Arbutus Biopharma said it plans to repurchase up to $230 million of its common shares through a modified Dutch auction tender offer, offering between $5.00 and $5.75 per share in cash.
The company said the offer is expected to begin on or about August 24, 2026 and, unless extended or terminated, would expire on or about September 29, 2026. The buyback would be funded with cash on hand.
The announcement follows two recent cash-related milestones: Arbutus pointed to its March 2026 settlement with Moderna and the July 2026 initial payment under that settlement as the financial basis for returning capital to shareholders.
Arbutus said the tender offer would target up to $230 million, but the exact number of shares repurchased will depend on the final purchase price within the stated range. The company said the offer is expected to be subject to certain exemptive relief in Canada and the U.S. before it can proceed.
The company also said it continues to pursue its intellectual property disputes, including claims against Pfizer and BioNTech through its exclusive licensee Genevant. As a result of these announcements, the company's shares have moved 9.03% on the market, and are now trading at a price of $5.2005. For more information, read the company's full 8-K submission here.
