Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2015	Oct. 31, 2015
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Trading Symbol	abus
Entity Registrant Name	Arbutus Biopharma Corp
Entity Central Index Key	0001447028
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		54,569,791
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance Sheets(USD ($))	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 181,089,000	$ 72,187,000
Short-term investments	15,006,000	39,974,000
Accounts receivable	2,192,000	1,903,000
Accrued revenue	454,000	538,000
Investment tax credits receivable	52,000	86,000
Prepaid expenses and other assets	1,234,000	1,730,000
Total current assets	200,027,000	116,418,000
Long-term investments	10,041,000	0
Property and equipment	12,243,000	12,959,000
Less accumulated depreciation	(9,918,000)	(11,199,000)
Property and equipment, net of accumulated depreciation	2,325,000	1,760,000
Intangible assets	353,601,000	0
Goodwill	156,637,000	0
Total assets	722,631,000	118,178,000
Current liabilities:
Accounts payable and accrued liabilities	7,501,000	9,328,000
Deferred revenue	4,835,000	5,779,000
Warrants	1,495,000	5,099,000
Total current liabilities	13,831,000	20,206,000
Deferred revenue, net of current portion	6,888,000	9,937,000
Contingent consideration	6,665,000	0
Deferred tax liability	141,440,000	0
Total liabilities	168,824,000	30,143,000
Stockholders' equity:
Common shares Authorized - unlimited number with no par value Issued and outstanding: 54,569,791 (December 31, 2014 - 22,438,169)	828,578,000	290,004,000
Additional paid-in capital	28,538,000	26,208,000
Deficit	(261,721,000)	(205,864,000)
Accumulated other comprehensive loss	(41,588,000)	(22,313,000)
Total stockholders' equity	553,807,000	88,035,000
Total liabilities and stockholders' equity	$ 722,631,000	$ 118,178,000

Condensed Consolidated Balance Sheets (Parentheticals) (USD $)	Sep. 30, 2015	Dec. 31, 2014
Common shares, authorized
Common shares, no par value (in Dollars per share)	$ 0.0	$ 0.0
Common shares, shares issued	54,569,791	22,438,169
Common shares, shares outstanding	54,569,791	22,438,169

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue
Collaborations and contracts	$ 3,035	$ 3,578	$ 8,865	$ 8,411
Licensing fees, milestone and royalty payments	1,030	784	3,322	2,192
Total revenue	4,065	4,362	12,187	10,603
Expenses
Research, development, collaborations and contracts	16,354	9,309	36,601	26,811
General and administrative	7,706	1,764	18,084	5,601
Depreciation of property and equipment	153	133	420	416
Acquisition costs	0	0	9,656	0
Impairment of intangible assets	37,990	0	37,990	0
Total expenses	62,203	11,206	102,751	32,828
Loss from operations	(58,138)	(6,844)	(90,564)	(22,225)
Other income (losses)
Interest income	183	304	466	708
Foreign exchange gains	11,801	3,076	16,268	1,791
Decrease (increase) in fair value of warrant liability	1,976	(5,140)	2,777	(12,943)
Total other income (losses)	13,960	(1,760)	19,511	(10,444)
Loss before income taxes	(44,178)	(8,604)	(71,053)	(32,669)
Income tax benefit	15,196	0	15,196	0
Net loss	(28,982)	(8,604)	(55,857)	(32,669)
Loss per common share
Basic and diluted	$ (0.57)	$ (0.39)	$ (1.28)	$ (1.53)
Weighted average number of common shares
Basic and diluted	50,756,484	22,159,269	43,580,555	21,349,315
Comprehensive loss
Cumulative translation adjustment	(10,101)	(4,827)	(19,275)	(3,211)
Comprehensive loss	$ (39,083)	$ (13,431)	$ (75,132)	$ (35,880)

Condensed Consolidated Statement of Stockholders' Equity (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning Balance at Dec. 31, 2014	$ 290,004,000	$ 26,208,000	$ (205,864,000)	$ (22,313,000)	$ 88,035,000
Beginning Balance (Shares) at Dec. 31, 2014	22,438,169
Stock-based compensation	10,962,000	3,771,000			14,733,000
Issuance of common shares pursuant to exercise of options	4,243,000	(2,568,000)			1,675,000
Issuance of common shares pursuant to exercise of options (Shares)	639,557
Issuance of common shares pursuant to exercise of warrants	377,000				377,000
Issuance of common shares pursuant to exercise of warrants (Shares)	18,750
Issuance of common shares in conjunction with the private offering, net of issuance costs of $	142,177,000				142,177,000
Issuance of common shares in conjunction with the private offering, net of issuance costs of $ (Shares)	7,500,000
Issuance of equity instruments in conjunction with the acquisition of Arbutus Inc.	380,815,000	1,127,000			381,942,000
Issuance of equity instruments in conjunction with the acquisition of Arbutus Inc. (shares)	23,973,315
Currency translation adjustment				(19,275,000)	(19,275,000)
Net loss			(55,857,000)		(55,857,000)
Ending Balance at Sep. 30, 2015	$ 828,578,000	$ 28,538,000	$ (261,721,000)	$ (41,588,000)	$ 553,807,000
Ending Balance (Shares) at Sep. 30, 2015	54,569,791

Condensed Consolidated Statements of Cash Flow (USD $)	3 Months Ended		9 Months Ended
Condensed Consolidated Statements of Cash Flow (USD $)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net loss for the period	$ (28,982,000)	$ (8,604,000)	$ (55,857,000)	$ (32,669,000)
Items not involving cash:
Deferred Income taxes	(15,196,000)	0	(15,196,000)	0
Depreciation of property and equipment	153,000	133,000	420,000	416,000
Unrealized foreign exchange (gains) losses	(11,790,000)	(3,245,000)	(16,208,000)	(1,913,000)
Change in fair value of warrant liability	(1,976,000)	5,140,000	(2,777,000)	12,943,000
Impairment of intangible assets	37,990,000	0	37,990,000	0
Net change in non-cash operating items:
Accounts receivable	4,047,000	(1,852,000)	(577,000)	(2,030,000)
Accrued revenue	(164,000)	39,000	14,000	51,000
Deferred expenses	0	56,000	0	168,000
Prepaid expenses and other assets	469,000	(383,000)	171,000	342,000
Accounts payable and accrued liabilities	2,408,000	2,357,000	(2,935,000)	2,465,000
Deferred revenue	3,011,000	(806,000)	2,054,000	11,938,000
Net cash provided by (used in) operating activities	(2,527,000)	(6,720,000)	(38,168,000)	(5,575,000)
INVESTING ACTIVITIES
Disposition (acquisition) of short and long-term investments	(17,144,000)	(291,000)	10,275,000	(43,283,000)
Cash acquired through acquisition	0	0	324,000	0
Acquisition of property and equipment	(589,000)	(152,000)	(1,113,000)	(733,000)
Net cash provided by (used) in investing activities	(17,733,000)	(443,000)	9,486,000	(44,016,000)
FINANCING ACTIVITIES
Proceeds from issuance of common shares, net of issuance costs	0	0	142,177,000	56,477,000
Issuance of common shares pursuant to exercise of options	116,000	268,000	1,675,000	2,340,000
Issuance of common shares pursuant to exercise of warrants	0	416,000	43,000	1,390,000
Net cash provided by financing activities	116,000	684,000	143,895,000	60,207,000
Effect of foreign exchange rate changes on cash and cash equivalents	(5,972,000)	(611,000)	(6,311,000)	(1,156,000)
Increase in cash and cash equivalents	(26,116,000)	(7,090,000)	108,902,000	9,460,000
Cash and cash equivalents, beginning of period	207,205,000	85,267,000	72,187,000	68,717,000
Cash and cash equivalents, end of period	181,089,000	78,177,000	181,089,000	78,177,000
Non-cash transactions:
Fair value of warrants exercised on a cashless basis	0	0	0	(116,000)
Investment tax credits received	0	0	24,000	0
Acquisition of Arbutus Inc. excluding cash acquired	0	0	381,618,000	0
Research and Development Expense [Member]
Items not involving cash:
Stock-based compensation - general and administrative expenses	2,671,000	326,000	5,376,000	1,966,000
General and Administrative Expense [Member]
Items not involving cash:
Stock-based compensation - general and administrative expenses	$ 4,832,000	$ 119,000	$ 9,357,000	$ 748,000

Nature of business and future operations

9 Months Ended

Sep. 30, 2015

Nature of business and future operations [Text Block]

1. Nature of business and future operations

Arbutus Biopharma Corporation (the “Company” or “Arbutus”) is a Canadian biopharmaceutical business dedicated to discovering, developing, and commercializing a cure for patients suffering from chronic hepatitis B infection (“HBV”), a disease of the liver caused by hepatitis B virus (“HBV”). The Company is also developing a pipeline focused on advancing novel RNA interference therapeutics (RNAi) leveraging the Company’s expertise in Lipid Nanoparticle (“LNP”) technology.

Effective July 31, 2015, the corporate name changed from Tekmira Pharmaceuticals Corporation (“Tekmira”) to Arbutus Biopharma Corporation. Also effective July 31, 2015, the corporate name of the wholly-owned subsidiary, OnCore Biopharma, Inc. (“OnCore”) changed to Arbutus Biopharma Inc. (“Arbutus Inc.”). Including Arbutus Inc., the Company has five wholly-owned subsidiaries: Protiva Biotherapeutics Inc. (“Protiva”), Protiva Biotherapeutics (USA) Inc. (“Protiva USA”), Protiva Agricultural Development Company Inc. (“PADCo”), and Enantigen Therapeutics, Inc. (“Enantigen”).

The success of the Company is dependent on obtaining the necessary regulatory approvals to bring its products to market and achieve profitable operations. The continuation of the research and development activities and the commercialization of its products are dependent on the Company’s ability to successfully complete these activities and to obtain adequate financing through a combination of financing activities and operations. It is not possible to predict either the outcome of future research and development programs or the Company’s ability to continue to fund these programs in the future.

Significant Accounting Policies

9 Months Ended

Sep. 30, 2015

Significant Accounting Policies [Text Block]

2. Significant accounting policies

Basis of presentation

These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America (“U.S. GAAP”) for interim financial statements and accordingly, do not include all disclosures required for annual financial statements. These statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2014 and included in the Company’s 2014 annual report on Form 10-K. The unaudited condensed consolidated financial statements reflect, in the opinion of management, all adjustments and reclassifications necessary to present fairly the financial position, results of operations and cash flows at September 30, 2015 and for all periods presented. The results of operations for the three and nine months ended September 30, 2015 and September 30, 2014 are not necessarily indicative of the results for the full year. These condensed consolidated financial statements follow the same significant accounting policies as those described in the notes to the audited consolidated financial statements of the Company for the year ended December 31, 2014, except as described below.

Principles of Consolidation

These condensed consolidated financial statements include the accounts of the Company and four of its wholly-owned subsidiaries, Arbutus Inc., Protiva, Protiva USA, and Enantigen. All intercompany transactions and balances have been eliminated on consolidation.

The Company records its investment in PADCo using the equity method. The Company has determined that PADCo is a variable interest entity (“VIE”) of which it is not the primary beneficiary. The Company is not the primary beneficiary as it does not have the power to make the decisions that most significantly affect the economic performance of the VIE nor does not have the right to receive the benefits or the obligation to absorb losses that in either case could potentially be significant to the VIE. PADCo is described further in note 4(b).

Replacement awards

Replacement awards are share-based payment awards exchanged for awards held by employees of Arbutus Inc. As part of the Company’s acquisition of Arbutus Inc. (formerly OnCore), Arbutus (formerly Tekmira) shares were exchanged for Arbutus Inc.’s shares subject to repurchase rights held by Arbutus Inc.’s employees – see note 3.

As at the date of acquisition of Arbutus Inc., the Company determined the total fair value of replacement awards and attributed a portion of the replacement awards to pre-combination service as part of the total acquisition consideration, and a portion to post-combination service, which is recognized as compensation expense over the expiry period of repurchase provision rights subsequent to the acquisition date.

The replacement awards consist of common shares that were issued at acquisition. Accordingly, as stock compensation expense related to these awards is recognized, share capital is increased by a corresponding amount

Goodwill and intangible assets

The costs incurred in establishing and maintaining patents for intellectual property developed internally are expensed in the period incurred.

Intangible assets consist of in-process research and development arising from the Company’s acquisition of Arbutus Inc. – see note 3. In-process research and development (IPR&D) intangible assets are classified as indefinite-lived and are not amortized. IPR&D becomes definite-lived upon the completion or abandonment of the associated research and development efforts. Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives, which are the respective patent terms. Amortization begins when intangible assets with finite lives are put into use. If there is a major event indicating that the carrying value of intangible assets may be impaired, then management will perform an impairment test and if the carrying value exceeds the recoverable value, based on discounted future cash flows, then such assets are written down to their fair values. Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of Arbutus Inc. – see note 3. Goodwill has an indefinite accounting life and is therefore not amortized. Instead, goodwill is subject to a two-step impairment test on an annual basis, unless the Company identifies impairment indicators that would require earlier testing. The first step compares the fair value of the reporting unit to its carrying amount, which includes the goodwill. When the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not to be impaired, and the second step of the impairment test is unnecessary. If the carrying amount exceeds the implied fair value of the goodwill, the second step measures the amount of the impairment loss. If the carrying amount exceeds the fair value of the goodwill, an impairment loss is recognized equal to that excess.

The Company reviews the recoverable amount of intangible assets on an annual basis, and the annual evaluation for goodwill is performed as of November 30 each year. In addition, the Company evaluates for events or changes in the business that could indicate impairment and earlier testing. Such indicators include, but are not limited to on an ongoing basis: (a) industry and market considerations such as increased competitive environment or adverse change in legal factors including an adverse assessment by regulators; (b) an accumulation of costs significantly in excess of the amount originally expected for the development of the asset; (c) current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of the asset; and (d) if applicable, a sustained decrease in share price.

Income or loss per share

Income or loss per share is calculated based on the weighted average number of common shares outstanding. Diluted loss per share does not differ from basic loss per share since the effect of the Company’s stock options and warrants is anti-dilutive. Diluted income per share is calculated using the treasury stock method which uses the weighted average number of common shares outstanding during the period and also includes the dilutive effect of potentially issuable common shares from outstanding, in-the-money stock options and warrants. During the nine months ended September 30, 2015, potential common shares of 6,481,295 (September 30, 2014 – 2,356,025) were excluded from the calculation of income per common share because their inclusion would be anti-dilutive, of which 3,625,411 relates to shares issued subject to repurchase provisions as part of consideration paid for the acquisition of Arbutus Inc. – see note 3.

Fair value of financial instruments

The Company measures certain financial instruments and other items at fair value.

To determine the fair value, the Company uses the fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability. The three levels of inputs that may be used to measure fair value are as follows:

Level 1 inputs are quoted market prices for identical instruments available in active markets.
Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly. If the asset or liability has a contractual term, the input must be observable for substantially the full term. An example includes quoted market prices for similar assets or liabilities in active markets.

Level 3 inputs are unobservable inputs for the asset or liability and will reflect management’s assumptions about market assumptions that would be used to price the asset or liability.

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis, in thousands, and indicates the fair value hierarchy of the valuation techniques used to determine such fair value:

		Level 1	Level 2		Level 3		September 30, 2015
Assets
Cash and cash equivalents	$	181,089	-		-	$	181,089
Guaranteed investment certificate		15,006	-		-		15,006
Term deposit		10,041	-		-		10,041
Total	$	206,136				$	206,136

Liabilities
Warrants		-	-	$	1,495	$	1,495
Contingent consideration		-	-	$	6,665	$	6,665
Financial instrument		-	-		-		-
Total		-	-	$	8,160	$	8,160

		Level 1	Level 2		Level 3		December 31, 2014
Assets
Cash and cash equivalents	$	72,187	-		-	$	72,187
Guaranteed investment certificates		39,974	-		-		39,974
Total	$	112,161	-		-	$	112,161

Liabilities
Warrants		-	-	$	5,099	$	5,099
Financial instrument		-	-		-		-
Total		-	-	$	5,099	$	5,099

The Company acquired a term deposit in May 2015 with an original maturity of 24 months and it has been classified as a long-term investment on the balance sheet. The Company also acquired a Guaranteed Investment Certificate in August 2015 with an original maturity of 12 months and it has been classified as a short-term investment on the balance sheet. For the period ended September 30, 2015, the fair value of the long-term investment is $10,041,000, and the fair value of the short-term investment is $15,006,000 (C$20,027,000), which include the principal and accrued interest earned as at the balance sheet date.

The Company used a discounted cash flow model to determine the fair value of the financial instrument, related to Monsanto’s call option to acquire the equity or all of the assets of PADCo, as described in note 4(b). The fair value was determined at the date of recognition, and at each reporting date. The initial fair value of the financial liability was nil, and there has been no change to its fair value as at September 30, 2015.

Contingent consideration is a liability assumed by the Company from its acquisition of Arbutus Inc. – see notes 3 and 8. The Company used a discounted cash flow model to determine the fair value of the contingent consideration as at the acquisition date, and at each subsequent reporting date. The Company’s preliminary estimate of the fair value of the contingent consideration was $6,665,000 as at September 30, 2015.

The following table presents the changes in fair value of the Company’s warrants, in thousands:

		Opening liability of	Fair value of	Increase
	Liability at beginning	warrants issued in	warrants exercised	(decrease) in fair	Foreign exchange	Liability at end
	of the period	the period	in the period	value of warrants	(gain) loss	of the period
Nine months ended September 30, 2014	$5,379	-	$ ( 9,260)	$12,943	$(355)	$8,707
Nine months ended September 30, 2015	$5,099	-	$(334)	$ ( 2,777)	$(493)	$1,495

The change in fair value of warrant liability for the nine months ended September 30, 2015 is recorded in the statement of operations and comprehensive loss.

The weighted average Black-Scholes option-pricing assumptions and the resultant fair values, in thousands, for warrants outstanding at September 30, 2015 and at December 31, 2014 are as follows:

	September 30, 2015	December 31, 2014

Dividend yield	0.00%	0.00%
Expected volatility	65.43%	85.22%
Risk-free interest rate	0.52%	1.00%
Expected average term	0.9 years	0.5 years
Fair value of warrants outstanding	$3.94	$12.80
Aggregate fair value of warrants outstanding	$1,495	$5,099
Number of warrants outstanding	379,500	398,250

Foreign currency translation and reporting currency

Functional currency

The functional currency of the Company and its integrated subsidiaries (Protiva and Protiva USA) is the Canadian dollar. Foreign currency monetary assets and liabilities are translated into Canadian dollars at the rate of exchange prevailing at the balance sheet date. Non-monetary assets and liabilities are translated at historical exchange rates. The previous month’s average rate of exchange is used to translate revenue and expense transactions. Exchange gains and losses are included in income or loss for the period.

The local currency of Arbutus Inc. (including its subsidiary, Enantigen) is the United States dollars which has been determined to be its functional currency, as it is the currency of the primary economic environment in which Arbutus Inc. operates and expends cash. Foreign currency monetary assets and liabilities are translated into United States dollars at the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities are translated at historical exchange rates. The previous month’s average rate of exchange is used to translate revenue and expense transactions. Exchange gains and losses are included in income or loss for the period.

Reporting currency

The Company is using United States dollars as its reporting currency. All assets and liabilities are translated using the exchange rate at the balance sheet date. Revenues, expenses and other income (losses) are translated using the average rate for the period, except for large transactions, for which the exchange rate on the date of the transaction is used. Equity accounts are translated using the historical rate. The translation differences from the Company’s functional currency to the Company’s reporting currency of U.S. dollars are unrealized gains and losses; therefore, the differences are recorded in other comprehensive income (loss), and do not impact the calculation of Income or Loss per Share.

Recent accounting pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The update eliminates the requirement to retrospectively adjust the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill during the measurement period when new information is obtained about the facts and circumstances that existed as of the acquisition date, that if known, would have affected the measurement of the amounts initially recognized or would have resulted in the recognition of additional assets or liabilities. The amendments in this update are effective for fiscal years beginning after December 15, 2015, which for the Company means January 1, 2016, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this update. Early application permitted for financial statements that have not been issued. The Company does not plan to early adopt this update and is currently assessing the impact of the adoption.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASC 606). The standard is intended to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS by creating a new Topic 606, Revenue from Contracts with Customers. This guidance supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition – Construction-Type and Production-Type Contracts. The core principle of the accounting standard is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. The amendments should be applied by either (1) retrospectively to each prior reporting period presented; or (2) retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date to defer the effective date of Update 2014-09 for all entities by one year. The new guidance would be effective for fiscal years beginning after December 15, 2017, which for the Company means January 1, 2018. Entities are permitted to adopt in accordance with the original effective date if they choose. The Company has not yet determined the extent of the impact of adoption.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The update is intended to provide guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Under amendments to GAAP, the assessment period is within one year after the date that the financial statements are issued (or available to be issued). The amendments are effective for the annual period ending after December 15, 2016, which for the Company means January 1, 2017, and for annual periods and interim periods thereafter. Early application is permitted. The Company does not plan to early adopt this update. The extent on the impact of this adoption has not yet been determined.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Merger with Arbutus Biopharma Inc. (Formerly OnCore BioPharma, Inc.)

9 Months Ended

Sep. 30, 2015

Merger with Arbutus Biopharma Inc. (Formerly OnCore BioPharma, Inc.) [Text Block]

3. Merger with Arbutus Biopharma Inc. (formerly OnCore BioPharma, Inc.)

(a) Purchase Price Allocation

On January 11, 2015, the Company entered into a Merger Agreement to acquire 100% of the outstanding shares of Arbutus Inc. and its wholly-owned subsidiary, Enantigen (see note 8). Arbutus Inc. was a privately owned U.S. company focused on discovery, development and commercialization of an all-oral cure regimen for patients with HBV. The merger was approved by the Company’s shareholders on March 3, 2015 and consummated on March 4, 2015. Arbutus Inc.’s results of operations and fair value of assets acquired and liabilities assumed are included in the Company’s consolidated financial statements from the date of acquisition.

The transaction has been accounted for using the acquisition method based on ASC 805, Business Combinations, with Arbutus (formerly Tekmira) identified as the acquirer, based on managements’ analysis and evaluation of the form of the acquisition, the relative contribution and rights of the predecessor groups post-closing, and the relative number of shares issued by the Company on acquisition of Arbutus Inc. Under the acquisition method, the consideration transferred is measured at fair value; common shares as consideration are issued at the market price as at the acquisition date. The excess of the purchase price over the preliminary fair value assigned to the net assets acquired has been recorded as goodwill. Acquisition costs were expensed as incurred. The Company recorded $9,656,000 of acquisition costs for the nine-months ended September 30, 2015.

The Company issued consideration with a total fair value of $381,942,000 on acquisition. Of this consideration, 23,973,315 common shares were issued, which is comprised of 20,347,906 common shares issued without subjects and 3,625,412 common shares issued to Arbutus Inc.’s founding executives and subject to repurchase provisions. The fair value of the common shares issued without subjects has been determined to be the Company’s NASDAQ closing price of $18.26 on the date prior to the acquisition’s consummation, March 4, 2015. The total fair value of the common shares issued subject to repurchase provision has been determined to be $66,196,000, using the Black-Scholes pricing model with assumed risk-free interest rate of 0.74%, volatility of 81%, a zero dividend yield and an expected life of 4 years. Of the total fair value, $9,262,000 has been attributed as pre-combination service and included as part of the total acquisition consideration. The post-combination attribution of $56,934,000 will be recognized as compensation expense over the period of expiry of repurchase provision rights. The Company recorded $10,962,000 in stock-based compensation expense related to services performed during the period of expiration of repurchase provision rights from the acquisition date through to September 30, 2015. In July 2015, in conjunction with amendments to the employment contracts of Arbutus Inc.’s founding executives, the Company amended the repurchase provision rights period of expiry from August 2018 to August 2017. This amendment results in an acceleration of compensation expense recognized in each subsequent period by approximately $1,900,000 per quarter, effective in Q3 2015.

As at the acquisition date, 3,625,412 shares were issued and outstanding which were and continue to remain subject to a repurchase provision. Subsequent to the acquisition date and the July 2015 amendment to the repurchase provision rights, the rights expire at a rate of 302,120 on November 30, 2015 and February 29, 2016 and at a rate of 503,552 shares every three months commencing May 31, 2016.

The Company has further reserved 184,332 shares for the future exercise of Arbutus Inc. stock options. The total fair value of Arbutus Inc. stock options at the date of acquisition has been determined to be $3,287,000, using the Black-Scholes pricing model with an assumed risk-free interest rate of 0.97%, volatility of 78%, a zero dividend yield and an expected life of 8 years, which are consistent with the assumption inputs used by the Company to determine the fair value of its options. Of the total fair value, $1,127,000 has been attributed as pre-combination service and included as part of the total acquisition consideration. The post-combination attribution of $2,160,000 will be recognized as compensation expense over the vesting period of the stock options through to December 2018. The Company has included $330,000 compensation expense related to the vesting of Arbutus Inc. stock options from the acquisition date through to September 30, 2015.

The aggregate fair value of consideration transferred to acquire Arbutus Inc.’s outstanding shares has been determined to be $381,942,000, and has been attributed to preliminary fair values of assets acquired and liabilities assumed. The Company has refined the preliminary allocation of the purchase price for intangible assets, goodwill, contingent consideration and deferred tax liability from what was disclosed in prior periods. The following table summarizes the Company’s purchase price allocation as at September 30, 2015, which remains preliminary as the assessments of the fair value of assets acquired and liabilities assumed are ongoinging.

Consideration paid:
Common shares issued without subjects	$	371,553
Common shares issued subject to repurchase provision		9,262
Common shares issuable for Arbutus Inc. stock options		1,127
	$	381,942

Identifiable assets acquired and liabilities assumed:
Cash	$	324
Prepaid expenses and other assets		116
Accounts receivable		8
Property and equipment		147
Acquired intangible assets		391,591
Goodwill		156,637
Accounts payable and accrued liabilities		(3,580	)
Other noncurrent liabilities (note 8)		(6,665	)
Deferred income tax liability		(156,636	)
Total purchase price allocation	$	381,942

The preliminary fair value of intangible assets is estimated to be $391,591,000. The fair value of each IPR&D is estimated using the income approach. The income approach uses valuation techniques to discount future economic benefits attributed to the subject intangible asset to a present value. Present value is based on current market expectations about those future amounts and includes management’s estimates of risk-adjusted future incremental earnings that may be achieved upon regulatory approval, promotion, and distribution associated with the rights and includes estimated cash flows of approximately 20 years and a discount rate of approximately 13.9%. The identifiable intangible assets acquired consist of in-process research and development (IPR&D) HBV assets, as summarized in the table below:

		$
IPR&D - Cyclophilins		37,990
IPR&D - Immune Modulators		188,498
IPR&D - Antigen Inhibitors		35,374
IPR&D - cccDNA Sterilizers		129,729
Total IPR&D	$	391,591

All IPR&D acquired is currently classified as indefinite-lived and is not currently being amortized. IPR&D becomes definite-lived upon the completion or abandonment of the associated research and development efforts, and will be amortized from that time over an estimated useful life based on respective patent terms. The fair value of each IPR&D asset will continue to be evaluated on a quarterly basis for indicators of impairment.

Based on the preliminary fair values above, an amount of $156,637,000 has been allocated to goodwill, which represents the excess of the purchase price over the fair values assigned to the net assets acquired. Goodwill is attributable to synergies expected to arise after the Company’s acquisition of Arbutus Inc. The full amount of the preliminary value of goodwill has been assigned to the entire Company, since management has determined that the Company has only one reporting unit. The goodwill is not deductible for tax purposes, and is not amortized, but will be evaluated for impairment on an annual basis or more often if the Company identifies impairment indicators that would require earlier testing.

The amount of net loss of Arbutus Inc. included in the consolidated statements of operations from the acquisition date, through the period ended September 30, 2015 was $9,067,000. Arbutus Inc. did not earn any revenues from the acquisition date through the period ended September 30, 2015.

The following table presents the unaudited pro forma results for the three and nine months ended September 30, 2015 and 2014. The pro forma financial information combines the results of operations of Arbutus, Arbutus Inc., Protiva, Protiva USA, and Enantigen as though the businesses had been combined as of the beginning of fiscal 2014. The pro forma financial information is presented for informational purposes only, and is not indicative of the results of operations that would have been achieved if the merger had taken place at the beginning of fiscal 2014. The pro forma financial information presented includes acquisition costs, amortization charges for acquired tangible assets, estimated impairment charge on acquired intangible assets (as described in note 3b below), but does not include amortization charges for acquired intangible assets as these assets have not yet been put in use.

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2015			2014			2015			2014
Pro forma information
Gross Revenue	$	4,065		$	4,362		$	12,187		$	10,603
Loss from operations		(58,138	)		(11,222	)		(97,629	)		(35,501	)
Net loss		(28,928	)		(12,976	)		(62,922	)		(45,939	)
Basic and diluted loss per share		(0.57	)		(0.28	)		(1.31	)		(1.02	)

(b) Impairment evaluations for intangible assets and goodwill

As indicated in note 2 above, the Company will evaluate the recoverable amount of intangible assets on an annual basis and perform an annual evaluation of goodwill as of November 30 each year, unless there is an event or change in the business that could indicate impairment and earlier testing.

On October 28, 2015, the Company announced that the development of the cyclophilin drug candidate, OCB-030 has been discontinued. The decision was based on extensive preclinical evaluations performed by the Company of OCB-030 and other competitive cyclophilin inhibitors following the acquisition of Arbutus Inc., which concluded that cyclophilins do not play a meaningful role in HBV biology. Although the final conclusion was made subsequent to the period end, it reflected management’s best estimate as at September 30, 2015, and as such, the Company recorded an estimated impairment charge of $37,990,000 and a corresponding income tax benefit of $15,196,000 related to the decrease in deferred tax liability for the discontinuance of OCB-030 in the consolidated statement of operations and comprehensive loss. For all other IPR&D, no impairment triggers were identified. The following table summarizes the preliminary carrying values, net of estimated impairment of the intangible assets as at September 30, 2015:

		$
IPR&D - Cyclophilins		-
IPR&D - Immune Modulators		188,498
IPR&D - Antigen Inhibitors		35,374
IPR&D - cccDNA Sterilizers		129,729
Total IPR&D	$	353,601

The Company further determined that in conjunction with the sustained decline in the share price, the estimated impairment on cyclophilins reflect significant changes in the business that would trigger an earlier evaluation of the carrying value of goodwill prior to the annual impairment testing date of November 30. Goodwill was recorded as a result of the acquisition of Arbutus Inc. as described in note 3(a), and has a preliminary carrying value of $156,637,000. As part of the evaluation of the recoverability of goodwill, the Company has identified only one reporting unit to which the total preliminary carrying amount of goodwill has been assigned. The income approach is used to estimate the fair value of the reporting unit, which requires estimating future cash flows and risk-adjusted discount rates. Changes in these estimates and assumptions could materially affect the determination of fair value of the reporting unit and may result in impairment charges in future periods. As at September 30, 2015, the fair value of the reporting unit exceeded the preliminary carrying value of the reporting unit, and as such the second step of the impairment test, which measures the amount of impairment charge, was not required. In addition to the income approach, the Company considered the market capitalization of approximately $332,330,000 as at September 30, 2015. Although the Company’s carrying value of $553,807,000 exceeded the market capitalization, the Company reconciled the income approach determination of fair value with the market capitalization by considering macroeconomic factors, and as such, the Company does not believe that market capitalization appropriately reflected the value of the Company for the purpose of testing goodwill impairment in the interim. No impairment charge on goodwill was recorded for the period ended September 30, 2015.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Collaborations, contracts and licensing agreements

9 Months Ended

Sep. 30, 2015

Collaborations, contracts and licensing agreements [Text Block]

4. Collaborations, contracts and licensing agreements

The following tables set forth revenue recognized under collaborations, contracts and licensing agreements, in thousands:

		Three months ended September 30				Nine months ended September 30
		2015		2014		2015		2014

Collaborations and contracts
DoD (a)	$	2,002	$	1,493	$	6,909	$	5,594
Monsanto (b)		309		283		826		809
BMS (d)		-		1,552		-		1,758
Dicerna (e)		724		250		1,130		250
Total research and development collaborations and contracts		3,035		3,578		8,865		8,411

Licensing fees, milestone and royalty payments
Monsanto licensing fees and milestone payments (b)		727		730		2,374		1,901
Acuitas milestone payments (c)		-		-		-		150
Dicerna licensing fee (e)		263		-		789		-
Spectrum royalty payments (f)		40		54		159		141
Total licensing fees, milestone and royalty payments		1,030		784		3,322		2,192

Total revenue	$	4,065	$	4,362	$	12,187	$	10,603

The following table sets forth deferred collaborations and contracts revenue:

		September 30, 2015		December 31, 2014
DoD (a)	$	57	$	313
Monsanto current portion (b)		3,773		4,245
Dicerna current portion (e)		1,005		1,221
Deferred revenue, current portion		4,835		5,779
Monsanto long-term portion (b)		6,446		8,666
Dicerna long-term portion (e)		442		1,271
Total deferred revenue	$	11,723	$	15,716

(a) Contract with United States Government’s Department of Defense (“DoD”) to develop TKM-Ebola

On July 14, 2010, the Company signed a contract with the DoD to advance TKM-Ebola, an RNAi therapeutic utilizing the Company’s lipid nanoparticle technology to treat Ebola virus infection.

In the initial phase of the contract, funded as part of the Transformational Medical Technologies program, the Company was eligible to receive up to $34,700,000. This initial funding is for the development of TKM-Ebola including completion of preclinical development, filing an Investigational New Drug application with the United States Food and Drug Administration (“FDA”) and completing a Phase 1 human safety clinical trial. On May 8, 2013, the Company announced that the contract had been modified to support development plans that integrate recent advancements in lipid nanoparticle (“LNP”) formulation and manufacturing technologies. The contract modification increased the stage one targeted funding by an additional $6,970,000. On April 22, 2014, the Company and the DoD signed a contract modification to further increase the stage one targeted funding by $2,100,000 to $43,819,000. The additional funding is to compensate the Company for unrecovered overheads related to the temporary stop-work period that occurred in 2012 and to provide additional overhead funding should it be required. In May 2015, the Company and the DoD signed a contract modification to further increase stage one funding by up to $1,000,000.

The DoD has the option of extending the contract beyond the initial funding period to support the advancement of TKM-Ebola through to the completion of clinical development and FDA approval. Based on the contract’s budget this would provide the Company with up to $140,000,000 in funding for the entire program. In October 2014, the Company and the DoD exercised an option to add $7,000,000 for the manufacture of TKM-Ebola-Guinea (the “Ebola-Guinea Amendment”), developed by the Company, targeting the Ebola-Guinea strain responsible for the current outbreak in West Africa.

In March 2015, the Company and the DoD signed a contract modification to provide up to $2,250,000 to fund the Company for TKM- Ebola-Guinea IND submission expenses.

Under the contract, the Company is reimbursed for costs incurred, including an allocation of overhead costs, and is paid an incentive fee. At the beginning of the fiscal year the Company estimates its labor and overhead rates for the year ahead. At the end of the year the actual labor and overhead rates are calculated and revenue is adjusted accordingly. The Company’s actual labor and overhead rates will differ from its estimated rates based on actual costs incurred and the proportion of the Company’s efforts on contracts and internal products versus indirect activities. Within minimum and maximum collars, the amount of incentive fee the Company can earn under the contract varies based on costs incurred versus budgeted costs. During the contractual period, incentive fee revenue and total costs are impacted by management’s estimate and judgments which are continuously reviewed and adjusted as necessary using the cumulative catch-up method. At September 30, 2015, the Company believes it can reliably estimate the final contract costs so has recognized the portion of expected incentive fee which has been earned to date.

On October 1, 2015, the Company received formal notification from the DoD that, due to the unclear development path for TKM-Ebola and TKM-Ebola-Guinea, the Ebola-Guinea Manufacturing and the Ebola-Guinea IND submission statements of work had been terminated, subject to the completion of certain post-termination obligations. The TKM-Ebola portion of the contract is expected to complete before the end of 2015 at which point contract close out procedures will commence.

(b) Option and Services Agreements with Monsanto Company (“Monsanto”)

On January 13, 2014, the Company and Monsanto signed an Option Agreement and a Services Agreement (together, the “Agreements”). Under the Agreements, Monsanto has an option to obtain a license to use the Company’s proprietary delivery technology and related intellectual property for use in agriculture. Over the option period, which is expected to be approximately four years, the Company will provide lipid formulations for Monsanto’s research and development activities, and Monsanto will make certain payments to the Company to maintain its option rights. The maximum potential value of the transaction, following the successful completion of milestones, is $86,200,000.

In May 2015, the arrangement was amended to extend the option period by approximately five months, with payments up to $2,000,000 for the extension period. From inception of the contract to September 30, 2015, the Company had received $19,300,000 from Monsanto. The amounts received relate to research services and use of the Company’s technology over the option period, and are recognized as revenue on a straight-line basis over the extended option period.

Under the Agreements, the Company has established a wholly-owned subsidiary, PADCo. The Company has determined that PADCo is a variable interest entity (“VIE”); however, Monsanto is the primary beneficiary of the arrangement. PADCo was established to perform research and development activities, which have been funded by Monsanto in return for a call option to acquire the equity or all of the assets of PADCo. At any time during the option period, Monsanto may choose to exercise its option, in which case Monsanto would pay the Company an option exercise fee and would receive a worldwide, exclusive right to use the Company’s proprietary delivery technology in the field of agriculture. Monsanto may elect to terminate this option at their discretion. The Company retains all rights to therapeutics uses of all current intellectual property and intellectual property developed under the Agreements. The Company’s initial investment is not significant, and has no implied or unfunded commitments and the maximum exposure to loss is limited to the amount of investment in the entity. The Company has included its investment in PADCo in Other Assets. There were no significant assets or liabilities for PADCo as at September 30, 2015. There was no equity income or loss with respect to PADCo recorded for the nine months ended September 30, 2015.

(c)

License and collaboration with Alnylam Pharmaceuticals, Inc. (“Alnylam”) and Acuitas Therapeutics Inc. (“Acuitas”, formerly AlCana Technologies Inc.)

Milestone receipts and payments

In the nine months ended September 30, 2014, the Company earned a $150,000 milestone from Acuitas, subsequent to Acuitas receiving a milestone payment from Alnylam with respect to Alnylam initiating a Phase III trial for ALN-TTR02.

Arbitration with Alnylam and Ascletis Pharmaceuticals (Hangzhou) Co. Ltd. (“Ascletis”)

On June 21, 2013, the Company transferred manufacturing process technology to Ascletis to enable them to produce ALN-VSP, a product candidate licensed to them by Alnylam. The Company believes that under the new licensing agreement with Alnylam, the technology transfer to Ascletis triggers a $5,000,000 milestone obligation from Alnylam to the Company. However, Alnylam has demanded a declaration that the Company has not yet met its milestone obligations. The Company disputes Alnylam’s position. To remedy this dispute, the Company and Alnylam have commenced arbitration proceedings as provided for under the agreement. The hearing date for this arbitration took place in May 2015, and the decision of the arbitrator is pending. The Company has not recorded any revenue in respect of this milestone.

(d) Bristol-Myers Squibb (“BMS”) collaboration

On May 10, 2010 the Company announced the expansion of its research collaboration with BMS. Under the new agreement, BMS uses small interfering RNA (“siRNA”) molecules formulated by the Company in LNP technology to silence target genes of interest. BMS is conducting the preclinical work to validate the function of certain genes and share the data with the Company. The Company could use the preclinical data to develop RNAi therapeutic drugs against the therapeutic targets of interest. The Company received $3,000,000 from BMS concurrent with the signing of the agreement and recorded the amount as deferred revenue. The Company was required to provide a pre-determined number of LNP batches over the four-year agreement. BMS had a first right to negotiate a licensing agreement on certain RNAi products developed by the Company that evolve from BMS validated gene targets.

Revenue from the May 10, 2010 agreement with BMS was being recognized as the Company produces the related LNP batches.

The revenue earned for the nine months ended September 30, 2014 was related to BMS batches shipped during the period. In August 2014, the agreement expired and both companies’ obligations under the agreement ended.

(e) License and Development and Supply Agreement with Dicerna Pharmaceuticals, Inc. (“Dicerna”)

On November 16, 2014, the Company signed a License Agreement and a Development and Supply Agreement (together, the “Agreements”) with Dicerna to develop, manufacture, and commercialize products directed to the treatment of Primary Hyperoxaluria 1 (“PH1”). In consideration for the rights granted under the Agreements, Dicerna paid the Company an upfront cash payment of $2,500,000. The Company is also entitled to receive payments from Dicerna on manufacturing and services provided, as well as further payments with the achievement of development and regulatory milestones of up to $22,000,000, in aggregate, and potential commercial royalties. Further, under the Agreements, a joint development committee has been established to provide guidance and direction on the progression of the collaboration.

The Company determined the deliverables under the Agreements included the rights granted, participation in the joint development committee, materials manufactured and other services provided, as directed under the joint development committee. The Company has determined that manufacturing services and other services provided have standalone value, as a separate statement of work is executed and invoiced for each manufacturing or service work order. The relative fair values are determined as a batch price or fee is estimated upon the execution of each work order, with actual expenditures charged at comparable market rates with embedded margins on each work order. Manufacturing work orders are invoiced at the time of execution of the work order, at the initiation of manufacture, and at the release of materials. Revenue from service work orders is recognized as the services are performed. The license and participation in the joint development committee have been determined by the Company to not have standalone value due to the uniqueness of the subject matter under the Agreements. Therefore, these deliverables are treated as one unit of accounting and recognized as revenue over the performance period, which the Company has estimated to be approximately 28 months.

The Company believes the development and regulatory milestones are substantive, due to the existence of substantive uncertainty upon the execution of the arrangement, and that the achievement of the development and regulatory events are based, in part, on the Company’s performance and the occurrence of a specific outcome resulting from performance. The Company has not received any milestone payments to date.

(f) Agreements with Spectrum Pharmaceuticals, Inc. (“Spectrum”)

On May 6, 2006, the Company signed a number of agreements with Talon Therapeutics, Inc. (“Talon”, formerly Hana Biosciences, Inc.) including the grant of worldwide licenses (the “Talon License Agreement”) for three of the Company’s chemotherapy products, Marqibo®, Alocrest ^TM (Optisomal Vinorelbine) and Brakiva ^TM (Optisomal Topotecan).

On August 9, 2012, the Company announced that Talon had received accelerated approval for Marqibo from the FDA for the treatment of adult patients with Philadelphia chromosome negative acute lymphoblastic leukemia in second or greater relapse or whose disease has progressed following two or more anti-leukemia therapies. Marqibo is a liposomal formulation of the chemotherapy drug vincristine. There are no further milestones related to Marqibo but the Company is eligible to receive total milestone payments of up to $18,000,000 on Alocrest and Brakiva.

Talon was acquired by Spectrum in July 2013. The acquisition does not affect the terms of the license between Talon and the Company. On September 3, 2013, Spectrum announced that they had shipped the first commercial orders of Marqibo. For the three and nine months ended September 30, 2015, the Company recorded $40,000 and $159,000 in Marqibo royalty revenue (three and nine months ended September 30, 2014 - $54,000 and $141,000 respectively). For the nine months ended September 30, 2015, the Company accrued 2.5% in royalties due to TPC in respect of the Marqibo royalty earned by the Company – see note 8, contingencies and commitments.

Financing

9 Months Ended

Sep. 30, 2015

Financing [Text Block]

6. Financing

On March 25, 2015, the Company announced that it had completed an underwritten public offering of 7,500,000 common shares, at a price of $20.25 per share, representing gross proceeds of $151,875,000. The Company also granted the underwriters a 30 -day option to purchase an additional 1,125,000 shares for an additional $22,781,000 to cover any over-allotments. The underwriters did not exercise the option. The cost of financing, including commissions and professional fees, was $9,700,000, resulting in net proceeds of $142,177,000.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Concentrations of credit risk

9 Months Ended

Sep. 30, 2015

Concentrations of credit risk [Text Block]

7 . Concentrations of credit risk

Credit risk is defined by the Company as an unexpected loss in cash and earnings if a collaborative partner is unable to pay its obligations in due time. The Company’s main source of credit risk is related to its accounts receivable balance which principally represents temporary financing provided to collaborative partners in the normal course of operations.

The Company does not currently maintain a provision for bad debts as the majority of accounts receivable are from collaborative partners or government agencies and are considered low risk.

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at September 30, 2015 was the accounts receivable balance of $2,192,000 (December 31, 2014 - $1,903,000).

All accounts receivable balances were current as at September 30, 2015 and at December 31, 2014.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References+ Details

Contingencies and commitments

9 Months Ended

Sep. 30, 2015

Contingencies and commitments [Text Block]

8. Contingencies and commitments

Product development partnership with the Canadian Government

The Company entered into a Technology Partnerships Canada ("TPC") agreement with the Canadian Federal Government on November 12, 1999. Under this agreement, TPC agreed to fund 27% of the costs incurred by the Company, prior to March 31, 2004, in the development of certain oligonucleotide product candidates up to a maximum contribution from TPC of $7,179,000 (C$9,323,000). As at September 30, 2015, a cumulative contribution of $2,774,000 (C$3,702,000) has been received and the Company does not expect any further funding under this agreement. In return for the funding provided by TPC, the Company agreed to pay royalties on the share of future licensing and product revenue, if any, that is received by the Company on certain non-siRNA oligonucleotide product candidates covered by the funding under the agreement. These royalties are payable until a certain cumulative payment amount is achieved or until a pre-specified date. In addition, until a cumulative amount equal to the funding actually received under the agreement has been paid to TPC, the Company agreed to pay 2.5% royalties on any royalties the Company receives for Marqibo. For the three and nine months ended September 30, 2015, the Company earned royalties on Marqibo sales in the amount of $40,000 and $159,000 respectively (three and nine months ended September 30, 2014 – $54,000 and $141,000 respectively) (see note 4(f)), resulting in $4,000 being recorded by the Company as royalty payable to TPC (September 30, 2014 - $4,000). The cumulative amount paid or accrued up to September 30, 2015 was $10,000, resulting in the contingent amount due to TPC being $2,765,000 (C$3,690,000).

License agreement with Marina Biotech, Inc. (“Marina”)

On November 29, 2012 the Company announced a worldwide, non-exclusive license to a novel RNAi payload technology called Unlocked Nucleobase Analog (“UNA”) from Marina for the development of RNAi therapeutics.

UNA technology can be used in the development of RNAi therapeutics, which treats disease by silencing specific disease causing genes. UNAs can be incorporated into RNAi drugs and have the potential to improve them by increasing their stability and reducing off-target effects.

Under the license agreement the Company paid Marina an upfront fee of $300,000 during the year ended December 31, 2012. A further license payment of $200,000 was paid in 2013 and the Company will make milestone payments of up to $3,250,000 and royalties on each product developed by the Company that uses Marina’s UNA technology. The payments to Marina are expensed to research, development, collaborations and contracts expense.

Effective August 9, 2013, Marina’s UNA technology was acquired by Arcturus Therapeutics, Inc. (“Arcturus”) and the UNA license agreement between the Company and Marina was assigned to Arcturus. The terms of the license are otherwise unchanged. On December 22, 2014, the Company received clearance from Health Canada to conduct a Phase I Clinical Study with TKM-HBV, which utilizes Arcturus’ UNA technology. This triggered the accrual of $250,000 as at December 31, 2014 related to the milestone payable to Arcturus upon the dosing of first subject in a Phase I clinical trial of TKM-HBV, which occurred and was paid by the Company in January 2015.

Arbitration with the University of British Columbia (“UBC”)

Certain early work on lipid nanoparticle delivery systems and related inventions was undertaken at UBC. These inventions are licensed to the Company by UBC under a license agreement, initially entered in 1998 as amended in 2001, 2006 and 2007. The Company has granted sublicenses under the UBC license to Alnylam as well as to Spectrum. Alnylam has in turn sublicensed back to the Company under the licensed UBC patents for discovery, development and commercialization of RNAi products. In 2009, the Company entered into a supplemental agreement with UBC, Alnylam and Acuitas, in relation to a separate research collaboration to be conducted among UBC, Alnylam and Acuitas to which the Company has license rights. The settlement agreement signed in late 2012 to resolve the litigation among the Company, Alnylam, and Acuitas, provided for the effective termination of all obligations under such supplemental agreement as between and among all litigants.

On November 10, 2014, UBC filed a notice of arbitration against the Company and on January 16, 2015, filed a Statement of Claim, which alleges entitlement to $3,500,000 in allegedly unpaid royalties based on publicly available information, and an unspecified amount based on non-public information. UBC also seeks interest and costs, including legal fees. The Company is currently disputing UBC’s allegations, and no dates have been scheduled for this arbitration. The Company has not recorded an estimate of the possible loss associated with this arbitration, due to the uncertainties related to both the likelihood and amount of any possible loss or range of loss. Costs related to the arbitration have been recorded by the Company as incurred.

Contingent consideration from Arbutus Inc. acquisition of Enantigen and License Agreements between Enantigen and the Baruch S. Blumberg Institute (“Blumberg”) and Drexel University (“Drexel”)

In October 2014, Arbutus Inc. acquired all of the outstanding shares of Enantigen pursuant to a stock purchase agreement. Through this transaction, Arbutus Inc. acquired a HBV surface antigen secretion inhibitor program and a capsid assembly inhibitor program, each of which are now assets of Arbutus, following the Company’s merger with Arbutus Inc. – see note 3.

Under the stock purchase agreement, Arbutus Inc. agreed to pay up to a total of $21,000,000 to Enantigen’s selling stockholders upon the achievement of certain triggering events related to Enantigen’s two programs in pre-clinical development related to HBV therapies, as well as $102.5 million to Enantigen’s selling stockholders upon the achievement of certain development milestones and sales performance milestones, respectively. The first triggering event is the enrollment of first patient in Phase 1b clinical trial in HBV patients, which the Company does not expect to occur in the next twelve-month period.

The regulatory, development and sales milestone payments have an estimated fair value of approximately $6,665,000 as at the date of acquisition of Arbutus Inc., and have been treated as contingent consideration payable in the purchase price allocation (note 3), based on information available at the date of acquisition, using a probability weighted assessment of the likelihood the milestones would be met and the estimated timing of such payments, and then the potential contingent payments were discounted to their present value using a probability adjusted discount rate that reflects the early stage nature of the development program, time to complete the program development, and overall biotech indices.

As part of its acquisition of Arbutus Inc. on March 4, 2015 as described in note 3, the other non-current liabilities assumed by the Company included the contingent consideration of $6,665,000 related to Arbutus Inc.’s acquisition of Enantigen. Contingent consideration is considered as a financial liability, and the Company determines its fair value at each reporting period with any changes in fair value from the previous reporting period recorded in the statement of operations and comprehensive loss. The Company is currently undertaking valuation assessments of assets acquired and liabilities assumed from Arbutus Inc., which includes a valuation assessment of the contingent consideration. No change to the fair value of the contingent consideration has been recorded for the three and nine-months ended September 30, 2015.

Drexel and Blumberg

In February 2014, Arbutus Inc. entered into a license agreement with Blumberg and Drexel that granted an exclusive, worldwide, sub-licensable license to three different compound series: cccDNA inhibitors, capsid assembly inhibitors and HCC inhibitors.

In partial consideration for this license, Arbutus Inc. paid a license initiation fee of $150,000 and issued warrants to Blumberg and Drexel. The warrants were exercised prior to the Company’s acquisition of Arbutus Inc. Under this license agreement, Arbutus Inc. also agreed to pay up to $3,500,000 in development and regulatory milestones per licensed compound series, up to $92,500,000 in sales performance milestones per licensed product, and royalties in the mid-single digits based upon the proportionate net sales of licensed products in any commercialized combination. The Company is obligated to pay Blumberg and Drexel a double digit percentage of all amounts received from the sub-licensees, subject to customary exclusions.

In November 2014, Arbutus Inc. entered into an additional license agreement with Blumberg and Drexel pursuant to which it received an exclusive, worldwide, sub-licensable license under specified patents and know-how controlled by Blumberg and Drexel covering epigenetic modifiers of cccDNA and STING agonists. In consideration for these exclusive licenses, Arbutus Inc. made an upfront payment of $50,000. Under this agreement, the Company will be required to pay up to $1,000,000 for each licensed product upon the achievement of a specified regulatory milestone and a low single digit royalty, based upon the proportionate net sales of compounds covered by this intellectual property in any commercialized combination. The Company is also obligated to pay Blumberg and Drexel a double digit percentage of all amounts received from its sub-licensees, subject to exclusions.

Research Collaboration and Funding Agreement with Blumberg

In October 2014, Arbutus Inc. entered into a research collaboration and funding agreement with Blumberg under which the Company will provide $1,000,000 per year of research funding for three years, renewable at the Company’s option for an additional three years, for Blumberg to conduct research projects in HBV and liver cancer pursuant to a research plan to be agreed upon by the parties. Blumberg has exclusivity obligations to Arbutus with respect to HBV research funded under the agreement. In addition, the Company has the right to match any third party offer to fund HBV research that falls outside the scope of the research being funded under the agreement. Blumberg has granted the Company the right to obtain an exclusive, royalty bearing, worldwide license to any intellectual property generated by any funded research project. If the Company elects to exercise its right to obtain such a license, the Company will have a specified period of time to negotiate and enter into a mutually agreeable license agreement with Blumberg. This license agreement will include the following pre negotiated upfront, milestone and royalty payments: an upfront payment in the amount of $100,000 ; up to $8,100,000 upon the achievement of specified development and regulatory milestones; up to $92,500,000 upon the achievement of specified commercialization milestones; and royalties at a low single to mid-single digit rates based upon the proportionate net sales of licensed products from any commercialized combination.

NeuroVive Pharmaceutical AB (“NeuroVive”)

In September 2014, Arbutus Inc. entered into a license agreement with NeuroVive that granted them an exclusive, worldwide, sub-licensable license to develop, manufacture and commercialize, for the treatment of HBV, oral dosage form sanglifehrin based cyclophilin inhibitors (including OCB-030). Under this license agreement, the Company has been granted a non-exclusive, royalty free right and license and right of reference to NeuroVive’s relevant regulatory approvals and filings for the sole purpose of developing, manufacturing and commercializing licensed products for the treatment of HBV. Under this license agreement, the Company has (1) an option to expand its exclusive license to include treatment of viral diseases other than HBV and (2) an option, exercisable upon specified conditions, to expand its exclusive license to include development, manufacture and commercialization of non-oral variations of licensed products for treatment of viral diseases other than HBV. NeuroVive retains all rights with respect to development, manufacture and commercialization of licensed products and non-oral variations of licensed products for all indications (other than HBV) for which the Company has not exercised its option.

In partial consideration for this license, Arbutus Inc. paid NeuroVive a license fee of $1 million. As described in note 3 above, Arbutus Inc. became our wholly owned subsidiary by way of a Merger Agreement, which does not trigger any milestone payments. We have conducted significant research and analysis on the NeuroVive Product, OCB-030. Based on this research and analysis, we have decided to discontinue the OCB-030 development program. Otherwise, the license agreement and ongoing relationship with NeuroVive remains in full effect at this time.

Cytos Biotechnology Ltd (“Cytos”)

On December 30, 2014, Arbutus Inc. entered into an exclusive, worldwide, sub-licensable (subject to certain restrictions with respect to licensed viral infections other than hepatitis) license to six different series of compounds. The licensed compounds are Qbeta-derived virus-like particles that encapsulate TLR9, TLR7 or RIG-I agonists and may or may not be conjugated with antigens from the hepatitis virus or other licensed viruses. The Company has an option to expand this license to include additional viral infections other than influenza and Cytos will retain all rights for influenza, all non-viral infections, and all viral infections (other than hepatitis) for which it has not exercised its option.

In partial consideration for this license, the Company is obligated to pay Cytos up to a total of $67,000,000 for each of the six licensed compound series upon the achievement of specified development and regulatory milestones; for hepatitis and each additional licensed viral infection, up to a total of $110,000,000 upon the achievement of specified sales performance milestones; and tiered royalty payments in the high-single to low-double digits, based upon the proportionate net sales of licensed products in any commercialized combination.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2015

Basis of Accounting, Policy [Policy Text Block]

Basis of presentation

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

Business Combinations Policy [Policy Text Block]

Replacement awards

Goodwill and Intangible Assets, Policy [Policy Text Block]

Basis of presentation

Earnings Per Share, Policy [Policy Text Block]

Income or loss per share

Fair Value Measurement, Policy [Policy Text Block]

Fair value of financial instruments

The Company measures certain financial instruments and other items at fair value.

Level 1 inputs are quoted market prices for identical instruments available in active markets.
Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly. If the asset or liability has a contractual term, the input must be observable for substantially the full term. An example includes quoted market prices for similar assets or liabilities in active markets.

Level 3 inputs are unobservable inputs for the asset or liability and will reflect management’s assumptions about market assumptions that would be used to price the asset or liability.

		Level 1	Level 2		Level 3		September 30, 2015
Assets
Cash and cash equivalents	$	181,089	-		-	$	181,089
Guaranteed investment certificate		15,006	-		-		15,006
Term deposit		10,041	-		-		10,041
Total	$	206,136				$	206,136

Liabilities
Warrants		-	-	$	1,495	$	1,495
Contingent consideration		-	-	$	6,665	$	6,665
Financial instrument		-	-		-		-
Total		-	-	$	8,160	$	8,160

		Level 1	Level 2		Level 3		December 31, 2014
Assets
Cash and cash equivalents	$	72,187	-		-	$	72,187
Guaranteed investment certificates		39,974	-		-		39,974
Total	$	112,161	-		-	$	112,161

Liabilities
Warrants		-	-	$	5,099	$	5,099
Financial instrument		-	-		-		-
Total		-	-	$	5,099	$	5,099

The following table presents the changes in fair value of the Company’s warrants, in thousands:

		Opening liability of	Fair value of	Increase
	Liability at beginning	warrants issued in	warrants exercised	(decrease) in fair	Foreign exchange	Liability at end
	of the period	the period	in the period	value of warrants	(gain) loss	of the period
Nine months ended September 30, 2014	$5,379	-	$ ( 9,260)	$12,943	$(355)	$8,707
Nine months ended September 30, 2015	$5,099	-	$(334)	$ ( 2,777)	$(493)	$1,495

The change in fair value of warrant liability for the nine months ended September 30, 2015 is recorded in the statement of operations and comprehensive loss.

The weighted average Black-Scholes option-pricing assumptions and the resultant fair values, in thousands, for warrants outstanding at September 30, 2015 and at December 31, 2014 are as follows:

	September 30, 2015	December 31, 2014

Dividend yield	0.00%	0.00%
Expected volatility	65.43%	85.22%
Risk-free interest rate	0.52%	1.00%
Expected average term	0.9 years	0.5 years
Fair value of warrants outstanding	$3.94	$12.80
Aggregate fair value of warrants outstanding	$1,495	$5,099
Number of warrants outstanding	379,500	398,250

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign currency translation and reporting currency

Functional currency

Reporting currency

New Accounting Pronouncements, Policy [Policy Text Block]

Recent accounting pronouncements

- Definition

Disclosure of accounting policy for completed business combinations (purchase method, acquisition method or combination of entities under common control). This accounting policy may include a general discussion of the purchase method or acquisition method of accounting (including for example, the treatment accorded contingent consideration, the identification of assets and liabilities, the purchase price allocation process, how the fair values of acquired assets and liabilities are determined) and the entity's specific application thereof. An entity that acquires another entity in a leveraged buyout transaction generally discloses the accounting policy followed by the acquiring entity in determining the basis used to value its interest in the acquired entity, and the rationale for that accounting policy.

+ References+ Details

- Definition

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

+ References+ Details

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References+ Details

Significant Accounting Policies (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2015

Dec. 31, 2014

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

		Level 1	Level 2		Level 3		September 30, 2015
Assets
Cash and cash equivalents	$	181,089	-		-	$	181,089
Guaranteed investment certificate		15,006	-		-		15,006
Term deposit		10,041	-		-		10,041
Total	$	206,136				$	206,136

Liabilities
Warrants		-	-	$	1,495	$	1,495
Contingent consideration		-	-	$	6,665	$	6,665
Financial instrument		-	-		-		-
Total		-	-	$	8,160	$	8,160

		Level 1	Level 2		Level 3		December 31, 2014
Assets
Cash and cash equivalents	$	72,187	-		-	$	72,187
Guaranteed investment certificates		39,974	-		-		39,974
Total	$	112,161	-		-	$	112,161

Liabilities
Warrants		-	-	$	5,099	$	5,099
Financial instrument		-	-		-		-
Total		-	-	$	5,099	$	5,099

Changes In Fair Value Of Warrants [Table Text Block]

		Opening liability of	Fair value of	Increase
	Liability at beginning	warrants issued in	warrants exercised	(decrease) in fair	Foreign exchange	Liability at end
	of the period	the period	in the period	value of warrants	(gain) loss	of the period
Nine months ended September 30, 2014	$5,379	-	$ ( 9,260)	$12,943	$(355)	$8,707
Nine months ended September 30, 2015	$5,099	-	$(334)	$ ( 2,777)	$(493)	$1,495

Black-Scholes Option-pricing Assumptions [Table Text Block]

	September 30, 2015	December 31, 2014

Dividend yield	0.00%	0.00%
Expected volatility	65.43%	85.22%
Risk-free interest rate	0.52%	1.00%
Expected average term	0.9 years	0.5 years
Fair value of warrants outstanding	$3.94	$12.80
Aggregate fair value of warrants outstanding	$1,495	$5,099
Number of warrants outstanding	379,500	398,250

Merger with Arbutus Biopharma Inc. (Formerly OnCore BioPharma, Inc.) (Tables)

0 Months Ended

9 Months Ended

Mar. 03, 2015

Sep. 30, 2015

Business Acquisition Assets and Liabilties Transferred [Table Text Block]

Consideration paid:
Common shares issued without subjects	$	371,553
Common shares issued subject to repurchase provision		9,262
Common shares issuable for Arbutus Inc. stock options		1,127
	$	381,942

Identifiable assets acquired and liabilities assumed:
Cash	$	324
Prepaid expenses and other assets		116
Accounts receivable		8
Property and equipment		147
Acquired intangible assets		391,591
Goodwill		156,637
Accounts payable and accrued liabilities		(3,580	)
Other noncurrent liabilities (note 8)		(6,665	)
Deferred income tax liability		(156,636	)
Total purchase price allocation	$	381,942

Summary of Acquired Identifiable Intangible Assets [Table Text Block]

		$
IPR&D - Cyclophilins		37,990
IPR&D - Immune Modulators		188,498
IPR&D - Antigen Inhibitors		35,374
IPR&D - cccDNA Sterilizers		129,729
Total IPR&D	$	391,591

		$
IPR&D - Cyclophilins		-
IPR&D - Immune Modulators		188,498
IPR&D - Antigen Inhibitors		35,374
IPR&D - cccDNA Sterilizers		129,729
Total IPR&D	$	353,601

Pro Forma Financial Information [Table Text Block]

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2015			2014			2015			2014
Pro forma information
Gross Revenue	$	4,065		$	4,362		$	12,187		$	10,603
Loss from operations		(58,138	)		(11,222	)		(97,629	)		(35,501	)
Net loss		(28,928	)		(12,976	)		(62,922	)		(45,939	)
Basic and diluted loss per share		(0.57	)		(0.28	)		(1.31	)		(1.02	)

Collaborations, contracts and licensing agreements (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]

		Three months ended September 30				Nine months ended September 30
		2015		2014		2015		2014

Collaborations and contracts
DoD (a)	$	2,002	$	1,493	$	6,909	$	5,594
Monsanto (b)		309		283		826		809
BMS (d)		-		1,552		-		1,758
Dicerna (e)		724		250		1,130		250
Total research and development collaborations and contracts		3,035		3,578		8,865		8,411

Licensing fees, milestone and royalty payments
Monsanto licensing fees and milestone payments (b)		727		730		2,374		1,901
Acuitas milestone payments (c)		-		-		-		150
Dicerna licensing fee (e)		263		-		789		-
Spectrum royalty payments (f)		40		54		159		141
Total licensing fees, milestone and royalty payments		1,030		784		3,322		2,192

Total revenue	$	4,065	$	4,362	$	12,187	$	10,603

Deferred Revenue, by Arrangement, Disclosure [Table Text Block]

		September 30, 2015		December 31, 2014
DoD (a)	$	57	$	313
Monsanto current portion (b)		3,773		4,245
Dicerna current portion (e)		1,005		1,221
Deferred revenue, current portion		4,835		5,779
Monsanto long-term portion (b)		6,446		8,666
Dicerna long-term portion (e)		442		1,271
Total deferred revenue	$	11,723	$	15,716

Significant Accounting Policies (Narrative) (Details)	9 Months Ended				9 Months Ended
Significant Accounting Policies (Narrative) (Details)	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CAD	Sep. 30, 2014	Dec. 31, 2014 USD ($)	Sep. 30, 2015 Common Shares Issued Subject to Repurchase Provision [Member]
Fair Value, Financial Instruments	$ 0
Maturity of Investments	2 years	2 years
Long-term Investments	10,041,000			0
Wholly Owned Subsidiaries Included in Financial Statements	4	4
Antidilutive Securities Excluded from Computation of Earnings Per Share, Shares	6,481,295	6,481,295	2,356,025		3,625,411
Business Combination, Contingent Consideration, Liability	6,665,000
Short-term investments	15,006,000	20,027,000		39,974,000
Contingent consideration	$ 6,665,000			$ 0

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Merger with Arbutus Biopharma Inc. (Formerly OnCore BioPharma, Inc.) (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended		9 Months Ended				0 Months Ended	4 Months Ended	9 Months Ended		9 Months Ended	0 Months Ended			3 Months Ended	4 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Mar. 03, 2015	Sep. 30, 2015 Common Stock [Member]	Dec. 31, 2014 Common Stock [Member]	Sep. 30, 2015 Arbutus Inc. [Member] Common Stock [Member]	Mar. 03, 2015 Arbutus Inc. [Member] Common Stock [Member]	Mar. 03, 2015 Arbutus Inc. [Member]	Jun. 30, 2015 Arbutus Inc. [Member]	Sep. 30, 2015 Arbutus Inc. [Member]	Jan. 11, 2015 Arbutus Inc. [Member]	Sep. 30, 2015 Arbutus Inc. [Member] Every 3 Months [Member]	Mar. 03, 2015 Arbutus Inc. [Member] Finite-Lived Intangible Assets [Member]	Mar. 03, 2015 Arbutus Inc. [Member] Common Shares Issued Without Subjects [Member]	Mar. 03, 2015 Arbutus Inc. [Member] Common Shares Issued Subject to Repurchase Provision [Member]	Sep. 30, 2015 Arbutus Inc. [Member] Scenario, Forecast [Member]	Jun. 30, 2015 Arbutus Inc. [Member] Arbutus Stock Options [Member]	Sep. 30, 2015 Arbutus Inc. [Member] Arbutus Stock Options [Member]
Common shares, shares issued	54,569,791		54,569,791		22,438,169								3,625,412
Common shares, shares outstanding	54,569,791		54,569,791		22,438,169
Business Combination Acceleration of Share-based Compensation Expense per Quarter																			$ 1,900,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares																	20,347,906	3,625,412
Business Acquisition, Share Price																	$ 18.26
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned											381,942,000						371,553,000	66,196,000			3,287,000
Fair Value Assumptions, Risk Free Interest Rate			0.52%		1.00%													0.74%			0.97%
Fair Value Assumptions, Expected Volatility Rate			65.43%		85.22%													81.00%			78.00%
Fair Value Assumptions, Expected Dividend Rate			0.00%		0.00%													0.00%
Fair Value Assumptions, Expected Term			0 years 10 months 24 days		0 years 6 months											20 years		4 years			8 years
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned, Attrributed as Pre Combination Service and Included as Part of Total Purchase Price									10,962,000									9,262,000			1,127,000
Business Acquisition Equity Interest Issued or Issuable Value Assigned Attributed as Post Combination Compensation Expense										56,934,000											2,160,000
Common Stock, Capital Shares Reserved for Future Issuance																					184,332
Business Acquisition Compensation Expense Related to Vesting of Shares																				330,000
Fair Value Inputs, Discount Rate																13.90%
Business Acquisition, Percentage of Voting Interests Acquired														100.00%
Acquisition costs	0	0	9,656,000	0									9,656,000
Stock Issued During Period, Shares, Acquisitions							23,973,315				23,973,315
Stock Issued During Period, Value, Acquisitions			381,942,000				380,815,000				381,942,000
Stock Repurchase Rights Expiration Rate Shares													302,120		503,552
Business Combination, Consideration Transferred											381,942,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	353,601,000		353,601,000			391,591,000					391,591,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual												9,067,000
Goodwill	156,637,000		156,637,000		0						156,637,000		156,637,000
Impairment of intangible assets	37,990,000	0	37,990,000	0									37,990,000
Income tax benefit	(15,196,000)	0	(15,196,000)	0									15,196,000
Market Capitalization, Value													332,330,000
Carrying Value of the Company	$ 553,807,000		$ 553,807,000		$ 88,035,000		$ 828,578,000	$ 290,004,000					$ 553,807,000

Collaborations, contracts and licensing agreements (Narrative) (Details) (USD $)

3 Months Ended

6 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

6 Months Ended

9 Months Ended

17 Months Ended

0 Months Ended

6 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Dec. 31, 2014

Sep. 30, 2014

Alnylam License Agreement [Member]

Jun. 21, 2013

Alnylam License Agreement [Member]

Positive Outcome of Litigation [Member]

Sep. 30, 2015

Marqibo [Member]

Sep. 30, 2014

Marqibo [Member]

Sep. 30, 2015

Marqibo [Member]

Sep. 30, 2014

Marqibo [Member]

Mar. 31, 2015

DoD [Member]

Oct. 31, 2014

DoD [Member]

Jul. 14, 2010

DoD [Member]

May 31, 2015

DoD [Member]

Contract Modification to Fund the Company for TKM-Ebola-Guinea IND Submission Expenses [Member]

May 08, 2013

DoD [Member]

Increase to Support Development Plans [Member]

Apr. 22, 2014

DoD [Member]

Increased Funding for Stage One [Member]

Apr. 22, 2014

DoD [Member]

Stage One [Member]

Jan. 13, 2014

Monsanto [Member]

May 31, 2015

Monsanto [Member]

Sep. 30, 2015

Monsanto [Member]

Sep. 30, 2014

Monsanto [Member]

Sep. 30, 2015

Monsanto [Member]

Sep. 30, 2014

Monsanto [Member]

May 31, 2015

Monsanto [Member]

May 10, 2010

BMS [Member]

Nov. 16, 2014

Dicerna [Member]

Sep. 30, 2015

Dicerna [Member]

Sep. 30, 2014

Dicerna [Member]

Sep. 30, 2015

Dicerna [Member]

Sep. 30, 2014

Dicerna [Member]

Aug. 09, 2012

Talon Therapeutics [Member]

Jul. 14, 2010

Maximum [Member]

Contract Extension [Member]

Potential Contract Funding Amount

$ 2,250,000

$ 34,700,000

$ 6,970,000

$ 2,100,000

$ 43,819,000

$ 18,000,000

$ 140,000,000

Potential Contract Funding Amount Increase

1,000,000

Optional Excercised Contractual Option, Amount

7,000,000

Approximate Option Period

4 years

Maximum Potential Transaction Value

86,200,000

Near Term Contract Payments

19,300,000

Licenses Revenue

1,030,000

784,000

1,030,000

784,000

3,322,000

2,192,000

150,000

727,000

^[1]

730,000

^[1]

2,374,000

^[1]

1,901,000

^[1]

263,000

^[2]

789,000

^[2]

Deferred Revenue

11,723,000

15,716,000

3,000,000

2,500,000

Milestone Payment

22,000,000

Royalty Revenue

40,000

54,000

159,000

141,000

Gain Contingency, Unrecorded Amount

5,000,000

Extended Option Period

150 days

Maximum Potential Transaction Value for Extension Period

$ 2,000,000

Collaborative Arrangement,Term

4 years

Accrued Contract Revenue, Percentage

2.50%

Revenue Recognition, Performance Period

28 months

[1]

Option and Services Agreements with Monsanto Company ("Monsanto") On January 13, 2014, the Company and Monsanto signed an Option Agreement and a Services Agreement (together, the "Agreements"). Under the Agreements, Monsanto has an option to obtain a license to use the Company's proprietary delivery technology and related intellectual property for use in agriculture. Over the option period, which is expected to be approximately four years, the Company will provide lipid formulations for Monsanto's research and development activities, and Monsanto will make certain payments to the Company to maintain its option rights. The maximum potential value of the transaction, following the successful completion of milestones, is $86,200,000. In May 2015, the arrangement was amended to extend the option period by approximately five months, with payments up to $2,000,000 for the extension period. From inception of the contract to June 30, 2015, the Company had received $18,550,000 from MonsantoThe amounts received relate to research services and use of the Company's technology over the option period, and are recognized as revenue on a straight-line basis over the extended option period. Under the Agreements, the Company has established a wholly-owned subsidiary, PADCo. The Company has determined that PADCo is a variable interest entity ("VIE"); however, Monsanto is the primary beneficiary of the arrangement. PADCo was established to perform research and development activities, which have been funded by Monsanto in return for a call option to acquire the equity or all of the assets of PADCo. At any time during the option period, Monsanto may choose to exercise its option, in which case Monsanto would pay the Company an option exercise fee and would receive a worldwide, exclusive right to use the Company's proprietary delivery technology in the field of agriculture. Monsanto may elect to terminate this option at their discretion. The Company retains all rights to therapeutics uses of all current intellectual property and intellectual property developed under the Agreements. The Company's initial investment is not significant, and has no implied or unfunded commitments and the maximum exposure to loss is limited to the amount of investment in the entity. The Company has included its investment in PADco in Other Assets. There were no significant assets or liabilities for PADCo as at June 30, 2015. There was no equity income or loss with respect to PADCo recorded for the six months ended June 30, 2015.

[2]

License and Development and Supply Agreement with Dicerna Pharmaceuticals, Inc. ("Dicerna") On November 16, 2014, the Company signed a License Agreement and a Development and Supply Agreement (together, the "Agreements") with Dicerna to develop, manufacture, and commercialize products directed to the treatment of Primary Hyperoxaluria 1 ("PH1"). In consideration for the rights granted under the Agreements, Dicerna paid the Company an upfront cash payment of $2,500,000. The Company is also entitled to receive payments from Dicerna on manufacturing and services provided, as well as further payments with the achievement of development and regulatory milestones of up to $22,000,000, in aggregate, and potential commercial royalties. Further, under the Agreements, a joint development committee has been established to provide guidance and direction on the progression of the collaboration. The Company determined the deliverables under the Agreements included the rights granted, participation in the joint development committee, materials manufactured and other services provided, as directed under the joint development committee. The Company has determined that manufacturing services and other services provided have standalone value, as a separate statement of work is executed and invoiced for each manufacturing or service work order. The relative fair values are determined as a batch price or fee is estimated upon the execution of each work order, with actual expenditures charged at comparable market rates with embedded margins on each work order. Manufacturing work orders are invoiced at the time of execution of the work order, at the initiation of manufacture, and at the release of materials. Revenue from service work orders is recognized as the services are performed. The license and participation in the joint development committee have been determined by the Company to not have standalone value due to the uniqueness of the subject matter under the Agreements. Therefore, these deliverables are treated as one unit of accounting and recognized as revenue over the performance period, which the Company has estimated to be approximately 28 months. The Company believes the development and regulatory milestones are substantive, due to the existence of substantive uncertainty upon the execution of the arrangement, and that the achievement of the development and regulatory events are based, in part, on the Company's performance and the occurrence of a specific outcome resulting from performance. The Company has not received any milestone payments to date.

Financing (Narrative) (Details) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended
Financing (Narrative) (Details) (USD $)	Mar. 25, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Proceeds from Issuance of Common Stock	$ 151,875,000	$ 0	$ 0	$ 142,177,000	$ 56,477,000
Payments of Stock Issuance Costs	9,700,000
Proceeds From Issuance Of Common Stock Net	142,177,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	30 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	1,125,000
Potential Proceeds of Additional Shares Authorized	$ 22,781,000
Stock Issued During Period, Shares, New Issues (in Shares)	7,500,000
Share Price	$ 20.25

Contingencies and commitments (Narrative) (Details)			6 Months Ended		9 Months Ended			0 Months Ended	1 Months Ended		9 Months Ended		12 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended		1 Months Ended
Contingencies and commitments (Narrative) (Details)	Sep. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2015 Marqibo [Member] USD ($)	Sep. 30, 2014 Marqibo [Member] USD ($)	Sep. 30, 2015 Marqibo [Member] USD ($)	Sep. 30, 2014 Marqibo [Member] USD ($)	Sep. 30, 2015 Marqibo [Member] CAD	Jan. 16, 2015 Arbitration with the University of British Columbia [Member] Subsequent Event [Member] USD ($)	Mar. 31, 2004 Arbitration with the University of British Columbia [Member] Subsequent Event [Member] USD ($)	Mar. 31, 2004 Arbitration with the University of British Columbia [Member] Subsequent Event [Member] CAD	Sep. 30, 2015 Arbitration with the University of British Columbia [Member] Subsequent Event [Member] USD ($)	Sep. 30, 2015 Arbitration with the University of British Columbia [Member] Subsequent Event [Member] CAD	Dec. 31, 2013 Marina [Member] USD ($)	Dec. 31, 2012 Marina [Member] USD ($)	Sep. 30, 2015 Marqibo [Member] USD ($)	Sep. 30, 2014 Marqibo [Member] USD ($)	Sep. 30, 2015 Marqibo [Member] USD ($)	Sep. 30, 2014 Marqibo [Member] USD ($)	Dec. 31, 2014 Arcturus USD ($)	Dec. 31, 2014 Arbutus Inc. [Member] Cytos [Member] USD ($)	Sep. 30, 2014 Arbutus Inc. [Member] NeuroVive [Member] USD ($)	Nov. 30, 2014 Arbutus Inc. [Member] Drexel and Blumberg [Member] USD ($)	Feb. 28, 2014 Arbutus Inc. [Member] Drexel and Blumberg [Member] USD ($)	Oct. 31, 2014 Arbutus Inc. [Member] Blumberg [Member] USD ($)	Oct. 31, 2014 Arbutus Inc. [Member] Enantigen [Member] USD ($)	Oct. 31, 2014 Arbutus Inc. [Member] Enantigen [Member] Acheivement of Certain Development Milestones and Sales Performance Milestones [Member] USD ($)
Percent of Costs Funded by TPC									27.00%	27.00%
Maximum Contribution for Product									$ 7,179,000	9,323,000
Cumulative Contribution for Product											2,774,000	3,702,000
Royalty Guarantees Commitments Percentage											2.50%	2.50%
Royalty Revenue			40,000	54,000	159,000	141,000									40,000	54,000	159,000	141,000
Royalty Payable			4,000	4,000	4,000	4,000
Royalties Paid or Accrued					10,000
Contractual Obligation			2,765,000		2,765,000		3,690,000
Upfront Fee														300,000
Milestone Payment													200,000	3,250,000					250,000
Loss Contingency, Damages Sought, Value								3,500,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High																									21,000,000	102,500,000
Business Combination, Contingent Consideration, Liability	6,665,000																								6,665,000
Research Funding Period																								3 years
Contractual Obligation, Amount of Research Funding Per Year																								1,000,000
Research Funding Agreement Right to Obtain Exclusive License Upfront Payment																								100,000
Research Funding Agreement Right to Obtain Exclusive License Maximum Development and Regulatory Milestone Payments																								8,100,000
Research Funding Agreement Right to Obtain Exclusive License Maximum Commercialization Milestone Payments																								92,500,000
License Costs																					1,000,000	50,000	150,000
License Agreement, Maximum Development and Regulatory Milestone Payments Per License																				67,000,000		1,000,000	3,500,000
License Agreement, Maximum Sales Performance Milestone Payments Per License																				110,000,000			92,500,000
Contingent consideration	$ 6,665,000	$ 0

Fair Value, Assets Measured on Recurring Basis (Details) (USD $)	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 181,089,000	$ 72,187,000
Guaranteed investment certificates	15,006,000	39,974,000
Term Deposit	10,041,000	0
Total	206,136,000	112,161,000
Liabilities
Warrants	1,495,000	5,099,000
Contingent consideration	6,665,000
Financial instruments	0	0
Total	8,160,000	5,099,000
Fair Value, Inputs, Level 1 [Member]
Assets
Cash and cash equivalents	181,089,000	72,187,000
Guaranteed investment certificates	15,006,000	39,974,000
Term Deposit	10,041,000
Total	206,136,000	112,161,000
Liabilities
Warrants	0	0
Contingent consideration	0
Financial instruments	0	0
Total	0	0
Fair Value, Inputs, Level 2 [Member]
Assets
Cash and cash equivalents	0	0
Guaranteed investment certificates	0	0
Term Deposit	0
Total		0
Liabilities
Warrants	0	0
Contingent consideration	0
Financial instruments	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Assets
Cash and cash equivalents	0	0
Guaranteed investment certificates	0	0
Term Deposit	0
Total		0
Liabilities
Warrants	1,495,000	5,099,000
Contingent consideration	6,665,000
Financial instruments	0	0
Total	$ 8,160,000	$ 5,099,000

Changes In Fair Value Of Warrants (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Liability at beginning of the period	$ 5,099	$ 5,379
Opening liability of warrants issued in the period	0	0
Fair value of warrants exercised in the period	(334)	(9,260)
Increase (decrease) in value of warrants	(2,777)	12,943
Foreign exchange loss	(493)	(355)
Liability at end of the period	$ 1,495	$ 8,707

Black-Scholes Option-pricing Assumptions (Details) (USD $) In Thousands, except Share data, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Dividend yield	0.00%	0.00%
Expected volatility	65.43%	85.22%
Fair Value Assumptions, Risk Free Interest Rate	0.52%	1.00%
Expected average term (years)	0 years 10 months 24 days	0 years 6 months
Fair value of warrants outstanding (in Dollars per share)	$ 3.94	$ 12.80
Aggregate fair value of warrants outstanding (in Dollars)	$ 1,495	$ 5,099
Number of warrants outstanding (in Shares)	379,500	398,250

Business Acquisition Assets and Liabilties Transferred (Details) (Arbutus Inc. [Member], USD $)	0 Months Ended
	Mar. 03, 2015	Mar. 03, 2015 Shares Issuable for Arbutus Stock [Member]
Consideration paid:
Common Shares Issued	$ 381,942,000
Common shares issued subject to repurchase provision		1,127,000
Identifiable assets acquired and liabilities assumed:
Cash	324,000
Prepaid expenses and other assets	116,000
Accounts receivable	8,000
Property and equipment	147,000
Acquired intangible assets	391,591,000
Goodwill	156,637,000
Accounts payable and accrued liabilities	(3,580,000)
Other noncurrent liabilities	(6,665,000)
Deferred income tax liability	(156,636,000)
Total purchase price allocation	$ 381,942,000

Pro Forma Financial Information (Details) (Arbutus Inc. [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	6 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Arbutus Inc. [Member]
Pro forma information
Gross Revenue	$ 4,065	$ 4,362	$ 12,187	$ 10,603
Loss from operations	(58,138)	(11,222)	(97,629)	(35,501)
Net loss	$ (28,928)	$ (12,976)	$ (62,922)	$ (45,939)
Basic and diluted loss per share (in dollars per share)	$ (0.57)	$ (0.28)	$ (1.31)	$ (1.02)

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions (Details) (USD $)

6 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Contract Revenue

$ 3,035,000

$ 3,578,000

$ 8,865,000

$ 8,411,000

License Revenue

1,030,000

784,000

3,322,000

2,192,000

Total revenue

4,065,000

4,362,000

12,187,000

10,603,000

Acuitas [Member]

License Revenue

^[1]

150,000

^[1]

DoD [Member]

Contract Revenue

2,002,000

^[2]

1,493,000

^[2]

6,909,000

^[2]

5,594,000

^[2]

Monsanto [Member]

Contract Revenue

309,000

^[3]

283,000

^[3]

826,000

^[3]

809,000

^[3]

License Revenue

727,000

^[3]

730,000

^[3]

2,374,000

^[3]

1,901,000

^[3]

BMS [Member]

Contract Revenue

^[4]

1,552,000

^[4]

1,758,000

^[4]

Dicerna [Member]

Contract Revenue

724,000

^[5]

250,000

^[5]

1,130,000

^[5]

250,000

^[5]

License Revenue

263,000

^[5]

789,000

^[5]

Spectrum [Member]

License Revenue

$ 40,000

^[6]

$ 54,000

^[6]

$ 159,000

^[6]

$ 141,000

^[6]

[1]	License and collaboration with Alnylam Pharmaceuticals, Inc. ("Alnylam") and Acuitas Therapeutics Inc. ("Acuitas", formerly AlCana Technologies Inc.) Milestone receipts and payments In the six months ended June 30, 2014, the Company earned a $150,000 milestone from Acuitas, subsequent to Acuitas receiving a milestone payment from Alnylam with respect to Alnylam initiating a Phase III trial for ALN-TTR02. Arbitration with Alnylam and Ascletis Pharmaceuticals (Hangzhou) Co. Ltd. ("Ascletis") On June 21, 2013, the Company transferred manufacturing process technology to Ascletis to enable them to produce ALN-VSP, a product candidate licensed to them by Alnylam. The Company believes that under the new licensing agreement with Alnylam, the technology transfer to Ascletis triggers a $5,000,000 milestone obligation from Alnylam to the Company. However, Alnylam has demanded a declaration that the Company has not yet met its milestone obligations. The Company disputes Alnylam's position. To remedy this dispute, the Company and Alnylam have commenced arbitration proceedings as provided for under the agreement. The hearing date for this arbitration took place in May 2015, and a decision of the arbitrator is pending. The Company has not recorded any revenue in respect of this milestone.
[2]	Contract with United States Government's Department of Defense ("DoD") to develop TKM-Ebola On July 14, 2010, the Company signed a contract with the DoD to advance TKM-Ebola, an RNAi therapeutic utilizing the Company's lipid nanoparticle technology to treat Ebola virus infection. In the initial phase of the contract, funded as part of the Transformational Medical Technologies program, the Company was eligible to receive up to $34,700,000. This initial funding is for the development of TKM-Ebola including completion of preclinical development, filing an Investigational New Drug application with the United States Food and Drug Administration ("FDA") and completing a Phase 1 human safety clinical trial. On May 8, 2013, the Company announced that the contract had been modified to support development plans that integrate recent advancements in lipid nanoparticle ("LNP") formulation and manufacturing technologies. The contract modification increased the stage one targeted funding by an additional $6,970,000. On April 22, 2014, the Company and the DoD signed a contract modification to further increase the stage one targeted funding by $2,100,000 to $43,819,000. The additional funding is to compensate the Company for unrecovered overheads related to the temporary stop-work period that occurred in 2012 and to provide additional overhead funding should it be required. In May 2015, the Company and the DoD signed a contract modification to further increase stage one funding by up to $1,000,000. The DoD has the option of extending the contract beyond the initial funding period to support the advancement of TKM-Ebola through to the completion of clinical development and FDA approval. Based on the contract's budget this would provide the Company with up to $140,000,000 in funding for the entire program. In October 2014, the Company and the DoD exercised an option to add $7,000,000 for the manufacture of TKMEbola-Guinea (the "Ebola-Guinea Amendment"), developed by the Company, targeting the Ebola-Guinea strain responsible for the current outbreak in West Africa. In March 2015, the Company and the DoD signed a contract modification to provide up to $2,250,000 to fund the Company for TKM-Ebola-Guinea IND submission expenses. Under the contract, the Company is reimbursed for costs incurred, including an allocation of overhead costs, and is paid an incentive fee. At the beginning of the fiscal year the Company estimates its labour and overhead rates for the year ahead. At the end of the year the actual labour and overhead rates are calculated and revenue is adjusted accordingly. The Company's actual labour and overhead rates will differ from its estimated rates based on actual costs incurred and the proportion of the Company's efforts on contracts and internal products versus indirect activities. Within minimum and maximum collars, the amount of incentive fee the Company can earn under the contract varies based on costs incurred versus budgeted costs. During the contractual period, incentive fee revenue and total costs are impacted by management's estimate and judgments which are continuously reviewed and adjusted as necessary using the cumulative catch-up method. At June 30, 2015, the Company believes it can reliably estimate the final contract costs so has recognized the portion of expected incentive fee which has been earned to date. On July 20, 2015, the Company announced given the unclear development path for TKM-Ebola, development activities will be suspended and a joint re-evaluation of the development contract with the DoD is underway.
[3]	Option and Services Agreements with Monsanto Company ("Monsanto") On January 13, 2014, the Company and Monsanto signed an Option Agreement and a Services Agreement (together, the "Agreements"). Under the Agreements, Monsanto has an option to obtain a license to use the Company's proprietary delivery technology and related intellectual property for use in agriculture. Over the option period, which is expected to be approximately four years, the Company will provide lipid formulations for Monsanto's research and development activities, and Monsanto will make certain payments to the Company to maintain its option rights. The maximum potential value of the transaction, following the successful completion of milestones, is $86,200,000. In May 2015, the arrangement was amended to extend the option period by approximately five months, with payments up to $2,000,000 for the extension period. From inception of the contract to June 30, 2015, the Company had received $18,550,000 from MonsantoThe amounts received relate to research services and use of the Company's technology over the option period, and are recognized as revenue on a straight-line basis over the extended option period. Under the Agreements, the Company has established a wholly-owned subsidiary, PADCo. The Company has determined that PADCo is a variable interest entity ("VIE"); however, Monsanto is the primary beneficiary of the arrangement. PADCo was established to perform research and development activities, which have been funded by Monsanto in return for a call option to acquire the equity or all of the assets of PADCo. At any time during the option period, Monsanto may choose to exercise its option, in which case Monsanto would pay the Company an option exercise fee and would receive a worldwide, exclusive right to use the Company's proprietary delivery technology in the field of agriculture. Monsanto may elect to terminate this option at their discretion. The Company retains all rights to therapeutics uses of all current intellectual property and intellectual property developed under the Agreements. The Company's initial investment is not significant, and has no implied or unfunded commitments and the maximum exposure to loss is limited to the amount of investment in the entity. The Company has included its investment in PADco in Other Assets. There were no significant assets or liabilities for PADCo as at June 30, 2015. There was no equity income or loss with respect to PADCo recorded for the six months ended June 30, 2015.
[4]	Bristol-Myers Squibb ("BMS") collaboration On May 10, 2010 the Company announced the expansion of its research collaboration with BMS. Under the new agreement, BMS uses small interfering RNA ("siRNA") molecules formulated by the Company in LNP technology to silence target genes of interest. BMS is conducting the preclinical work to validate the function of certain genes and share the data with the Company. The Company could use the preclinical data to develop RNAi therapeutic drugs against the therapeutic targets of interest. The Company received $3,000,000 from BMS concurrent with the signing of the agreement and recorded the amount as deferred revenue. The Company was required to provide a pre-determined number of LNP batches over the four-year agreement. BMS had a first right to negotiate a licensing agreement on certain RNAi products developed by the Company that evolve from BMS validated gene targets. Revenue from the May 10, 2010 agreement with BMS was being recognized as the Company produces the related LNP batches. The revenue earned for the six months ended June 30, 2014 was related to BMS batches shipped during the period. In August 2014, the agreement expired and both companies' obligations under the agreement ended.
[5]	License and Development and Supply Agreement with Dicerna Pharmaceuticals, Inc. ("Dicerna") On November 16, 2014, the Company signed a License Agreement and a Development and Supply Agreement (together, the "Agreements") with Dicerna to develop, manufacture, and commercialize products directed to the treatment of Primary Hyperoxaluria 1 ("PH1"). In consideration for the rights granted under the Agreements, Dicerna paid the Company an upfront cash payment of $2,500,000. The Company is also entitled to receive payments from Dicerna on manufacturing and services provided, as well as further payments with the achievement of development and regulatory milestones of up to $22,000,000, in aggregate, and potential commercial royalties. Further, under the Agreements, a joint development committee has been established to provide guidance and direction on the progression of the collaboration. The Company determined the deliverables under the Agreements included the rights granted, participation in the joint development committee, materials manufactured and other services provided, as directed under the joint development committee. The Company has determined that manufacturing services and other services provided have standalone value, as a separate statement of work is executed and invoiced for each manufacturing or service work order. The relative fair values are determined as a batch price or fee is estimated upon the execution of each work order, with actual expenditures charged at comparable market rates with embedded margins on each work order. Manufacturing work orders are invoiced at the time of execution of the work order, at the initiation of manufacture, and at the release of materials. Revenue from service work orders is recognized as the services are performed. The license and participation in the joint development committee have been determined by the Company to not have standalone value due to the uniqueness of the subject matter under the Agreements. Therefore, these deliverables are treated as one unit of accounting and recognized as revenue over the performance period, which the Company has estimated to be approximately 28 months. The Company believes the development and regulatory milestones are substantive, due to the existence of substantive uncertainty upon the execution of the arrangement, and that the achievement of the development and regulatory events are based, in part, on the Company's performance and the occurrence of a specific outcome resulting from performance. The Company has not received any milestone payments to date.
[6]	Agreements with Spectrum Pharmaceuticals, Inc. ("Spectrum") On May 6, 2006, the Company signed a number of agreements with Talon Therapeutics, Inc. ("Talon", formerly Hana Biosciences, Inc.) including the grant of worldwide licenses (the "Talon License Agreement") for three of the Company's chemotherapy products, Marqibo, AlocrestTM (Optisomal Vinorelbine) and BrakivaTM (Optisomal Topotecan). On August 9, 2012, the Company announced that Talon had received accelerated approval for Marqibo from the FDA for the treatment of adult patients with Philadelphia chromosome negative acute lymphoblastic leukemia in second or greater relapse or whose disease has progressed following two or more anti-leukemia therapies. Marqibo is a liposomal formulation of the chemotherapy drug vincristine. There are no further milestones related to Marqibo but the Company is eligible to receive total milestone payments of up to $18,000,000 on Alocrest and Brakiva. Talon was acquired by Spectrum in July 2013. The acquisition does not affect the terms of the license between Talon and the Company. On September 3, 2013, Spectrum announced that they had shipped the first commercial orders of Marqibo. For the three and six months ended June 30, 2015, the Company recorded $62,000 and $119,000 in Marqibo royalty revenue (three and six months ended June 30, 2014 - $41,000 and $87,000 respectively). For the six months ended June 30, 2015, the Company accrued 2.5% in royalties due to TPC in respect of the Marqibo royalty earned by the Company - see note 8, contingencies and commitments.

Deferred Revenue, by Arrangement, Disclosure (Details) (USD $)

Sep. 30, 2015

Dec. 31, 2014

Deferred Revenue Current Portion

$ 4,835,000

$ 5,779,000

Deferred Revenue Noncurrent Portion

6,888,000

9,937,000

Total deferred revenue

11,723,000

15,716,000

DoD [Member]

Deferred Revenue Current Portion

57,000

^[1]

313,000

^[1]

Monsanto [Member]

Deferred Revenue Current Portion

3,773,000

^[2]

4,245,000

^[2]

Deferred Revenue Noncurrent Portion

6,446,000

^[2]

8,666,000

^[2]

Dicerna [Member]

Deferred Revenue Current Portion

1,005,000

^[3]

1,221,000

^[3]

Deferred Revenue Noncurrent Portion

$ 442,000

^[3]

$ 1,271,000

^[3]

[1]	Contract with United States Government's Department of Defense ("DoD") to develop TKM-Ebola On July 14, 2010, the Company signed a contract with the DoD to advance TKM-Ebola, an RNAi therapeutic utilizing the Company's lipid nanoparticle technology to treat Ebola virus infection. In the initial phase of the contract, funded as part of the Transformational Medical Technologies program, the Company was eligible to receive up to $34,700,000. This initial funding is for the development of TKM-Ebola including completion of preclinical development, filing an Investigational New Drug application with the United States Food and Drug Administration ("FDA") and completing a Phase 1 human safety clinical trial. On May 8, 2013, the Company announced that the contract had been modified to support development plans that integrate recent advancements in lipid nanoparticle ("LNP") formulation and manufacturing technologies. The contract modification increased the stage one targeted funding by an additional $6,970,000. On April 22, 2014, the Company and the DoD signed a contract modification to further increase the stage one targeted funding by $2,100,000 to $43,819,000. The additional funding is to compensate the Company for unrecovered overheads related to the temporary stop-work period that occurred in 2012 and to provide additional overhead funding should it be required. In May 2015, the Company and the DoD signed a contract modification to further increase stage one funding by up to $1,000,000. The DoD has the option of extending the contract beyond the initial funding period to support the advancement of TKM-Ebola through to the completion of clinical development and FDA approval. Based on the contract's budget this would provide the Company with up to $140,000,000 in funding for the entire program. In October 2014, the Company and the DoD exercised an option to add $7,000,000 for the manufacture of TKMEbola-Guinea (the "Ebola-Guinea Amendment"), developed by the Company, targeting the Ebola-Guinea strain responsible for the current outbreak in West Africa. In March 2015, the Company and the DoD signed a contract modification to provide up to $2,250,000 to fund the Company for TKM-Ebola-Guinea IND submission expenses. Under the contract, the Company is reimbursed for costs incurred, including an allocation of overhead costs, and is paid an incentive fee. At the beginning of the fiscal year the Company estimates its labour and overhead rates for the year ahead. At the end of the year the actual labour and overhead rates are calculated and revenue is adjusted accordingly. The Company's actual labour and overhead rates will differ from its estimated rates based on actual costs incurred and the proportion of the Company's efforts on contracts and internal products versus indirect activities. Within minimum and maximum collars, the amount of incentive fee the Company can earn under the contract varies based on costs incurred versus budgeted costs. During the contractual period, incentive fee revenue and total costs are impacted by management's estimate and judgments which are continuously reviewed and adjusted as necessary using the cumulative catch-up method. At June 30, 2015, the Company believes it can reliably estimate the final contract costs so has recognized the portion of expected incentive fee which has been earned to date. On July 20, 2015, the Company announced given the unclear development path for TKM-Ebola, development activities will be suspended and a joint re-evaluation of the development contract with the DoD is underway.
[2]	Option and Services Agreements with Monsanto Company ("Monsanto") On January 13, 2014, the Company and Monsanto signed an Option Agreement and a Services Agreement (together, the "Agreements"). Under the Agreements, Monsanto has an option to obtain a license to use the Company's proprietary delivery technology and related intellectual property for use in agriculture. Over the option period, which is expected to be approximately four years, the Company will provide lipid formulations for Monsanto's research and development activities, and Monsanto will make certain payments to the Company to maintain its option rights. The maximum potential value of the transaction, following the successful completion of milestones, is $86,200,000. In May 2015, the arrangement was amended to extend the option period by approximately five months, with payments up to $2,000,000 for the extension period. From inception of the contract to June 30, 2015, the Company had received $18,550,000 from MonsantoThe amounts received relate to research services and use of the Company's technology over the option period, and are recognized as revenue on a straight-line basis over the extended option period. Under the Agreements, the Company has established a wholly-owned subsidiary, PADCo. The Company has determined that PADCo is a variable interest entity ("VIE"); however, Monsanto is the primary beneficiary of the arrangement. PADCo was established to perform research and development activities, which have been funded by Monsanto in return for a call option to acquire the equity or all of the assets of PADCo. At any time during the option period, Monsanto may choose to exercise its option, in which case Monsanto would pay the Company an option exercise fee and would receive a worldwide, exclusive right to use the Company's proprietary delivery technology in the field of agriculture. Monsanto may elect to terminate this option at their discretion. The Company retains all rights to therapeutics uses of all current intellectual property and intellectual property developed under the Agreements. The Company's initial investment is not significant, and has no implied or unfunded commitments and the maximum exposure to loss is limited to the amount of investment in the entity. The Company has included its investment in PADco in Other Assets. There were no significant assets or liabilities for PADCo as at June 30, 2015. There was no equity income or loss with respect to PADCo recorded for the six months ended June 30, 2015.
[3]	License and Development and Supply Agreement with Dicerna Pharmaceuticals, Inc. ("Dicerna") On November 16, 2014, the Company signed a License Agreement and a Development and Supply Agreement (together, the "Agreements") with Dicerna to develop, manufacture, and commercialize products directed to the treatment of Primary Hyperoxaluria 1 ("PH1"). In consideration for the rights granted under the Agreements, Dicerna paid the Company an upfront cash payment of $2,500,000. The Company is also entitled to receive payments from Dicerna on manufacturing and services provided, as well as further payments with the achievement of development and regulatory milestones of up to $22,000,000, in aggregate, and potential commercial royalties. Further, under the Agreements, a joint development committee has been established to provide guidance and direction on the progression of the collaboration. The Company determined the deliverables under the Agreements included the rights granted, participation in the joint development committee, materials manufactured and other services provided, as directed under the joint development committee. The Company has determined that manufacturing services and other services provided have standalone value, as a separate statement of work is executed and invoiced for each manufacturing or service work order. The relative fair values are determined as a batch price or fee is estimated upon the execution of each work order, with actual expenditures charged at comparable market rates with embedded margins on each work order. Manufacturing work orders are invoiced at the time of execution of the work order, at the initiation of manufacture, and at the release of materials. Revenue from service work orders is recognized as the services are performed. The license and participation in the joint development committee have been determined by the Company to not have standalone value due to the uniqueness of the subject matter under the Agreements. Therefore, these deliverables are treated as one unit of accounting and recognized as revenue over the performance period, which the Company has estimated to be approximately 28 months. The Company believes the development and regulatory milestones are substantive, due to the existence of substantive uncertainty upon the execution of the arrangement, and that the achievement of the development and regulatory events are based, in part, on the Company's performance and the occurrence of a specific outcome resulting from performance. The Company has not received any milestone payments to date.

Schedule of Accounts Payable and Accrued Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Trade accounts payable	$ 2,898	$ 2,044
Research and development accruals	2,964	2,391
License fee accruals	0	250
Professional fee accruals	336	1,294
Deferred lease inducements	325	250
Payroll accruals	26	2,873
Other Accrued Liabilities	952	226
Accounts Payable and Accrued Liabilities	$ 7,501	$ 9,328

- Definition

This item represents an incentive or inducement contractually stipulated between parties to a lease whereby the lessor has committed to provide the entity (lessee) with a cash payment as inducement to enter the lease. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Condensed Consolidated Statement of Stockholders' Equity (Parentheticals) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2015
Issuance of common shares in conjunction with the private offering, net of issuance costs	$ 9,700

Summary of Acquired Identifiable Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2015	Mar. 03, 2015
Acquired intangible assets	$ 353,601	$ 391,591
Cyclophilins [Member]
Acquired intangible assets	0	37,990
Immune Modulator [Member]
Acquired intangible assets	188,498	188,498
Antigen Inhibitors [Member]
Acquired intangible assets	35,374	35,374
cccDNA [Member]
Acquired intangible assets	$ 129,729	$ 129,729