Arcturus Therapeutics (ARCT)
NASDAQ:ARCT
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Arcturus Therapeutics
(NASDAQ:ARCT)
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Rating:51Neutral
Price Target:
$7.00
▼(-20.90% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (shrinking revenue, large losses, and ongoing cash burn). Offsetting this are moderately constructive technical momentum indicators and a relatively supportive earnings call driven by pipeline/regulatory progress and stated liquidity runway, while valuation appears only middling given current fundamentals.
Positive Factors
Proprietary inhaled mRNA platform
Arcturus’ LUNAR delivery and mRNA purification enabled repeat inhaled dosing beyond one month without steroid co‑treatment. This technological differentiation supports a durable competitive advantage in pulmonary mRNA delivery, improving chances for clinical success and first‑mover leadership in this niche.
Negative Factors
Contracting revenue & profitability
Material revenue decline and deeply negative net margins reflect a structural shift from prior profit to sustained loss-making operations. This weak top‑line base pressures internal funding capacity, forces prioritization of programs, and increases reliance on milestone or partner payments to sustain R&D and commercial development.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary inhaled mRNA platform
Arcturus’ LUNAR delivery and mRNA purification enabled repeat inhaled dosing beyond one month without steroid co‑treatment. This technological differentiation supports a durable competitive advantage in pulmonary mRNA delivery, improving chances for clinical success and first‑mover leadership in this niche.
Read all positive factors
Arcturus Therapeutics (ARCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$199.81M
Dividend YieldN/A
Average Volume (3M)829.62K
Price to Earnings (P/E)―
Beta (1Y)2.26
Revenue Growth-67.73%
EPS Growth-11.57%
CountryUS
Employees174
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.83
Shares Outstanding28,423,069
10 Day Avg. Volume934,920
30 Day Avg. Volume829,622
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)0.78
Price to Sales (P/S)2.50
P/FCF Ratio-2.26
Enterprise Value/Market Cap0.01
Enterprise Value/Revenue0.05
Enterprise Value/Gross Profit0.05
Enterprise Value/Ebitda-0.03
Forecast
1Y Price Target
$18.50Price Target Upside109.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)-4.02
Revenue Forecast (FY)$17.05M
Arcturus Therapeutics Business Overview & Revenue Model
Company Description
Arcturus Therapeutics Holdings Inc., an RNA medicines company, focuses on the development of vaccines for infectious, and liver and respiratory rare diseases in the United States. The company's development programs comprise LUNAR-OTC development p...
How the Company Makes Money
Arcturus primarily makes money through (1) collaboration and licensing revenue and (2) government or third-party funding tied to research and development activities; it may also generate (3) product revenue where it has commercialized products, an...
Arcturus Therapeutics Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful clinical and regulatory progress — notably initiation of a 12‑week ARCT‑032 Phase II with tolerable repeat inhaled dosing and FDA clarity on ARCT‑810 pediatric path — supported by a strengthened leadership team and a cash runway through mid‑2028. Offsetting these positives were a material year‑over‑year revenue decline ($27.3M), a quarter‑over‑quarter cash decrease (~$19.4M, 8.3%), program‑specific manufacturing cost increases, and uncertainties tied to a small open‑label CF study and broader modality risk. On balance, the advancement of key programs and regulatory alignment outweigh the financial and operational headwinds in the near term.Positive Updates
ARCT-032 (Inhaled mRNA CF) Advancement to 12‑Week Phase II
Initiated enrollment in a 12-week open-label Phase II in Q1 2026; study already >1 month of dosing and moving beyond the 28‑day exposures seen previously. Cohort 4 permits 10 mg (initiated) or 15 mg daily dosing; protocol set for up to ~20 subjects with expanded sites outside the U.S. Endpoints include percent predicted FEV1, lung clearance index (LCI), HRCT imaging and QoL measures.
Negative Updates
Quarterly Revenue Decline Year‑Over‑Year
Quarterly revenue declined by $27.3 million year‑over‑year, driven primarily by reduced revenue from the CSL collaboration as the company refocuses on rare disease clinical programs.
Read all updates
Q1-2026 Updates
Positive
Negative
ARCT-032 (Inhaled mRNA CF) Advancement to 12‑Week Phase II
Initiated enrollment in a 12-week open-label Phase II in Q1 2026; study already >1 month of dosing and moving beyond the 28‑day exposures seen previously. Cohort 4 permits 10 mg (initiated) or 15 mg daily dosing; protocol set for up to ~20 subjects with expanded sites outside the U.S. Endpoints include percent predicted FEV1, lung clearance index (LCI), HRCT imaging and QoL measures.
Read all positive updates
Company Guidance
On the call management gave financial, clinical and regulatory guidance with specific metrics: cash, cash equivalents and restricted cash totaled $213.4M as of March 31, 2026 (down from $232.8M at 12/31/25) and the company says it has a cash runway extending beyond Q2 2028; quarterly revenue fell $27.3M YoY, R&D expense declined $13.4M YoY and G&A declined $1.8M YoY. Clinically, ARCT‑032 (inhaled CF) began a 12‑week open‑label Phase II in Q1 (protocol up to 20 subjects; ~13 subjects enrolled across three cohorts in 2025), with Cohort 3 dose escalation from 5→10→15 mg daily for 28 days and Cohort 4 initiating at 10 mg daily with the ability to dose to 15 mg and already beyond one month of dosing; endpoints include percent‑predicted FEV1, lung clearance index (LCI), HRCT (pre/post) and validated QoL measures. For ARCT‑810 (OTC) two Type C meetings with the FDA gave clear direction toward a pivotal pediatric path, the company is collecting additional exploratory data (including 0.3 and 0.5 dosing groups) and plans an end‑of‑Phase‑II meeting in H2 2026. Commercially, partner Meiji is manufacturing KOSTAIVE for the 2026–2027 season in a 2‑dose vial and will provide all commercial guidance.Arcturus Therapeutics Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.35M | 67.22M | 138.39M | 157.75M | 205.75M | 12.36M |
| Gross Profit | 41.35M | 64.20M | 138.39M | 157.75M | 205.75M | 12.36M |
| EBITDA | -72.78M | -71.93M | -77.40M | -24.16M | 13.70M | -201.66M |
| Net Income | -78.67M | -65.78M | -80.94M | -29.73M | 9.35M | -203.67M |
Balance Sheet | ||||||
| Total Assets | 245.41M | 271.15M | 344.07M | 429.40M | 450.39M | 392.81M |
| Cash, Cash Equivalents and Short-Term Investments | 211.38M | 230.91M | 237.03M | 292.00M | 391.88M | 370.49M |
| Total Debt | 19.68M | 25.00M | 28.55M | 30.22M | 94.75M | 69.15M |
| Total Liabilities | 54.05M | 57.16M | 103.09M | 150.89M | 180.07M | 164.60M |
| Stockholders Equity | 191.36M | 213.99M | 240.98M | 278.51M | 270.31M | 228.21M |
Cash Flow | ||||||
| Free Cash Flow | -58.89M | -74.27M | -60.40M | -21.00M | 24.27M | -138.45M |
| Operating Cash Flow | -58.57M | -74.27M | -59.75M | -18.10M | 31.99M | -135.04M |
| Investing Cash Flow | -59.66K | -230.00K | -648.00K | -2.90M | -7.73M | -3.41M |
| Financing Cash Flow | -1.80M | 13.38M | 5.42M | -24.09M | -2.86M | 48.02M |
Arcturus Therapeutics Technical Analysis
Negative
8.85
Price Trends
7.93
Negative
7.62
Negative
10.67
Negative
Market Momentum
-0.23
Positive
30.77
Neutral
2.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARCT, the sentiment is Negative. The current price of 8.85 is above the 20-day moving average (MA) of 8.35, above the 50-day MA of 7.93, and below the 200-day MA of 10.67, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 30.77 is Neutral, neither overbought nor oversold. The STOCH value of 2.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ARCT.
Arcturus Therapeutics Risk Analysis
Arcturus Therapeutics disclosed 63 risk factors in its most recent earnings report. Arcturus Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Arcturus Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $529.34M | 14.38 | 147.03% | ― | 47.61% | 854.73% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $199.81M | -2.03 | -36.55% | ― | -67.73% | -11.57% | |
49 Neutral | $566.50M | -2.94 | -44.39% | ― | -79.06% | -397.92% | |
45 Neutral | $3.19B | -6.71 | -34.48% | ― | ― | -49.51% | |
44 Neutral | $1.13B | -7.22 | -45.95% | ― | ― | -3.83% | |
42 Neutral | $329.56M | -13.46 | -39.75% | ― | -100.00% | -2.72% |
* Healthcare Sector Average
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Arcturus Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Arcturus Therapeutics Reports Q1 Results, Advances Rare Disease Pipeline
Positive
May 7, 2026
Arcturus Therapeutics named veteran biotech finance executive Dennis Mulroy as Chief Financial Officer effective May 1, 2026, with a compensation package including a $520,000 base salary, performance-based bonus eligibility and stock options vesti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.