Arcturus Therapeutics Reports 2024 Financial Results and Pipeline Progress

Arcturus Therapeutics ( (ARCT) ) has released its Q4 earnings. Here is a breakdown of the information Arcturus Therapeutics presented to its investors.

Arcturus Therapeutics Holdings Inc., based in San Diego, California, is a commercial mRNA medicines and vaccines company known for its pioneering work in self-amplifying messenger RNA (sa-mRNA) technology, particularly in developing vaccines for infectious diseases and treatments for rare liver and respiratory diseases.

In its latest financial update for the fourth quarter and fiscal year 2024, Arcturus Therapeutics reported a decrease in revenue compared to the previous year, alongside significant advancements in its clinical pipeline. The company highlighted the progress of its key therapeutic candidates, ARCT-032 for cystic fibrosis and ARCT-810 for ornithine transcarbamylase deficiency, with interim data expected in Q2 2025. Additionally, the company received European Commission approval for its COVID-19 vaccine, KOSTAIVE®.

Key financial metrics revealed a decline in revenue to $152.3 million for the year, down from $166.8 million in 2023, primarily due to lower milestone achievements. Operating expenses increased slightly, driven by higher clinical trial costs. The company reported a net loss of $80.9 million for the year, compared to a net loss of $29.7 million in 2023. Despite these challenges, Arcturus maintains a strong cash position with $293.9 million in cash and equivalents, ensuring a cash runway until the end of Q1 2027.

Strategically, Arcturus is focused on advancing its pipeline, with ongoing collaborations and regulatory filings in progress. The company is preparing for KOSTAIVE® regulatory submissions in the U.S. and U.K. and is expanding its manufacturing capabilities in Japan through its joint venture, ARCALIS.

Looking ahead, Arcturus remains committed to its strategic initiatives and anticipates continued progress in its clinical programs and regulatory efforts. The management is optimistic about the potential of its mRNA platforms to address unmet medical needs and drive future growth.