The earnings call presented a generally positive outlook with significant progress in key therapeutic programs, financial stability, and advancements in regulatory processes. Despite the decrease in revenue, the company's strategic restructuring and strong financial position, along with promising clinical trial results, contribute to an optimistic future outlook.

Company Guidance

During the Arcturus Therapeutics Second Quarter 2025 Earnings Call, the company provided extensive guidance on their pipeline progress, emphasizing several key metrics. The ARCT-032 messenger RNA therapeutic for Cystic Fibrosis is advancing with a Phase II study involving daily inhaled treatments over 28 days. The study has completed dosing for three participants at a 5 milligram dose, with a second cohort of six participants at a 10 milligram dose expected to complete by early September. Interim data from these nine participants are anticipated in September 2025. For the ARCT-810 program targeting Ornithine Transcarbamylase deficiency, positive interim data from two Phase II studies showed normalization of glutamine levels and stable ammonia levels post-treatment. The company's COVID-19 vaccine, CoStave, is moving forward with regulatory applications in the U.K., Japan, and the U.S., with anticipated approvals in the coming months. Arcturus reported a net loss of $9.2 million for Q2 2025, with cash reserves of $253.4 million, providing a runway into 2028. They expect further regulatory discussions and Phase III trial initiations for their key programs in the first half of 2026.

Advancement in CF and OTC Programs

Arcturus reported progress in their ARCT-032 CF program, completing enrollment and dosing of the first cohort and progressing to the second cohort. Additionally, the ARCT-810 program for OTC deficiency showed positive interim data from Phase II studies, with improvements in urea cycle function in participants.

Strong Financial Position and Extended Cash Runway

The company reported a reduction in operating expenses from $71 million to $40 million year-over-year and extended their cash runway into 2028 through strategic restructuring and focusing on key programs.

Regulatory Progress for COVID-19 Vaccine

Arcturus' partnered COVID-19 vaccine, CoStave, is moving forward with regulatory filings in the UK, Japan, and the US, with approvals expected in the next year.

Positive Developments in Flu Vaccine

Their next-generation STARR seasonal flu vaccine candidate, ARCT-2138, showed immunogenicity against multiple influenza strains in a Phase I study with no major safety concerns.

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
Nov 05, 2025	2025 (Q3)	-0.76 / -	-0.26	―	―	―
Aug 11, 2025	2025 (Q2)	-0.89 / -0.34	-0.64	46.88% (+0.30)	―
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)	―

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
Aug 11, 2025	$11.39	$14.89	+30.73%
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%

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.