of the Company dated May 14, 2013 (incorporated herein by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 28, 2014).
|
|
|
|
3.3*
|
|
Governance Amendment to the Articles of the Company dated March 4, 2015, (incorporated herein by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on March 4, 2015).
|
|
|
|
3.4*
|
|
Approval of Quorum Policy of the Company, adopted January 31, 2015 (incorporated herein by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on February 5, 2015).
|
|
|
|
4.1*
|
|
Governance Agreement between the Company and Roivant Sciences Ltd., a Bermuda exempted company, dated January 11, 2015 (incorporated herein by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K/A filed with the SEC on January 26, 2015).
|
|
|
|
10.1†*
|
|
Amendment No. 1 to the Amended and Restated Agreement, between the Company (formerly Inex Pharmaceuticals Corporation) and Hana Biosciences, Inc., effective as of May 27, 2009 (incorporated herein by reference to Exhibit 4.1 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.2†*
|
|
Amended and Restated License Agreement, between Inex Pharmaceuticals Corporation and Hana Biosciences, Inc., dated April 30, 2007 (incorporated herein by reference to Exhibit 4.2 to the Registrant’s Amendment No. 1 to Form 20-F for the year ended December 31, 2010 filed with the SEC on January 31, 2012).
|
|
|
|
10.3†*
|
|
Sublicense Agreement, between Inex Pharmaceuticals Corporation and Alnylam Pharmaceuticals, Inc., dated January 8, 2007 (incorporated herein by reference to Exhibit 4.3 to the Registrant’s Amendment No. 1 to Form 20-F for the year ended December 31, 2010 filed with the SEC on January 31, 2012).
|
|
|
|
10.4†*
|
|
Settlement Agreement, between Sirna Therapeutics, Inc. and Merck & Co., Inc. and Protiva Biotherapeutics Inc. and Protiva Biotherapeutics (USA), Inc., effective as of October 9, 2007 (incorporated herein by reference to Exhibit 4.7 to the Registrant’s Amendment No. 1 to Form 20-F for the year ended December 31, 2010 filed with the SEC on January 31, 2012).
|
|
|
|
10.5*#
|
|
Executive Employment Agreement with Mark Murray, dated May 30, 2008 (incorporated herein by reference to Exhibit 4.11 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.6*#
|
|
Executive Employment Agreement with Peter Lutwyche, dated January 1, 2009 (incorporated herein by reference to Exhibit 4.12 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.7*#
|
|
Share Option Plan amended through May 12, 2009 (including form stock option agreements) (incorporated herein by reference to Exhibit 4.13 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.8*
|
|
Lease Agreement with Canada Lands Company CLC Limited dated December 15, 1997, as amended (incorporated herein by reference to Exhibit 4.14 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.9*#
|
|
Form of Indemnity Agreement (incorporated herein by reference to Exhibit 4.15 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.10†*
|
|
License Agreement between the University of British Columbia and Inex Pharmaceuticals Corporation executed on July 30, 2001 (incorporated herein by reference to Exhibit 4.17 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.11†*
|
|
Amendment Agreement between the University of British Columbia and Inex Pharmaceuticals Corporation dated July 11, 2006 (incorporated herein by reference to Exhibit 4.18 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.12†*
|
|
Second Amendment Agreement between the University of British Columbia and Inex Pharmaceuticals Corporation dated January 8, 2007 (incorporated herein by reference to Exhibit 4.19 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.13†*
|
|
Consent Agreement of the University of British Columbia to Inex/Alnylam Sublicense Agreement dated January 8, 2007 (incorporated herein by reference to Exhibit 4.20 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.14†*
|
|
Amendment No. 2 to the Amended and Restated Agreement, between the Company (formerly Inex Pharmaceuticals Corporation) and Hana Biosciences, Inc., effective as of September 20, 2010 (incorporated herein by reference to Exhibit 4.21 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2010 filed with the SEC on June 3, 2011).
|
|
|
|
10.15*#
|
|
Tekmira 2011 Omnibus Share Compensation Plan approved by shareholders on June 22, 2011 (incorporated herein by reference to Exhibit 4.25 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2011 filed with the SEC on March 27, 2012).
|
|
|
|
10.16†*
|
|
Settlement Agreement and General Release, by and among Tekmira Pharmaceuticals Corporation, Protiva Biotherapeutics Inc., Alnylam Pharmaceuticals, Inc., and AlCana Technologies, Inc., dated November 12, 2012 (incorporated herein by reference to Exhibit 4.26 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2012 filed with the SEC on March 27, 2013).
|
|
|
|
10.17†*
|
|
Cross-License Agreement by and among Alnylam Pharmaceuticals, Inc., Tekmira Pharmaceuticals Corporation and Protiva Biotherapeutics Inc., dated November 12, 2012 (incorporated herein by reference to Exhibit 4.27 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2012 filed with the SEC on March 27, 2013).
|
|
|
|
10.18†*
|
|
License Agreement by and among Protiva Biotherapeutics Inc. and Marina Biotech, Inc. dated November 28, 2012 (incorporated herein by reference to Exhibit 4.28 to the Registrant’s Annual Report on Form 20-F for the year ended December 31, 2012 filed with the SEC on March 27, 2013).
|
|
|
|
10.19*#
|
|
Employment Agreement with Bruce Cousins dated October 7, 2013 (incorporated herein by reference to Exhibit 10.31 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 28, 2014).
|
|
|
|
10.20†*
|
|
Services Agreement by and among Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Monsanto Company dated January 12, 2014 (incorporated herein by reference to Exhibit 10.32 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 28, 2014).
|
|
|
|
10.21†*
|
|
Option Agreement by and among Tekmira Pharmaceuticals Corporation, Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Monsanto Canada Inc. dated January 12, 2014 (incorporated herein by reference to Exhibit 10.33 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 28, 2014).
|
|
|
|
10.22†*
|
|
License and Services Agreement by and among Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Tekmira Pharmaceuticals Corporation dated January 12, 2014 (incorporated herein by reference to Exhibit 10.34 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 28, 2014).
|
|
|
|
10.23*
|
|
Forms of Lock-Up Agreement (incorporated herein by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K/A filed with the SEC on January 26, 2015).
|
|
|
|
10.24*
|
|
Form of Registration Rights Agreement (incorporated herein by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K/A filed with the SEC on January 26, 2015).
|
|
|
|
10.25*
|
|
Form of Standstill Agreement (incorporated herein by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K/A filed with the SEC on January 26, 2015).
|
|
|
|
10.26*
|
|
Form of Representation Letter (incorporated herein by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K/A filed with the SEC on January 26, 2015).
|
|
|
|
10.27*#
|
|
Executive Employment Agreement, dated as of August 4, 2015, between Arbutus Biopharma Corporation and Michael Abrams. (incorporated herein by reference to Exhibit 10.12 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
|
|
|
|
10.28*#
|
|
Executive Employment Agreement, dated as of August 4, 2015, between Arbutus Biopharma Corporation and Mark Kowalski. (incorporated herein by reference to Exhibit 10.13 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
|
|
|
|
10.29*†
|
|
License Agreement, between Tekmira Pharmaceuticals and Protiva Biotherapeutics and Dicerna Pharmaceuticals dated November 16, 2014 (incorporated herein by reference to Exhibit 10.41 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 13, 2015).
|
|
|
|
10.30*†
|
|
Manufacturing and Clinical Trial Agreement between Tekmira Pharmaceuticals and Protiva Biotherapeutics and the Chancellor Masters and Scholars of the University of Oxford, dated December 18, 2014 (incorporated herein by reference to Exhibit 10.42 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 13, 2015).
|
|
|
|
10.31*
|
|
Underwriting Agreement for 3,750,000 Common Shares with Stifel, Nicolaus & Company, dated October 17, 2013 (incorporated herein by reference to Exhibit 10.76 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 13, 2015).
|
|
|
|
10.32*
|
|
Underwriting Agreement for 2,125,000 Common Shares with Leerink Partners LLC, dated March 14, 2014 (incorporated herein by reference to Exhibit 10.77 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 13, 2015).
|
|
|
|
10.33*#
|
|
Executive Employment Agreement Elizabeth Howard, dated March 7, 2016 (incorporated herein by reference to Exhibit 10.78 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 9, 2016).
|
|
|
|
10.34*†
|
|
Amended and Restated Option Agreement by and among Arbutus Biopharma Corporation, Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Monsanto Canada Inc., dated March 4, 2016 (incorporated herein by reference to Exhibit 10.79 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 9, 2016)
|
|
|
|
10.35*†
|
|
Amended and Restated License and Services Agreement by and among Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Arbutus Biopharma Corporation, dated March 4, 2016 (incorporated herein by reference to Exhibit 10.80 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 9, 2016).
|
|
|
|
10.36*
|
|
First Amendment to the Protiva-Monsanto Services Agreement by and among Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Monsanto Company, dated March 4, 2016 (incorporated herein by reference to Exhibit 10.81 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 9, 2016).
|
|
|
|
10.37*
|
|
Letter Agreement between OnCore Biopharma, Inc. and Cytos Biotechnology AG, effective July 16, 2015 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, filed with the SEC on November 5, 2015).
|
|
|
|
10.38*
|
|
License Agreement between OnCore Biopharma, Inc. and Cytos Biotechnology Ltd. dated December 30, 2014 (incorporated herein by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, filed with the SEC on November 5, 2015).
|
|
|
|
10.39*#
|
|
Amending Agreement, dated as of November 2, 2015, among Arbutus Biopharma Corporation, Roivant Sciences Ltd., Patrick T. Higgins, Michael J. McElhaugh, Michael J. Sofia and Bryce A. Roberts (incorporated herein by reference to Exhibit 10.3 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, filed with the SEC on November 5, 2015).
|
|
|
|
10.40*
|
|
Amendment No. 1 to the Option Agreement by and among Tekmira Pharmaceuticals Corporation, Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Monsanto Canada Inc. dated January 12, 2014 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, filed with the SEC on August 14, 2014).
|
|
|
|
10.41*
|
|
Renewal and Modification of Lease Agreement with Canada Lands Company CLC Limited dated December 15, 1997, as amended (incorporated herein by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, filed with the SEC on August 14, 2014).
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10.42*
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Amendment No. 2 to the Option Agreement by and among Tekmira Pharmaceuticals Corporation, Protiva Biotherapeutics Inc., Protiva Agricultural Development Company Inc. and Monsanto Canada Inc. dated January 12, 2014 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, filed with the SEC on November 7, 2014).
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10.43*
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License Agreement by and between NeuroVive Pharmaceutical AB and OnCore Biopharma, Inc., dated as of September 8, 2014 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the SEC on May 6, 2015).
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10.44*
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Research Collaboration and Funding Agreement by and between Baruch S. Blumberg Institute and OnCore Biopharma, Inc., dated as of October 29, 2014 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the SEC on May 6, 2015).
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10.45*
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Stock Purchase Agreement by and among OnCore Biopharma, Inc. and each of the stockholders of Enantigen Therapeutics, Inc., dated as of October 1, 2014 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the SEC on May 6, 2015).
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10.46*
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Third Amendment to Option Agreement by and among Monsanto Canada, Inc., Tekmira Pharmaceuticals Corporation, Protiva Biotherapeutics, Inc. and Protiva Agricultural Development Company Inc., dated as of May 22, 2105 (incorporated herein by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.47*#
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Share Repurchase Agreement, dated effective as of July 11, 2015, between Tekmira Pharmaceuticals Corporation and Patrick T. Higgins (incorporated herein by reference to Exhibit 10.6 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.48*#
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Executive Employment Agreement, dated effective as of July 11, 2015, between OnCore Biopharma, Inc. and Michael J. Sofia (incorporated herein by reference to Exhibit 10.8 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.49*
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|
Share Repurchase Agreement, dated effective as of July 11, 2015, between Tekmira Pharmaceuticals Corporation and Michael J. Sofia (incorporated herein by reference to Exhibit 10.9 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.50*#
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Agreement to Serve as Chief Development Officer, dated as of May 29, 2015, between Tekmira Pharmaceuticals Corporation and William T. Symonds (incorporated herein by reference to Exhibit 10.10 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.51*#
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Executive Employment Agreement, dated as of August 4, 2015, between Arbutus Biopharma Corporation and Bruce Cousins (incorporated herein by reference to Exhibit 10.11 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.52*#
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Executive Employment Agreement, dated as of August 4, 2015, between Arbutus Biopharma Corporation and Peter Lutwyche (incorporated herein by reference to Exhibit 10.14 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 7, 2015).
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10.53*#
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|
Separation of Executive Employment Agreement and Share Repurchase Agreement between Arbutus Biopharma, Inc., Arbutus Biopharma Corporation and Patrick T. Higgins, dated April 20, 2016 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, filed with the SEC on May 4, 2016).
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10.54*
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|
Amended 2011 Omnibus Share Compensation Plan (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, filed with the SEC on August 4, 2016).
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10.55*
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2016 Omnibus Share and Incentive Plan (incorporated herein by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, filed with the SEC on August 4, 2016).
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10.56*
|
|
Amended and Restated Research Collaboration and Funding Agreement, between Arbutus Biopharma Inc. and the Baruch S. Blumberg Institute, dated June 6, 2016 (incorporated herein by reference to Exhibit 10.3 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, filed with the SEC on August 4, 2016).
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10.57*†
|
|
Lease Agreement between Arbutus Biopharma, Inc. and ARE-PA Region No. 7, LLC dated August 9, 2016 (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 3, 2016).
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10.58*
|
|
First Amendment to Lease Agreement between Arbutus Biopharma, Inc. and ARE-PA Region No. 7, LLC dated October 7, 2016 (incorporated herein by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 3, 2016).
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10.59*
|
|
Acknowledgment of Commencement Date in connection with Lease Agreement between Arbutus Biopharma, Inc. and ARE-PA Region No. 7, LLC dated August 9, 2016 and as amended on October, 7, 2016 (incorporated herein by reference to Exhibit 10.3 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 3, 2016).
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10.60*#
|
|
Termination and Severance Agreement between Arbutus Biopharma Corporation and Mark Kowalski, dated September 30, 2016 (incorporated herein by reference to Exhibit 10.4 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 3, 2016).
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10.61*#
|
|
Termination and Severance Agreement between Arbutus Biopharma Corporation and Michael Abrams, dated September 30, 2016 (incorporated herein by reference to Exhibit 10.5 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 3, 2016).
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10.62**
|
|
Notice of Contract Termination from the U.S. Department of Defense for the TKM-Ebola Contract, dated October 1, 2015.
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|
10.63**
|
|
Settlement Agreement and Release between Arbutus Biopharma Corporation and NeuroVive Pharmaceutical AB., dated October 19, 2016.
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10.64**
|
|
Notice of Termination of License Agreement between Arbutus Biopharma Corporation and Dicerna Pharmaceuticals Inc., dated November 20, 2016.
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10.65**
|
|
Notice of Termination of License Agreement between Arbutus Biopharma Corporation and Cytos Biotechnology Ltd. dated August 25, 2016.
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10.66**#
|
|
Executive Employment Agreement Transfer, dated as of November 17, 2016, between Arbutus Biopharma Inc. and William T. Symonds.
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10.67††
|
|
License Agreement between Arbutus Biopharma Corporation and Alexion Pharma Holding dated March 15, 2017.
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21.1**
|
|
List of Subsidiaries
|
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23.1**
|
|
Consent of KPMG LLP, an Independent Registered Public Accounting Firm
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31.1**
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14 or 15d-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
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31.2**
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14 or 15d-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
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32.1**
|
|
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
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32.2**
|
|
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
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|
101.INS**
|
|
XBRL Instance Document
|
101.SCH**
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL**
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.DEF**
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
101.LAB**
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE**
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
*
|
Previously filed
|
**
|
Filed herewith
|
†
|
Confidential treatment granted as to portions of this exhibit.
|
††
|
Confidential treatment has been requested as to portions of this exhibit.
|
#
|
Management Contract
|
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1 Month Arbutus Biopharma Chart |
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