Arbutus Biopharma (NASDAQ:ABUS) Stock Sees Selling Pressure At Higher Level
Arbutus Biopharma (NASDAQ:ABUS) dropped 9% last week. The company and Vaccitech Plc (NASDAQ: VACC) collaborated to study a combination of chronic hepatitis B virus treatment for patients receiving standard-of-care nucleotide reverse transcriptase inhibitor therapy.
The companies will assess the pharmacokinetics, immunogenicity, antiviral activity, and safety of the company’s AB-729 combination, followed by Vaccitech’s VTP-300 in the phase 2a study. The study will commence in 2H 2021, and Arbutus will manage the study with oversight from a joint development committee comprising Vaccitech and Arbutus.
The company and Antios Therapeutics Inc. also entered a clinical collaboration agreement to study a triple combination of the company’s novel GaINAc delivered RNAi therapy, AB-729, with ATI-2173, Antios Therapeutics’ active site polymerase inhibitor nucleotide, and Viread in treating chronic hepatitis B virus subjects. In addition, the companies will evaluate AB-729, ATI-2173, and Viread combination in the ongoing phase 2a ANTT201 clinical study run by Antios. So, in the coming weeks, ABUS is a stock to watch.
Market Reaction:
On Friday, ABUS stock moved up slightly to close at $2.66 with more than 953k shares, compared to its average volume of 1.63 million shares. The stock has moved within a range of $2.5850 – 2.6800after opening the trade at $2.66. Over the past 52-week, the stock has been trading within a range of $2.2100 – 9.0200.
