WARMINSTER, PA — Arbutus Biopharma Corp. (Nasdaq: ABUS) expects to return as much as $230 million to shareholders after receiving about $178 million from Moderna, while expanding its patent litigation against Pfizer and BioNTech into Canada and Europe.
The planned capital return could begin in the third quarter of 2026 after Arbutus receives an anticipated dividend tied to its indirect ownership interest in Genevant Sciences. Any share repurchases remain subject to approval by Arbutus’ board and may not occur on the proposed timetable or at all.
Arbutus received the Moderna payment July 8 as its share of the noncontingent portion of a March settlement resolving global litigation over Moderna’s alleged infringement of lipid nanoparticle patents. The amount includes reimbursement of Arbutus’ litigation expenses under its licensing agreement with Genevant.
Arbutus owns approximately 16% of Genevant’s parent company and expects an additional dividend from that investment during the third quarter. The company did not disclose the anticipated dividend amount.
The shareholder return may take the form of a tender offer, including a modified Dutch auction, open-market purchases, privately negotiated transactions, accelerated repurchases or a combination of those methods.
Separately, Arbutus and Genevant filed three lawsuits alleging that Pfizer and BioNTech infringed patents covering lipid nanoparticle technology used in mRNA vaccines. The companies are seeking monetary damages and injunctions that could restrict sales of allegedly infringing products.
A case filed in Canada’s Federal Court seeks a permanent injunction and either damages or an accounting of profits tied to alleged infringement of Canadian Patent No. 2,721,333.
Two additional cases filed with the Unified Patent Court seek injunctions and financial relief, including potential recovery of profits, over alleged infringement of European patents EP 4 241 767 and EP 4 495 237.
The European actions cover 20 countries, including France, Germany, Italy, the Netherlands, Poland, Spain and Sweden.
The new cases broaden litigation already pending in the U.S. District Court for the District of New Jersey. That lawsuit accuses Pfizer and BioNTech of infringing five U.S. patents through the manufacture and sale of their COVID-19 vaccines.
Pfizer and BioNTech have not been found liable in the newly filed cases, and the litigation’s financial and commercial outcomes remain uncertain.
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