Arcturus Therapeutics ( (ARCT) ) has released its Q3 earnings. Here is a breakdown of the information Arcturus Therapeutics presented to its investors.
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Arcturus Therapeutics Holdings Inc., based in San Diego, is a commercial mRNA medicines company specializing in the development of vaccines for infectious diseases and therapeutics for liver and respiratory rare diseases. It leverages advanced technologies such as LUNAR® lipid-mediated delivery and STARR® mRNA Technology to develop its products.
In its third quarter of 2024 earnings report, Arcturus announced key achievements including the first commercial sale of its COVID-19 vaccine, KOSTAIVE®, in Japan, which triggered a $25 million milestone. The company is also on track with its Phase 2 studies for cystic fibrosis and OTC deficiency, with proof-of-concept data anticipated in the first half of 2025.
Financially, the company reported a slight decrease in quarterly revenue to $41.7 million compared to the previous year, mainly due to lower CSL milestone achievements. However, this was partially offset by increased revenues from a supply agreement and BARDA. Operating expenses decreased significantly, reflecting reduced manufacturing costs in their COVID program, although R&D expenses remain substantial due to ongoing clinical trials.
Despite a net loss of $6.9 million for the quarter, the company maintains a strong cash position with $294.1 million in cash and equivalents, providing a cash runway through the first quarter of fiscal year 2027. Arcturus anticipates continued milestone payments as its collaboration with CSL progresses.
Looking ahead, Arcturus remains focused on advancing its mRNA therapeutic programs and expects further regulatory milestones, including potential European approval of KOSTAIVE® in early 2025. The company continues to prioritize innovation and strategic partnerships to expand its footprint in the RNA therapeutics market.
