The earnings call reflected a balanced outlook, with significant pipeline advancements and strategic focus on mRNA therapeutics leading to an extended cash runway and reduced expenses. However, the revenue decline and net loss present financial challenges. The EU approval of the KOSTAIVE vaccine is a notable achievement, despite conservative expectations for U.S. milestones.

Company Guidance -

Q2 2025

During the first quarter of 2025 earnings call, Arcturus Therapeutics provided guidance on several metrics across its pipeline and financial status. The company emphasized its mRNA therapeutics pipeline, specifically focusing on ARCT-032 for cystic fibrosis and ARCT-810 for OTC deficiency. ARCT-032 is in an open-label Phase 2 study, with completion of enrollment expected by year-end and interim data for the first two cohorts anticipated by mid-2025. For ARCT-810, interim Phase 2 data is expected in Q2 2025, with biomarkers like glutamine and a 15N ureagenesis assay being utilized. Financially, Arcturus reported Q1 2025 revenue of $29.4 million, a decrease from $38 million in the same period of 2024, and a net loss of $14.1 million. The company extended its cash runway to Q1 2028 by focusing R&D expenditures on CF and OTC programs. It also highlighted EU approval of the KOSTAIVE COVID-19 vaccine and anticipated filings in the UK and US later in 2025, with no immediate milestone payments expected from these approvals.

Pipeline Advancements

Arcturus Therapeutics is progressing with its mRNA therapeutics pipeline, including ARCT-032 for cystic fibrosis and ARCT-810 for OTC deficiency, with ongoing Phase 2 studies showing no safety or tolerability issues.

Strategic Focus and Financial Stability

The company has strategically decided to focus resources on mRNA therapeutics, extending its cash runway until the first quarter of 2028 despite a challenging market environment.

EU Approval of KOSTAIVE Vaccine

Arcturus received EU approval for its self-amplifying mRNA COVID-19 vaccine, KOSTAIVE, and an initial milestone payment from CSL.

FDA Fast Track Designation

The company received FDA Fast Track designation for ARCT-2304, its sa-mRNA vaccine candidate for Pandemic Influenza A (H5N1).

Reduction in Operating Expenses

Research and development expenses decreased by $18.7 million year-over-year, and general and administrative expenses decreased by $3.6 million year-over-year.

Arcturus Therapeutics (ARCT) Earnings, Revenues Date & History

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ARCT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 11, 2025	2025 (Q2)	-0.90 / -	-0.64	―	―	―
May 12, 2025	2025 (Q1)	-1.18 / -0.52	-1	48.00% (+0.48)	―
Mar 06, 2025	2024 (Q4)	-0.55 / -1.11	-0.32	-246.88% (-0.79)
Nov 07, 2024	2024 (Q3)	-1.22 / -0.26	-0.61	57.38% (+0.35)
Aug 05, 2024	2024 (Q2)	-1.50 / -0.64	-1.98	67.68% (+1.34)
May 08, 2024	2024 (Q1)	-1.23 / -1.00	1.87	-153.48% (-2.87)
Mar 07, 2024	2023 (Q4)	-0.99 / -0.32	4.33	-107.39% (-4.65)	―
Nov 14, 2023	2023 (Q3)	-1.69 / -0.61	-1.33	54.14% (+0.72)	―
Aug 07, 2023	2023 (Q2)	-0.24 / -1.98	-0.82	-141.46% (-1.16)	―
May 09, 2023	2023 (Q1)	0.06 / 1.87	-1.94	196.39% (+3.81)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ARCT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 12, 2025	$11.59	$11.86	+2.33%
Mar 06, 2025	$15.97	$14.55	-8.89%
Nov 07, 2024	$18.74	$19.62	+4.70%
Aug 05, 2024	$19.79	$19.83	+0.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.