Arbutus Biopharma Shares Jump After Achieving First Milestone Under COVID-19 Pact

Arbutus Biopharma Corporation ABUS has identified several molecules that inhibit the SARS-CoV-2 nsp5 main protease (Mpro), a validated target for treating COVID-19 and potential future coronavirus outbreaks. 

• In April 2021, Arbutus, X-Chem Inc, and Proteros biostructures GmbH entered a discovery research and license agreement of novel inhibitors targeting the SARS-CoV-2 nsp5 main protease. 
• Upon achieving this milestone, Arbutus has obtained a worldwide exclusive license to the identified molecules. 
• The parties will continue to accelerate the development of pan-coronavirus agents to treat COVID-19 and potential future coronavirus outbreaks.
• In exchange for that license, Arbutus shall make a milestone payment to X-Chem and Proteros.
• Related Link: Arbutus' Hepatitis B Candidate Shows Encouraging Antiviral Activity
• Price Action: ABUS shares are up 7.82% at $4 during the premarket session on the last check Tuesday.