Arbutus Biopharma Stocks Is Trading Higher On Pan-Coronavirus Research Pact

Arbutus Biopharma Corp ABUS, X-Chem Inc, and Proteros biostructures GmbH have entered into discovery, research, and license agreement focused on discovering novel inhibitors targeting the SARS-CoV-2 nsp5 main protease (Mpro).
The collaboration's goal is to identify safe and effective therapies against coronaviruses, including SARS-CoV-2.
The team-up will allow for the rapid screening of one of the largest small molecule libraries against Mpro (an essential protein required for the virus to replicate itself) and the use of structure-guided methods to optimize Mpro inhibitors rapidly.
The financial terms of the transaction were not disclosed.
Price Action: ABUS shares were trading 4.3% higher at $3.48 during the market trading session on the last check Thursday.