Arbutus Biopharma Corporation (ABUS)
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Aclarion: the $19M cash pile chasing a tiny Nociscan revenue line
Aclarion has a distinctive MRS-based spine diagnostic workflow, a stronger post-financing cash balance, and visible CLARITY and payer proof gates, but FY2025 revenue was only $75,730 and the company still has to convert Nociscan from clinical promise into reim
OpenArbutus (ABUS): the $179M settlement windfall hiding inside a pre-commercial HBV biotech
ABUS is suddenly cash-relevant because of a Moderna/Genevant settlement receivable, but the core company is still a small clinical-stage HBV developer that must prove imdusiran can move beyond Phase 2a signals.
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