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SAN DIEGO - Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) reported a significant revenue shortfall in the second quarter as the company continues to advance its pipeline of mRNA therapeutics and vaccines. Shares rose 1.7% following the announcement despite the miss.
The clinical-stage biotech company reported a Q2 loss of $0.34 per share, significantly below analyst expectations of $3.21 earnings per share. Revenue came in at $28.3 million, far short of the $191.77 million consensus estimate. The revenue decline of $21.6 million compared to the same period last year was primarily attributed to reduced revenue from the CSL (OTC:CSLLY) collaboration.
"The Company continues to advance and provide meaningful clinical data across our mRNA therapeutics and vaccines pipeline," said Joseph Payne, President & CEO of Arcturus Therapeutics. "We are especially pleased with the recent proof-of-concept in our liver platform based on the positive ARCT-810 interim Phase 2 data and look forward to sharing two cohorts of Phase 2 CF data in September."
Arcturus highlighted several pipeline developments, including the advancement of its cystic fibrosis treatment ARCT-032, which is expected to complete enrollment by year-end 2025. The company plans to present interim Phase 2 data from the first nine participants in September. Additionally, positive interim data was reported from two Phase 2 studies for ARCT-810, its treatment for OTC deficiency.
The company’s cash position stood at $253.4 million as of June 30, 2025, down from $293.9 million at the end of 2024. Arcturus maintains that its current cash runway extends into 2028.
Operating expenses decreased to $39.9 million for the quarter compared to $71.0 million in the same period last year, primarily due to lower manufacturing costs for several programs and reduced clinical trial expenses.
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