Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2016	Oct. 31, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
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		54,841,494
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 26,630	$ 166,779
Short-term investments	123,052	14,525
Accounts receivable	395	1,008
Accrued revenue	128	128
Investment tax credits receivable	148	246
Prepaid expenses and other assets	1,459	1,196
Total current assets	151,812	183,882
Long-term investments	0	10,070
Property and equipment	14,555	12,912
Less accumulated depreciation	(10,469)	(9,729)
Property and equipment, net of accumulated depreciation	4,086	3,183
Intangible assets	196,318	352,642
Goodwill	162,514	162,514
Total assets	514,730	712,291
Current liabilities:
Accounts payable and accrued liabilities	7,132	8,827
Deferred revenue	15	868
Liability-classified options	948	0
Warrants	297	883
Total current liabilities	8,392	10,578
Deferred revenue, net of current portion	0	213
Contingent consideration	8,253	7,497
Deferred tax liability	81,460	146,324
Total liabilities	98,105	164,612
Stockholders’ equity:
Common shares, issued and outstanding: 54,841,494 (December 31, 2015 - 54,570,691)	864,375	834,240
Additional paid-in capital	34,486	30,206
Deficit	(432,454)	(266,985)
Accumulated other comprehensive loss	(49,782)	(49,782)
Total stockholders' equity	416,625	547,679
Total liabilities and stockholders' equity	$ 514,730	$ 712,291

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common shares, no par value (in USD per share)	$ 0	$ 0
Common shares, shares issued (in shares)	54,841,494	54,570,691
Common shares, shares outstanding (in shares)	54,841,494	54,570,691

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Collaborations and contracts	$ 87	$ 3,035	$ 226	$ 8,865
Licensing fees, milestone and royalty payments	687	1,030	1,460	3,322
Total revenue	774	4,065	1,686	12,187
Expenses
Research, development, collaborations and contracts	15,738	16,354	44,097	36,601
General and administrative	3,720	7,706	34,705	18,084
Depreciation of property and equipment	291	153	760	420
Acquisition costs	0	0	0	9,656
Impairment of intangible assets (note 3)	0	37,990	156,324	37,990
Total expenses	19,749	62,203	235,886	102,751
Loss from operations	(18,975)	(58,138)	(234,200)	(90,564)
Other income (losses)
Interest income	425	183	1,104	466
Foreign exchange gains (losses)	(795)	11,801	2,180	16,268
Gain on disposition of financial instrument	0	0	1,000	0
Decrease in fair value of warrant liability	10	1,976	339	2,777
Increase in fair value of contingent consideration	(260)	0	(756)	0
Total other income (losses)	(620)	13,960	3,867	19,511
Loss before income taxes	(19,595)	(44,178)	(230,333)	(71,053)
Income tax benefit	0	15,196	64,864	15,196
Net loss	$ (19,595)	$ (28,982)	$ (165,469)	$ (55,857)
Loss per common share
Loss per common share basic and diluted (in USD per share)	$ (0.37)	$ (0.57)	$ (3.15)	$ (1.28)
Weighted average number of common shares
Weighted average number of common shares basic and diluted (in shares)	53,652,007	50,756,484	52,588,505	43,580,555
Comprehensive loss
Cumulative translation adjustment	$ 0	$ (10,101)	$ 0	$ (19,275)
Comprehensive loss	$ (19,595)	$ (39,083)	$ (165,469)	$ (75,132)

Condensed Consolidated Statement of Stockholders' Equity - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Deficit	Accumulated other comprehensive loss
Beginning balance (in shares) at Dec. 31, 2015		54,570,691
Beginning balance at Dec. 31, 2015	$ 547,679	$ 834,240	$ 30,206	$ (266,985)	$ (49,782)
Stock-based compensation	33,538	$ 28,968	4,570
Reclassification of equity to liability stock option awards	(3,243)		(3,243)
Certain fair value adjustments to liability stock option awards	$ 3,170		3,170
Issuance of common shares pursuant to exercise of options (in shares)	30,000	100,303
Issuance of common shares pursuant to exercise of options	$ 258	$ 475	(217)
Issuance of common shares pursuant to exercise of warrants (in shares)		170,500
Issuance of common shares pursuant to exercise of warrants	692	$ 692
Net loss	(165,469)			(165,469)
Ending balance (in shares) at Sep. 30, 2016		54,841,494
Ending balance at Sep. 30, 2016	$ 416,625	$ 864,375	$ 34,486	$ (432,454)	$ (49,782)

Condensed Consolidated Statements of Cash Flow - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES
Net loss for the period	$ (19,595)	$ (28,982)	$ (165,469)	$ (55,857)
Items not involving cash:
Deferred income taxes	0	(15,196)	(64,864)	(15,196)
Depreciation of property and equipment	291	153	760	420
Unrealized foreign exchange (gains) losses	826	(11,790)	(2,130)	(16,208)
Change in fair value of warrant liability	(10)	(1,976)	(339)	(2,777)
Change in fair value of contingent consideration	260	0	756	0
Impairment of intangible assets (note 3)	0	37,990	156,324	37,990
Net change in non-cash operating items:
Accounts receivable	61	4,047	613	(577)
Accrued revenue	0	(164)	0	14
Investment tax credits receivable	0	0	98	0
Prepaid expenses and other assets	584	469	(263)	171
Accounts payable and accrued liabilities	(887)	2,408	(1,961)	(2,935)
Deferred revenue	(696)	3,011	(1,066)	2,054
Net cash used in operating activities	(14,712)	(2,527)	(43,063)	(38,168)
INVESTING ACTIVITIES
Disposition (acquisition) of short and long-term investments, net	(712)	(17,144)	(98,457)	10,275
Cash acquired through acquisition	0	0	0	324
Acquisition of property and equipment	(168)	(589)	(1,397)	(1,113)
Net cash provided by (used) in investing activities	(880)	(17,733)	(99,854)	9,486
FINANCING ACTIVITIES
Proceeds from issuance of common shares, net of issuance costs	0	0	0	142,177
Issuance of common shares pursuant to exercise of options	76	116	192	1,675
Issuance of common shares pursuant to exercise of warrants	0	0	445	43
Net cash provided by financing activities	76	116	637	143,895
Effect of foreign exchange rate changes on cash and cash equivalents	(824)	(5,972)	2,131	(6,311)
(Decrease) Increase in cash and cash equivalents	(16,340)	(26,116)	(140,149)	108,902
Cash and cash equivalents, beginning of period	42,970	207,205	166,779	72,187
Cash and cash equivalents, end of period	26,630	181,089	26,630	181,089
Non-cash transactions:
Investment tax credit received	0	0	0	24
Acquisition of Arbutus Inc. excluding cash acquired	0	0	0	381,618
Acquired property and equipment in trade payables	(266)	0	(266)	0
Research, development, collaborations and contracts expenses
Items not involving cash:
Stock-based compensation	2,759	2,671	8,225	5,376
General and administrative expenses
Items not involving cash:
Stock-based compensation	$ 1,695	$ 4,832	$ 26,253	$ 9,357

Nature of Business and Future Operations	9 Months Ended
Nature of Business and Future Operations	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of business and future operations	Nature of business and future operations Arbutus Biopharma Corporation (the “Company” or “Arbutus”) is a biopharmaceutical business dedicated to discovering, developing, and commercializing a cure for patients suffering from chronic hepatitis B infection, a disease of the liver caused by the hepatitis B virus (“HBV”). 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, 2016

Accounting Policies [Abstract]

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, 2015 and included in the Company’s 2015 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, 2016 and for all periods presented. The results of operations for the three and nine months ended September 30, 2016 and September 30, 2015 are not necessarily indicative of the results for the full year. These unaudited 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, 2015, except as described below.

Principles of Consolidation

These unaudited condensed consolidated financial statements include the accounts of the Company and two of its wholly-owned subsidiaries, Arbutus Biopharma Inc. ("Arbutus Inc.") and Protiva Biotherapeutics Inc. ("Protiva"). All intercompany transactions and balances have been eliminated on consolidation.

In addition to Arbutus Inc. and Protiva, the Company's former wholly-owned subsidiary, Protiva Agricultural Development Company Inc. ("PADCo"), was previously recorded by the Company using the equity method. On March 4, 2016, Monsanto exercised its option to acquire 100% of the outstanding shares of PADCo, as described in note 4.

Foreign currency translation and functional currency conversion

Prior to January 1, 2016, the Company's functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency while the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders' equity under accumulated other comprehensive loss.

The Company re-assessed its functional currency and determined as at January 1, 2016, its functional currency changed from the Canadian dollar to the U.S. dollar based on management's analysis of changes in the primary economic environment in which the Company operates. The change in functional currency is accounted for prospectively from January 1, 2016 and financial statements prior to and including the period ended December 31, 2015 have not been restated for the change in functional currency.

For periods prior to January 1, 2016, the effects of exchange rate fluctuations on translating foreign currency monetary assets and liabilities into Canadian dollars were included in the statement of operations and comprehensive loss as foreign exchange gain/loss. Revenue and expense transactions were translated into the U.S. dollar reporting currency at the balance sheet date at average exchange rates during the period, and assets and liabilities were translated at end of period exchange rates, except for equity transactions, which were translated at historical exchange rates. Translation gains and losses from the application of the U.S. dollar as the reporting currency while the Canadian dollar was the functional currency are included as part of the cumulative foreign currency translation adjustment, which is reported as a component of shareholders’ equity in accumulated other comprehensive loss.

For periods commencing January 1, 2016, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after January 1, 2016 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transaction. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains.

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, liability-classified stock option awards, and warrants is anti-dilutive. During the nine months ended September 30, 2016, potential common shares of 4,978,101 (September 30, 2015 – 6,481,295) were excluded from the calculation of loss per common share because their inclusion would be anti-dilutive, of which 1,007,058 (September 30, 2015 - 3,625,411) relates to shares issued subject to repurchase provisions as part of consideration paid for the acquisition of Arbutus Inc.

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 table presents 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, 2016
Assets
Cash and cash equivalents	$	26,630	—	—		$	26,630
Short-term investments	123,052		—	—		123,052
Total	$	149,682	—	—		$	149,682
Liabilities
Liability-classified options	—		—	$	948	$	948
Warrants	—		—	297		297
Contingent consideration	—		—	8,253		8,253
Total	—		—	$	9,498	$	9,498



	Level 1		Level 2	Level 3		December 31, 2015
Assets
Cash and cash equivalents	$	166,779	—	—		$	166,779
Short-term investments	14,525		—	—		14,525
Term deposit	10,070		—	—		10,070
Total	$	191,374	—	—		$	191,374
Liabilities
Warrants	—		—	$	883	$	883
Contingent consideration	—		—	7,497		7,497
Total	—		—	$	8,380	$	8,380

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



	Liability at beginning of the period		Fair value of warrants exercised in the period			Increase (decrease) in fair value of warrants			Foreign exchange (gain) loss			Liability at end of the period
Nine months ended September 30, 2015	$	5,099	$	(334	)	$	(2,777	)	$	(493	)	$	1,495
Nine months ended September 30, 2016	$	883	$	(247	)	$	(339	)	$	—		$	297

The change in fair value of warrant liability for the nine months ended September 30, 2016 is recorded in the statement of operations and comprehensive loss.

The weighted average Black-Scholes option-pricing assumptions and the resultant fair values, for warrants outstanding at September 30, 2016 and at December 31, 2015 are as follows:



	September 30, 2016			December 31, 2015
Dividend yield	—		%	—		%
Expected volatility	49.69		%	49.07		%
Risk-free interest rate	0.51		%	0.48		%
Expected average term	0.4 years			0.6 years
Fair value of warrants outstanding	$	1.48		$	2.33
Aggregate fair value of warrants outstanding	$	297		$	883
Number of warrants outstanding	201,000			379,500

Contingent consideration is a liability assumed by the Company from its acquisition of Arbutus Inc. in March 2015. To determine the fair value of the contingent consideration, the Company uses 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 are 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 detailed in note 8. The Company revalues the contingent consideration at the end of each reporting period and records any change in value to the statement of operations and comprehensive loss.



	Liability at beginning of the period¹		Increase in fair value of Contingent Consideration		Liability at end of the period
Nine months ended September 30, 2015	$	4,736	$	1,929	$	6,665
Nine months ended September 30, 2016	$	7,497	$	756	$	8,253


1.	Contingent consideration was assumed by the Company as part of its acquisition of Arbutus Inc. As such, the beginning balance for the nine-months ended September 30, 2015 was the fair value as at the acquisition date of March 4, 2015. The beginning balance for the nine-months ended September 30, 2016 was the fair value as at December 31, 2015.

Liability-classified stock option awards

The Company accounts for liability-classified stock option awards ("liability options") under ASC 718 - Compensation - Stock Compensation ("ASC 718"), under which awards of options that provide for an exercise price that is not denominated in: (a) the currency of a market in which a substantial portion of the Company's equity securities trades, (b) the currency in which the employee's pay is denominated, or (c) the Company's functional currency, are required to be classified as liabilities. Due to the change in functional currency as of January 1, 2016, certain stock option awards with exercise prices denominated in Canadian dollars changed from equity classification to liability classification. As such, the historic equity classification of these stock option awards changed to liability classification effective January 1, 2016. The change in classification resulted in reclassification of these awards from, additional paid-in capital to liability-classified options.

Liability options are re-measured to their fair values at each reporting date with changes in the fair value recognized in share-based compensation expense or additional paid-in capital until settlement or cancellation. Under ASC 718, when an award is reclassified from equity to liability, if at the reclassification date the original vesting conditions are expected to be satisfied, then the minimum amount of compensation cost to be recognized is based on the grant date fair value of the original award. Fair value changes below this minimum amount are recorded in additional paid-in capital.

Revenue recognition

The Company earns revenue from research and development collaboration and contract services, licensing fees, milestone and royalty payments. In arrangements with multiple deliverables, the delivered item or items is considered a separate unit of accounting if: (1) the delivered item has value to the customer on a standalone basis; and (2) if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item is considered probable and substantially in the Company's control. If the elements of the arrangement do not meet both of the criteria above, they are recognized as a single unit of accounting. If the elements do meet the criteria above, arrangement consideration is allocated to the separate units of accounting based upon their relative selling price. Non-refundable payments received under collaborative research and development agreements are recorded as revenue as services are performed and related expenditures are incurred. Non-refundable upfront license fees from collaborative licensing and development arrangements are recognized as the Company fulfills its obligations related to the various elements within the agreements, in accordance with the contractual arrangements with third parties and the term over which the underlying benefit is being conferred. If non-refundable license fees have values to the customer on a standalone basis, separate from undelivered performance obligations, they are recognized upon delivery. To date, the Company has not recognized any non-refundable license fees upon delivery.

The Company evaluates new arrangements for any substantive milestones by considering: whether substantive uncertainty exists upon execution of the arrangement; if the event can only be achieved based in whole or in part on the Company’s performance, or occurrence of a specific outcome resulting from the Company’s performance; any future performance required, and payment is reasonable relative to all deliverables; and, the payment terms in the arrangement. Payments received upon the achievement of substantive milestones are recognized as revenue in their entirety. Payments received upon the occurrence of milestones that are non-substantive are deferred and recognized as revenue over the estimated period of performance applicable to the associated collaborative agreement.

Revenue earned under research and development manufacturing collaborations where the Company bears some or all of the risk of a product manufacturing failure is recognized when the purchaser accepts the product and there are no remaining rights of return.

Revenue earned under research and development collaborations where the Company does not bear any risk of product manufacturing failure is recognized in the period the work is performed. For contracts where the manufacturing amount is specified, revenue is recognized as product is manufactured in proportion to the total amount specified under the contract.

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.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASC 606). The standard, as subsequently amended, 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. The new guidance would be effective for fiscal years beginning after December 15, 2017, which for the Company means January 1, 2018. The Company has begun its evaluation and, at this time, does not expect adoption of this guidance to materially impact its financial statements.

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The update is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification of the statement of cash flows. Under this update, there are five simplifications for public companies. All excess tax benefits and tax deficiencies should be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. Excess tax benefits should be classified along with other tax cash flows as an operating activity. An entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. Cash paid by an employee when directly withholding shares for tax withholding purposes should be classified as financing activity. The amendments in this update would be effective for annual periods beginning after December 15, 2016, which for the Company means January 1, 2017. Early application is permitted. The Company has begun its evaluation and, at this time, does not expect adoption of this guidance to materially impact its financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842): Recognition and Measurement of Financial Assets and Financial Liabilities. The update supersedes Topic 840, Leases and requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. Topic 842 retains a distinction between finance leases and operating leases, with cash payments from operating leases classified within operating activities in the statement of cash flows. The amendments in this update are effective for fiscal years beginning after December 15, 2018 for public business entities, which for the Company means January 1, 2019. The Company does not plan to early adopt this update. The extent of the impact of this adoption has not yet been determined.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. Under this update, the classification of cash receipts and payments that have aspects of more than one class of cash flows should be determined first by applying specific guidance in GAAP. In the absence of specific guidance, an entity should determine each separately identifiable source or use within the cash receipts and cash payments on the basis of the nature of the underlying cash flows. An entity should then classify each separately identifiable source or use within the cash receipts and payments on the basis of their nature in financing, investing, or operating activities. In situations in which cash receipts and payments have aspects of more than one class of cash flows and cannot be separated by source or use, the appropriate classification should depend on the activity that is likely to be the predominant source or use of cash flows for the item. The amendments in this update are effective for public business entities for fiscal years beginning after December 31, 2017, which for the Company means January 1, 2018, and interim periods within those fiscal years. The Company has begun its evaluation and, at this time, does not expect the update to materially impact its statement of cash flows.

Impairment Evaluations For Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Impairment evaluations for intangible assets and goodwill

All in-process research and development (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 Company evaluates the recoverable amount of intangible assets on an annual basis and performs an annual evaluation of goodwill as of December 31 each year, unless there is an event or change in the business that could indicate impairment, in which case earlier testing is performed.

Impairment of intangible assets

During the three months ended June 30, 2016, the Company recorded an impairment charge of $156,324,000 and a corresponding income tax benefit of $64,864,000 related to the decrease in deferred tax liability for the discontinuance of the ARB-1598 program in the Immune Modulator drug class after extensive research and analysis, as well as a delay for additional exploration of the biology of the cccDNA Sterilizer drug class.

As a result of the impairment in the carrying values of the specified intangibles, as set out above, the Company reassessed the fair value of all of the IPR&D, which fair values were calculated to be above the respective carrying values; therefore, no additional impairment was recorded. At September 30, 2016, the Company did not identify any new indicators of impairment therefore a quantitative assessment was not performed.

The following table summarizes the carrying values, net of impairment of the intangible assets as at September 30, 2016:



	September 30, 2016		December 31, 2015
IPR&D – Immune Modulators	73,243		183,103
IPR&D – Antigen Inhibitors	36,437		36,437
IPR&D – cccDNA Sterilizers	86,638		133,102
Total IPR&D	$	196,318	$	352,642

Impairment evaluation of goodwill

The Company further determined that the impairment of the intangible assets triggers earlier evaluation of the carrying value of goodwill prior to the scheduled annual impairment testing date of December 31. As part of the evaluation of the recoverability of goodwill, the Company has identified only one reporting unit to which the total 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 June 30, 2016, the fair value of the reporting unit exceeded the carrying value of the reporting unit, and as such the second step of the impairment test, which measures the amount of impairment charge if any, was not required. In estimating the fair value of the reporting unit, the Company prepared a discounted cash flow model using its current best estimates of future income and a discount rate appropriate to the business, as well as by considering the Company's market capitalization. At September 30, 2016, the Company did not identify any new indicators of impairment. No impairment charge on goodwill was recorded for the period ended September 30, 2016.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Collaborations, Contracts and Licensing Agreements

9 Months Ended

Sep. 30, 2016

Deferred Revenue Disclosure [Abstract]

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,
	2016		2015		2016		2015
Collaborations and contracts
DoD (a)	$	—	$	2,002	—		$	6,909
Monsanto (b)	—		309		—		826
Dicerna (c)	87		724		226		1,130
Total research and development collaborations and contracts	87		3,035		226		8,865
Licensing fees, milestone and royalty payments
Monsanto licensing fees and milestone payments (b)	—		727		—		2,374
Dicerna licensing fee (c)	640		263		1,066		789
Other milestone and royalty payments (d)	47		40		394		159
Total licensing fees, milestone and royalty payments	687		1,030		1,460		3,322
Total revenue	$	774	$	4,065	$	1,686	$	12,187

The following table sets forth deferred collaborations and contracts revenue:



	September 30, 2016		December 31, 2015
DoD (a)	$	15	$	15
Dicerna current portion (c)	—		853
Deferred revenue, current portion	15		868
Dicerna long-term portion (c)	—		213
Total deferred revenue	$	15	$	1,081

(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.

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 was completed in November 2015. The Company is currently conducting contract close out procedures with the DoD.

(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 had an option to obtain a license to use the Company’s proprietary delivery technology and related intellectual property for use in agriculture.

Under the Agreements, the Company established a wholly-owned subsidiary, PADCo. The Company determined that PADCo was a variable interest entity (“VIE”); however, Monsanto is the primary beneficiary of the arrangement. PADCo was established to perform research and development activities, which were funded by Monsanto in return for a call option to acquire the equity or all of the assets of PADCo. On March 4, 2016, Monsanto exercised its option to acquire 100% of the outstanding shares of PADCo and paid the Company an option exercise fee of $1,000,000. From the acquisition of PADCo, Monsanto received a worldwide, exclusive right to use the Company’s proprietary delivery technology in the field of agriculture. The Company recorded the exercise fee received as gain on disposition of financial instrument on its consolidated statement of operations and comprehensive loss for the nine months ended September 30, 2016.

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 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. In September 2016, Dicerna announced the discontinuation of their DCR-PH1 program using the Company's technology. As such, the Company revised the estimated completion date of performance period from March 2017 to September 30, 2016, at which time the Company has no further remaining performance obligations. This resulted in the recognition of $640,000 and $1,066,000 in Dicerna license fee revenue for the three and nine months ended September 30, 2016, respectively.

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. The Company has deferred the recognition of revenue on all cash deposit payments received for manufacturing work orders until acceptance of inventory. Revenue from service work orders is recognized as the services are performed.

(d) 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 ™ (Optisomal Vinorelbine) and Brakiva ™ (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. In the year ended December 31, 2012, the Company received a milestone of $1,000,000 based on the FDA's approval of Marqibo and will receive royalty payments based on Marqibo's commercial sales. 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, 2016, the Company recorded $50,000 and $136,000 in Marqibo royalty revenue (three and nine months ended September 30, 2015 - $40,000 and $159,000 respectively). For the nine months ended September 30, 2016, 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.

Accounts Payable and Accrued Liabilities

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

Accounts payable and accrued liabilities

Accounts payable and accrued liabilities are comprised of the following, in thousands:



	September 30, 2016		December 31, 2015
Trade accounts payable	$	2,071	$	2,610
Research and development accruals	2,568		2,358
Professional fee accruals	264		640
Deferred lease inducements	244		297
Payroll accruals	1,252		2,331
Other accrued liabilities	733		591
	$	7,132	$	8,827

Share Capital

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share Capital

(a) 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 $142,175,000.

(b) Stock-based compensation

At the Company’s annual general and special meeting of shareholders on May 19, 2016, the shareholders of the Company approved the adoption of the Company's 2016 Omnibus Share and Incentive Plan (the "2016 Plan") and the reserve of 5,000,000 shares of the Company issuable pursuant to awards under the 2016 Plan. These include both equity-classified and liability-classified stock options. The Company's 2011 Omnibus Share Compensation Plan, as amended, also remains in effect.

Valuation assumptions

Liability options are re-measured to their fair values at each reporting date, using the Black-Scholes valuation model. The methodology and assumptions prevailing at the re-measurement date used to estimate the fair values of liability options remain unchanged from the date of grant of equity classified stock option awards. Assumptions about the Company’s expected stock-price volatility are based on the historical volatility of the Company’s publicly traded stock. The risk-free interest rate used for each grant is equal to the zero coupon rate for instruments with a similar expected life. Expected life assumptions are based on the Company’s historical data. The weighted average Black-Scholes option-pricing assumptions and the resultant fair values as at the reclassification date of January 1, 2016, and as at September 30, 2016, are presented in the following table:



	September 30,			January 1,
	2016			2016
Dividend yield	—		%	—		%
Expected volatility	70.56		%	97.78		%
Risk-free interest rate	0.66		%	0.86		%
Expected average term (years)	3.9			5.3
Fair value of options outstanding	$	1.52		$	3.33
Aggregate fair value of options outstanding (in thousands)	$	948		$	1,909
Number of options outstanding	639,500			718,333

Stock option activity for liability options



	Number of optioned common shares		Weighted average exercise price (C$)		Weighted average exercise price (US$)		Aggregate intrinsic value (US$)
Balance, January 1, 2016	718,333		$	7.24	$	5.23	$	604
Options exercised	(30,000	)	3.00		2.29		35
Options forfeited, canceled or expired	(48,833	)	8.19		6.24		—
Balance, September 30, 2016	639,500		$	7.36	$	5.61	$	251

Liability options expire at various dates from August 6, 2017 to May 22, 2024.

The following table summarizes information pertaining to liability options outstanding at September 30, 2016:



			Options outstanding September 30, 2016				Options exercisable September 30, 2016
Range of Exercise prices (US$)			Number of options outstanding	Weighted average remaining contractual life (years)	Weighted average exercise price (US$)		Number of options exercisable	Weighted average exercise price (US$)
$1.30	to	$1.83	120,000	4.3	$	1.52	120,000	$	1.52
$2.94	to	$3.93	120,000	4.2	3.50		120,000	3.50
$4.06	to	$4.38	74,000	5.9	4.32		74,000	4.32
$4.96	to	$6.33	76,250	5.6	5.97		76,250	5.97
$6.95	to	$6.95	150,000	7.0	6.95		112,500	6.95
$9.55	to	$12.50	99,250	7.4	11.79		83,500	11.71
$1.30	to	$12.50	639,500	5.8	$	5.61	586,250	$	5.35

At September 30, 2016, there were 586,250 liability options exercisable with a weighted average exercise price of $5.35 (C$7.02). The weighted average remaining contractual life of exercisable liability options as at September 30, 2016 was 5.6 years.

A summary of the Company's non-vested liability stock option activity and related information at September 30, 2016 is as follows:



	Number of optioned common shares		Weighted average fair value (US$)
Non-vested at January 1, 2016	134,000		$	3.61
Options vested	(55,750	)	0.72
Non-vested options forfeited	(25,000	)	0.16
Non-vested at September 30, 2016	53,250		$	1.77

The weighted average remaining contractual life for liability options expected to vest at September 30, 2016 was 7.1 years and the weighted average exercise price for these options was $8.50 (C$11.16) per share.

The total fair value of liability options that vested during the nine months ended September 30, 2016 was $40,300.

- 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.

+ References

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+ Details

Concentrations of Credit Risk	9 Months Ended
Concentrations of Credit Risk	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Concentrations of credit risk	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 on a timely basis. 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, 2016 was the accounts receivable balance of $395,000 (December 31, 2015 -$1,008,000). All accounts receivable balances were current as at September 30, 2016 and at December 31, 2015.

Contingencies and Commitments	9 Months Ended
Contingencies and Commitments	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies and commitments	Contingencies and commitments Property lease On August 9, 2016, the Company signed a new lease agreement with a target renovation start date of November 1, 2016, subsequently amended to October 7, 2016. The new location, 701 Veterans Circle, Warminster, Pennsylvania, has approximately 35,000 square feet of laboratory facilities and office space. Once renovations are complete, this facility will replace the current Doylestown, Pennsylvania facility. The term of the lease is 10.6 years and expires on April 30, 2027, with the option to extend for up to two 5-year terms. The estimated total facility commitment, including operating costs, is approximately $6,900,000. 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, 2016, a cumulative contribution of $2,823,000 (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, 2016, the Company earned royalties on Marqibo sales in the amount of $50,000 and $136,000 respectively (three and nine months ended September 30, 2015 – $40,000 and $159,000 respectively) (see note 4(d)), resulting in $3,000 being recorded by the Company as royalty payable to TPC (September 30, 2015 -$4,000). The cumulative amount paid or accrued up to September 30, 2016 was $15,000, resulting in the contingent amount due to TPC being $2,808,000 (C$3,683,000) 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. 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. Arbitration with the University of British Columbia (“UBC”) Certain early work on lipid nanoparticle delivery systems and related inventions was undertaken at Inex Pharmaceuticals Inc and assigned to the University of British Columbia (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. Alnylam has in turn sublicensed back to the Company under the licensed UBC patents for discovery, development and commercialization of siRNA products. 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 continues to dispute UBC’s allegations, and no dates have been scheduled for this arbitration. However, the Company notes that arbitration is subject to inherent uncertainty and an arbitrator could rule against the Company. 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. However, the defense of arbitration and related matters are costly and may divert the attention of the Company’s management and other resources that would otherwise be engaged in other activities. Costs related to the arbitration are 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. 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. 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 $6,727,000 as at the date of acquisition of Arbutus Inc., and have been treated as contingent consideration payable in the purchase price allocation, 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. Contingent consideration is recorded as a financial liability, and measured at 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 (see note 2). 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 in 2014. 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 is required to pay up to $1,200,000 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. On June 5, 2016, the Company and Blumberg entered into an amended and restated research collaboration and funding agreement, primarily to: (i) increase the annual funding amount to Blumberg from $1,000,000 to $1,100,000; (ii) extend the initial term through to October 29, 2018; (iii) provide an option for the Company to extend the term past October 29, 2018 for two additional one year terms; and (iv) expand our exclusive license under the Agreement to include the sole and exclusive right to obtain and exclusive, royalty-bearing, worldwide and all-fields license under Blumberg's rights in certain other inventions described in the agreement. 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-30). In 2015, the Company discontinued the OCB-30 development program based on significant research and analysis. In July 2016, the Company provided NeuroVive with a notice of termination of the license agreement.The parties agreed to terminate the agreement in October 2016. 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. In 2016, the Company discontinued the TLR9 development program based on significant levels of research and analysis (refer to note 3 above).

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent event	Subsequent event Termination of License Agreement with Acuitas In December 2013, the Company entered into a cross-license agreement with Acuitas Therapeutics Inc., or Acuitas. The terms of the cross-license agreement provided Acuitas with access to certain of the Company's earlier intellectual property generated prior to April 2010 for a specific field. On August 29, 2016, the Company provided Acuitas with notice that it considered Acuitas to be in material breach of the cross-license agreement. The cross-license agreement provides that it may be terminated upon any material breach by the other party 60 days after receipt of written notice of termination describing the material breach in reasonable detail. On October 25, 2016, Acuitas filed a Notice of Civil Claim in the Supreme Court of British Columbia seeking an order that the Company perform its obligations under the Cross License Agreement, for damages ancillary to specific performance, injunctive relief, interest and costs. The Company disputes Acuitas’ position and have not recorded an estimate of the possible loss associated with this claim, due to the uncertainties related to both the likelihood and amount of any possible loss or range of loss. The Company will file its response within the time frame prescribed by the Court.

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of presentation

Principles of Consolidation

Foreign currency translation and functional currency conversion

Income or loss per share

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.

Liability-classified stock option awards

Revenue recognition

Recent accounting pronouncements

Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Assets and liabilities measured at fair value on a recurring basis



	Level 1		Level 2	Level 3		September 30, 2016
Assets
Cash and cash equivalents	$	26,630	—	—		$	26,630
Short-term investments	123,052		—	—		123,052
Total	$	149,682	—	—		$	149,682
Liabilities
Liability-classified options	—		—	$	948	$	948
Warrants	—		—	297		297
Contingent consideration	—		—	8,253		8,253
Total	—		—	$	9,498	$	9,498



	Level 1		Level 2	Level 3		December 31, 2015
Assets
Cash and cash equivalents	$	166,779	—	—		$	166,779
Short-term investments	14,525		—	—		14,525
Term deposit	10,070		—	—		10,070
Total	$	191,374	—	—		$	191,374
Liabilities
Warrants	—		—	$	883	$	883
Contingent consideration	—		—	7,497		7,497
Total	—		—	$	8,380	$	8,380

Changes in fair value of warrants

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



	Liability at beginning of the period		Fair value of warrants exercised in the period			Increase (decrease) in fair value of warrants			Foreign exchange (gain) loss			Liability at end of the period
Nine months ended September 30, 2015	$	5,099	$	(334	)	$	(2,777	)	$	(493	)	$	1,495
Nine months ended September 30, 2016	$	883	$	(247	)	$	(339	)	$	—		$	297

Schedule of weighted average Black-Scholes warrant pricing assumptions and the resultant fair values

The weighted average Black-Scholes option-pricing assumptions and the resultant fair values, for warrants outstanding at September 30, 2016 and at December 31, 2015 are as follows:



	September 30, 2016			December 31, 2015
Dividend yield	—		%	—		%
Expected volatility	49.69		%	49.07		%
Risk-free interest rate	0.51		%	0.48		%
Expected average term	0.4 years			0.6 years
Fair value of warrants outstanding	$	1.48		$	2.33
Aggregate fair value of warrants outstanding	$	297		$	883
Number of warrants outstanding	201,000			379,500

The weighted average Black-Scholes option-pricing assumptions and the resultant fair values as at the reclassification date of January 1, 2016, and as at September 30, 2016, are presented in the following table:



	September 30,			January 1,
	2016			2016
Dividend yield	—		%	—		%
Expected volatility	70.56		%	97.78		%
Risk-free interest rate	0.66		%	0.86		%
Expected average term (years)	3.9			5.3
Fair value of options outstanding	$	1.52		$	3.33
Aggregate fair value of options outstanding (in thousands)	$	948		$	1,909
Number of options outstanding	639,500			718,333

Schedule of changes in fair value of contingent consideration



	Liability at beginning of the period¹		Increase in fair value of Contingent Consideration		Liability at end of the period
Nine months ended September 30, 2015	$	4,736	$	1,929	$	6,665
Nine months ended September 30, 2016	$	7,497	$	756	$	8,253


1.	Contingent consideration was assumed by the Company as part of its acquisition of Arbutus Inc. As such, the beginning balance for the nine-months ended September 30, 2015 was the fair value as at the acquisition date of March 4, 2015. The beginning balance for the nine-months ended September 30, 2016 was the fair value as at December 31, 2015.

Impairment Evaluations For Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of carrying values, net of impairment of the intangible assets

The following table summarizes the carrying values, net of impairment of the intangible assets as at September 30, 2016:



	September 30, 2016		December 31, 2015
IPR&D – Immune Modulators	73,243		183,103
IPR&D – Antigen Inhibitors	36,437		36,437
IPR&D – cccDNA Sterilizers	86,638		133,102
Total IPR&D	$	196,318	$	352,642

Collaborations, Contracts and Licensing Agreements (Tables)

9 Months Ended

Sep. 30, 2016

Deferred Revenue Disclosure [Abstract]

Schedule of revenue recognized under 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,
	2016		2015		2016		2015
Collaborations and contracts
DoD (a)	$	—	$	2,002	—		$	6,909
Monsanto (b)	—		309		—		826
Dicerna (c)	87		724		226		1,130
Total research and development collaborations and contracts	87		3,035		226		8,865
Licensing fees, milestone and royalty payments
Monsanto licensing fees and milestone payments (b)	—		727		—		2,374
Dicerna licensing fee (c)	640		263		1,066		789
Other milestone and royalty payments (d)	47		40		394		159
Total licensing fees, milestone and royalty payments	687		1,030		1,460		3,322
Total revenue	$	774	$	4,065	$	1,686	$	12,187

Schedule of deferred collaborations and contracts revenue

The following table sets forth deferred collaborations and contracts revenue:



	September 30, 2016		December 31, 2015
DoD (a)	$	15	$	15
Dicerna current portion (c)	—		853
Deferred revenue, current portion	15		868
Dicerna long-term portion (c)	—		213
Total deferred revenue	$	15	$	1,081

Accounts Payable and Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued liabilities

Accounts payable and accrued liabilities are comprised of the following, in thousands:



	September 30, 2016		December 31, 2015
Trade accounts payable	$	2,071	$	2,610
Research and development accruals	2,568		2,358
Professional fee accruals	264		640
Deferred lease inducements	244		297
Payroll accruals	1,252		2,331
Other accrued liabilities	733		591
	$	7,132	$	8,827

Share Capital (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of weighted average Black-Scholes option-pricing assumptions for liability options

The weighted average Black-Scholes option-pricing assumptions and the resultant fair values, for warrants outstanding at September 30, 2016 and at December 31, 2015 are as follows:



	September 30, 2016			December 31, 2015
Dividend yield	—		%	—		%
Expected volatility	49.69		%	49.07		%
Risk-free interest rate	0.51		%	0.48		%
Expected average term	0.4 years			0.6 years
Fair value of warrants outstanding	$	1.48		$	2.33
Aggregate fair value of warrants outstanding	$	297		$	883
Number of warrants outstanding	201,000			379,500



	September 30,			January 1,
	2016			2016
Dividend yield	—		%	—		%
Expected volatility	70.56		%	97.78		%
Risk-free interest rate	0.66		%	0.86		%
Expected average term (years)	3.9			5.3
Fair value of options outstanding	$	1.52		$	3.33
Aggregate fair value of options outstanding (in thousands)	$	948		$	1,909
Number of options outstanding	639,500			718,333

Schedule of stock option activity for liability options

Stock option activity for liability options



	Number of optioned common shares		Weighted average exercise price (C$)		Weighted average exercise price (US$)		Aggregate intrinsic value (US$)
Balance, January 1, 2016	718,333		$	7.24	$	5.23	$	604
Options exercised	(30,000	)	3.00		2.29		35
Options forfeited, canceled or expired	(48,833	)	8.19		6.24		—
Balance, September 30, 2016	639,500		$	7.36	$	5.61	$	251

Summary of information for liability options outstanding

The following table summarizes information pertaining to liability options outstanding at September 30, 2016:



			Options outstanding September 30, 2016				Options exercisable September 30, 2016
Range of Exercise prices (US$)			Number of options outstanding	Weighted average remaining contractual life (years)	Weighted average exercise price (US$)		Number of options exercisable	Weighted average exercise price (US$)
$1.30	to	$1.83	120,000	4.3	$	1.52	120,000	$	1.52
$2.94	to	$3.93	120,000	4.2	3.50		120,000	3.50
$4.06	to	$4.38	74,000	5.9	4.32		74,000	4.32
$4.96	to	$6.33	76,250	5.6	5.97		76,250	5.97
$6.95	to	$6.95	150,000	7.0	6.95		112,500	6.95
$9.55	to	$12.50	99,250	7.4	11.79		83,500	11.71
$1.30	to	$12.50	639,500	5.8	$	5.61	586,250	$	5.35

Schedule of non-vested liability stock option activity

A summary of the Company's non-vested liability stock option activity and related information at September 30, 2016 is as follows:



	Number of optioned common shares		Weighted average fair value (US$)
Non-vested at January 1, 2016	134,000		$	3.61
Options vested	(55,750	)	0.72
Non-vested options forfeited	(25,000	)	0.16
Non-vested at September 30, 2016	53,250		$	1.77

Significant Accounting Policies - Narrative (Details)	9 Months Ended
Significant Accounting Policies - Narrative (Details)	Sep. 30, 2016 subsidiary shares	Sep. 30, 2015 shares	Mar. 04, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Wholly-owed subsidiaries \| subsidiary	2
Anti-dilutive common shares excluded from calculation of loss per common share (in shares)	4,978,101	6,481,295
Common shares issued subject to repurchase provisions
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common shares excluded from calculation of loss per common share (in shares)	1,007,058	3,625,411
Monsanto \| PADCo.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Business acquisition, percentage of outstanding shares acquired			100.00%

Significant Accounting Policies - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jan. 01, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 26,630		$ 166,779
Short-term investments	123,052		14,525
Term deposit	0		10,070
Total Assets	149,682		191,374
Liabilities
Liability-classified options	948	$ 1,909
Warrants	297		883	$ 1,495	$ 5,099
Contingent consideration	8,253		7,497
Total Liabilities	9,498		8,380
Fair Value, Inputs, Level 1
Assets
Cash and cash equivalents	26,630		166,779
Short-term investments	123,052		14,525
Term deposit			10,070
Total Assets	149,682		191,374
Fair Value, Inputs, Level 3
Liabilities
Liability-classified options	948
Warrants	297		883
Contingent consideration	8,253		7,497
Total Liabilities	$ 9,498		$ 8,380

Significant Accounting Policies - Changes in Fair Value of the Company's Warrants (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Liabilities Measured on Recurring Basis [Roll Forward]
Liability at beginning of the period	$ 883	$ 5,099
Fair value of warrants exercised in the period	(247)	(334)
Increase (decrease) in fair value of warrants	(339)	(2,777)
Foreign exchange (gain) loss	0	(493)
Liability at end of the period	$ 297	$ 1,495

Significant Accounting Policies - Weighted Average Black-Scholes Option-Pricing Assumptions and the Resultant Fair Values (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Dividend yield	0.00%	0.00%
Expected volatility	49.69%	49.07%
Risk-free interest rate	0.51%	0.48%
Expected average term	4 months 24 days	7 months 6 days
Fair value of warrants outstanding (in USD per share)	$ 1.48	$ 2.33
Aggregate fair value of warrants outstanding	$ 297	$ 883
Number of warrants outstanding (in shares)	201,000	379,500

Significant Accounting Policies - Changes in Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration Fair Value, Liability [Roll Forward]
Liability at beginning of the period			$ 7,497
Increase in fair value of Contingent Consideration	$ 260	$ 0	756	$ 0
Liability at end of the period	$ 8,253		$ 8,253
Arbutus Inc.
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration Fair Value, Liability [Roll Forward]
Liability at beginning of the period				4,736
Increase in fair value of Contingent Consideration				1,929
Liability at end of the period		$ 6,665		$ 6,665

Impairment Evaluations For Intangible Assets and Goodwill - Narrative (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($) reporting_unit	Sep. 30, 2015 USD ($)
Indefinite-lived Intangible Assets [Line Items]
Impairment charge	$ 0		$ 37,990,000	$ 156,324,000	$ 37,990,000
Income tax benefit on impairment charge	$ 0		$ 15,196,000	$ 64,864,000	$ 15,196,000
Number of reporting units \| reporting_unit				1
Goodwill impairment charge				$ 0
Cyclophilin drug candidate, OCB-030
Indefinite-lived Intangible Assets [Line Items]
Impairment charge		$ 156,324,000
Income tax benefit on impairment charge		$ 64,864,000

Impairment Evaluations For Intangible Assets and Goodwill - Summary of carrying value of intangible assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Indefinite-lived Intangible Assets [Line Items]
Intangible assets	$ 196,318	$ 352,642
IPR&D – Immune Modulators
Indefinite-lived Intangible Assets [Line Items]
Intangible assets	73,243	183,103
IPR&D – Antigen Inhibitors
Indefinite-lived Intangible Assets [Line Items]
Intangible assets	36,437	36,437
IPR&D – cccDNA Sterilizers
Indefinite-lived Intangible Assets [Line Items]
Intangible assets	$ 86,638	$ 133,102

Collaborations, Contracts and Licensing Agreements - Revenue Recognized Under Collaborations, Contracts and Licensing Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Collaborations and contracts
Collaborations and contracts	$ 87	$ 3,035	$ 226	$ 8,865
Licensing fees, milestone and royalty payments
Licensing fees, milestone and royalty payments	687	1,030	1,460	3,322
Total revenue	774	4,065	1,686	12,187
DoD
Collaborations and contracts
Collaborations and contracts	0	2,002	0	6,909
Monsanto
Collaborations and contracts
Collaborations and contracts	0	309	0	826
Licensing fees, milestone and royalty payments
Licensing fees, milestone and royalty payments	0	727	0	2,374
Dicerna
Collaborations and contracts
Collaborations and contracts	87	724	226	1,130
Licensing fees, milestone and royalty payments
Licensing fees, milestone and royalty payments	640	263	1,066	789
Other milestone and royalty payments
Licensing fees, milestone and royalty payments
Licensing fees, milestone and royalty payments	$ 47	$ 40	$ 394	$ 159

Collaborations, Contracts and Licensing Agreements - Deferred Collaborations and Contracts Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Nov. 16, 2014
Deferred Revenue Arrangement [Line Items]
Deferred revenue, current portion	$ 15	$ 868
Deferred revenue, long-term portion	0	213
Total deferred revenue	15	1,081
DoD
Deferred Revenue Arrangement [Line Items]
Deferred revenue, current portion	15	15
Dicerna
Deferred Revenue Arrangement [Line Items]
Deferred revenue, current portion	0	853
Deferred revenue, long-term portion	$ 0	$ 213
Total deferred revenue			$ 2,500

- Definition

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

+ References + Details

- Definition

The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References + Details

Collaborations, Contracts and Licensing Agreements - Narrative (Details)		3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 16, 2014 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2012 USD ($)	Mar. 04, 2016 USD ($)	Dec. 31, 2015 USD ($)	May 06, 2006 chemotherapy_products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Licensing fees, milestone and royalty payments		$ 687,000	$ 1,030,000	$ 1,460,000	$ 3,322,000
Total deferred revenue		15,000		15,000				$ 1,081,000
Number of chemotherapy products with worldwide licenses \| chemotherapy_products									3
Collaborations and contracts		87,000	3,035,000	226,000	8,865,000
Dicerna
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Licensing fees, milestone and royalty payments		640,000	263,000	1,066,000	789,000
Total deferred revenue	$ 2,500,000
Milestone payment	$ 22,000,000
Collaborations and contracts		$ 87,000	724,000	$ 226,000	1,130,000
Marqibo
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalties percentage		2.50%		2.50%
Talon
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Potential milestone payments						$ 18,000,000
Marqibo Commercial Sales
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Collaborations and contracts						$ 1,000,000
Marqibo
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalty revenue		$ 50,000	$ 40,000	$ 136,000	$ 159,000
PADCo. \| Monsanto
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Business acquisition, percentage of outstanding shares acquired							100.00%
Optional exercised contractual option, amount							$ 1,000,000

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Trade accounts payable	$ 2,071	$ 2,610
Research and development accruals	2,568	2,358
Professional fee accruals	264	640
Deferred lease inducements	244	297
Payroll accruals	1,252	2,331
Other accrued liabilities	733	591
Accounts payable and accrued liabilities	$ 7,132	$ 8,827

Share Capital - Narrative (Details)			3 Months Ended		9 Months Ended
Share Capital - Narrative (Details)	May 19, 2016 shares	Mar. 25, 2015 USD ($) $ / shares shares	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 CAD / shares shares	Sep. 30, 2016 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during underwritten public offering (in shares) \| shares		7,500,000
Stock price at public offering (in USD per share) \| $ / shares		$ 20.25
Gross proceeds from issuance of stock		$ 151,875,000	$ 0	$ 0	$ 0	$ 142,177,000
Period for option to purchase additional shares		30 days
Options granted (in shares) \| shares		1,125,000
Potential proceeds of additional shares authorized		$ 22,781,000
Payments of stock issuance costs, including commissions and professional fees		9,700,000
Proceeds from issuance of stock, net		$ 142,175,000
Increase in number of stock-based compensation awards authorized (in shares) \| shares	5,000,000
Remaining contractual life of exercisable liability options					5 years 7 months 6 days
Remaining contractual life of exercisable liability options expected to vest					7 years 1 month 6 days
Weighted average exercise price, exercisable liability options expected to vest \| (per share)							CAD 11.16	$ 8.50
Fair value of vested liability options					$ 40,300
Range 7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options exercisable (in shares) \| shares							586,250	586,250
Weighted average exercise price, exercisable liability options \| (per share)							CAD 7.02	$ 5.35

Share Capital - Valuation Assumptions Liability Options (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Jan. 01, 2016	Sep. 30, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield	0.00%	0.00%
Expected volatility	97.78%	70.56%
Risk-free interest rate	0.86%	0.66%
Expected average term (years)	5 years 3 months 18 days	3 years 10 months 24 days
Fair value of options outstanding (in USD per share)	$ 3.33	$ 1.52
Aggregate fair value of options outstanding (in thousands)	$ 1,909	$ 948
Number of options outstanding (in shares)	718,333	639,500	718,333

Share Capital - Stock Option Activity For Liability Options (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($) $ / shares shares	Sep. 30, 2016 USD ($) CAD / shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance - Number of optioned common shares (in shares)	718,333
Beginning Balance - Weighted average exercise price (in CAD or USD per share) \| (per share)	$ 5.23	CAD 7.24
Beginning Balance - Aggregate intrinsic value (in USD per share) \| $	$ 604
Options exercised (in shares)	(30,000)
Options exercised - Weighted average exercise price \| (per share)	$ 2.29	CAD 3.00
Options exercised - Aggregate intrinsic value \| $	$ 35	CAD 35
Options forfeited, canceled or expired (in shares)	(48,833)
Options forfeited, canceled or expired - Weighted average exercise price \| (per share)	$ 6.24	CAD 8.19
Ending Balance - Number of optioned common shares (in shares)	639,500
Ending Balance - Weighted average exercise price (in CAD or USD per share) \| (per share)	$ 5.61	CAD 7.36
Ending Balance - Aggregate intrinsic value (in USD per share) \| $	$ 251

Share Capital - Summary of Information for Liability Options (Details)	9 Months Ended
	Sep. 30, 2016 CAD / shares $ / shares shares	Sep. 30, 2016 $ / shares shares	Dec. 31, 2015 CAD / shares	Dec. 31, 2015 $ / shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price (in USD per share) \| (per share)	CAD 7.36	$ 5.61	CAD 7.24	$ 5.23
Range 1
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 1.30
Range of Exercise prices - High (in USD per share)	CAD 1.83
Number of options outstanding (in shares) \| shares	120,000	120,000
Weighted average remaining contractual life (years)	4 years 3 months 18 days
Weighted average exercise price (in USD per share)		$ 1.52
Number of options exercisable (in shares) \| shares	120,000	120,000
Weighted average exercise price (in USD per share)		$ 1.52
Range 2
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 2.94
Range of Exercise prices - High (in USD per share)	CAD 3.93
Number of options outstanding (in shares) \| shares	120,000	120,000
Weighted average remaining contractual life (years)	4 years 2 months 12 days
Weighted average exercise price (in USD per share)		$ 3.50
Number of options exercisable (in shares) \| shares	120,000	120,000
Weighted average exercise price (in USD per share)		$ 3.50
Range 3
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 4.06
Range of Exercise prices - High (in USD per share)	CAD 4.38
Number of options outstanding (in shares) \| shares	74,000	74,000
Weighted average remaining contractual life (years)	5 years 10 months 24 days
Weighted average exercise price (in USD per share)		$ 4.32
Number of options exercisable (in shares) \| shares	74,000	74,000
Weighted average exercise price (in USD per share)		$ 4.32
Range 4
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 4.96
Range of Exercise prices - High (in USD per share)	CAD 6.33
Number of options outstanding (in shares) \| shares	76,250	76,250
Weighted average remaining contractual life (years)	5 years 7 months 6 days
Weighted average exercise price (in USD per share)		$ 5.97
Number of options exercisable (in shares) \| shares	76,250	76,250
Weighted average exercise price (in USD per share)		$ 5.97
Range 5
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 6.95
Range of Exercise prices - High (in USD per share)	CAD 6.95
Number of options outstanding (in shares) \| shares	150,000	150,000
Weighted average remaining contractual life (years)	7 years
Weighted average exercise price (in USD per share)		$ 6.95
Number of options exercisable (in shares) \| shares	112,500	112,500
Weighted average exercise price (in USD per share)		$ 6.95
Range 6
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 9.55
Range of Exercise prices - High (in USD per share)	CAD 12.50
Number of options outstanding (in shares) \| shares	99,250	99,250
Weighted average remaining contractual life (years)	7 years 4 months 24 days
Weighted average exercise price (in USD per share)		$ 11.79
Number of options exercisable (in shares) \| shares	83,500	83,500
Weighted average exercise price (in USD per share)		$ 11.71
Range 7
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise prices - Low (in USD per share)	CAD 1.30
Range of Exercise prices - High (in USD per share)	CAD 12.50
Number of options outstanding (in shares) \| shares	639,500	639,500
Weighted average remaining contractual life (years)	5 years 9 months 18 days
Weighted average exercise price (in USD per share)		$ 5.61
Number of options exercisable (in shares) \| shares	586,250	586,250
Weighted average exercise price (in USD per share) \| (per share)	CAD 7.02	$ 5.35

Share Capital - Summary of Non-Vested Liability Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2016 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Non-vested, beginning balance (in shares) \| shares	134,000
Options vested (in shares) \| shares	(55,750)
Non-vested options forfeited (in shares) \| shares	(25,000)
Non-vested, ending balance (in shares) \| shares	53,250
Non-vested, beginning balance, weighted average fair value (in USD per share) \| $ / shares	$ 3.61
Options vested (in USD per share) \| $ / shares	0.72
Non-vested options forfeited (in USD per share) \| $ / shares	0.16
Non-vested, ending balance, weighted average fair value (in USD per share) \| $ / shares	$ 1.77

Concentrations of Credit Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Accounts receivable	$ 395	$ 1,008

Contingencies and Commitments (Details) ft² in Thousands, CAD in Thousands				1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended	53 Months Ended		203 Months Ended
	Aug. 09, 2016 USD ($) ft² renewal_term	Jan. 16, 2015 USD ($)	Nov. 29, 2012 USD ($)	Nov. 30, 2014 USD ($)	Oct. 31, 2014 USD ($)	Feb. 28, 2014 USD ($) compound_series	Sep. 30, 2016 USD ($) program	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($) program	Sep. 30, 2015 USD ($)	Dec. 31, 2013 USD ($)	Mar. 31, 2004 USD ($)	Mar. 31, 2004 CAD	Sep. 30, 2016 USD ($) program	Sep. 30, 2016 CAD	Sep. 30, 2016 CAD program	Jun. 05, 2016 USD ($)	Dec. 30, 2014 USD ($) compound_series
Contingencies and Commitments [Line Items]
Percent of costs funded by TPC												27.00%	27.00%
Maximum contribution for product												$ 7,179,000	CAD 9,323
Cumulative contribution for product														$ 2,823,000	CAD 3,702
Royalty guarantees commitments percentage									2.50%
Arbitration with the University of British Columbia
Contingencies and Commitments [Line Items]
Loss contingency, damages sought for allegedly unpaid royalties		$ 3,500,000
Arbutus Inc. \| Enantigen
Contingencies and Commitments [Line Items]
Business combination, high end of payment upon achievement of certain triggering events					$ 21,000,000
Programs in pre-clinical development \| program							2		2					2		2
Business combination, regulatory, development and sales milestone payments estimated fair value					6,727,000
Marina
Contingencies and Commitments [Line Items]
Upfront fee			$ 300,000
Milestone payment			$ 3,250,000								$ 200,000
Blumberg and Drexel \| Arbutus Inc.
Contingencies and Commitments [Line Items]
Number of series of compounds \| compound_series						3
License fee				$ 50,000		$ 150,000
Development and regulatory milestones payment per licensed compound series, maximum				$ 1,200,000		3,500,000
Sales performance milestones payment per licensed product, maximum						$ 92,500,000
Blumberg \| Arbutus Inc.
Contingencies and Commitments [Line Items]
Research funding per year under research collaboration and funding agreement					$ 1,000,000												$ 1,100,000
Research funding period					3 years
Research funding period, renewable option					3 years
Research funding agreement exclusive license upfront payment					$ 100,000
Research funding agreement exclusive license maximum development and regulatory milestone payments					8,100,000
Research funding agreement license maximum commercialization milestone payments					$ 92,500,000
Cytos \| Arbutus Inc.
Contingencies and Commitments [Line Items]
Number of series of compounds \| compound_series																		6
Development and regulatory milestones payment per licensed compound series, maximum																		$ 67,000,000
Sales performance milestones payment per licensed product, maximum																		$ 110,000,000
Marqibo
Contingencies and Commitments [Line Items]
Royalty revenue							$ 50,000	$ 40,000	$ 136,000	$ 159,000
Royalty payable							3,000	$ 4,000	3,000	$ 4,000				$ 3,000
Royalties paid or accrued									15,000
Contractual obligation							$ 2,808,000		$ 2,808,000					$ 2,808,000		CAD 3,683
Laboratory facilities and office space
Contingencies and Commitments [Line Items]
Area of property (in sq ft) \| ft²	35
Term of lease contract	10 years 7 months 6 days
Number of lease renewal options \| renewal_term	2
Length of lease renewal term	5 years
Estimated total leased facility commitment	$ 6,900,000