On May 17, 2024, Whitefort Capital Management LP announced that it has issued a press release and an open letter to shareholders of Arbutus Biopharma Corporation, stating that it appreciates having had the opportunity to speak with Board Chairman Frank Torti and Interim CEO and Board member Michael J. McElhaugh ahead of the Company?s Annual General and Special Meeting, and hope to continue its constructive engagement with them and other members of the Board going forward. In addition, Whitefort Capital stated that in its ongoing dialogue with the Company, it has requested that the Board act with urgency to terminate the Company?s at-the-market (ATM) program in order to avoid continued dilution and preserve the substantial value of the Company?s LNP patent infringement claims against Moderna, Inc. and Pfizer Inc/BioNTech SE. Further, Whitefort Capital Management stated that it calls on the Company to cease any further share issuances, urges the Company to launch a strategic review of its Hepatitis B virus portfolio by yearend, including potential license and collaboration agreements, and mentioned that it plans to vote against the Company?s proposal to proposed share increases to Company?s incentive plan, at the 2024 annual meeting of shareholders scheduled to be held on May 22, 2024.