Arbutus Biopharma Corp

ABUS remains in Stage 2 Advancing after clearing multi-month resistance with a Momentum Breakout and sustained Lockout Rally, confirming institutional demand. The medium-term bias is bullish, anchored by rising EMAs, but price is extended and overbought, elevating pullback risk. Under a Speculative strategy and the Lockout Rally override, continuation participation is justified now on hold above the breakout zone, with support at the 9/20 EMAs.

• ↑Phase IIa: 33% of patients achieved undetectable hepatitis B surface antigen
• ↑$131 M cash funds operations into Q4 2026
• ↓2024 net cash burn of $63–67 M pressures $131 M cash balance