Arcturus Therapeutics shares jump 30% following Q4 earnings announcement

Arcturus Therapeutics (NASDAQ: ARCT) shares surged 30% today following the company's reported Q4 results, with revenue coming in at $160.3 million, compared to $13.4M in Q4/22. This increase primarily relates to the $200M upfront payment associated with the exclusive global collaboration and license agreement with CSL Seqirus, for the research, development, manufacture, and commercialization of next-generation mRNA vaccines.

The company achieved development milestones in March 2023, including milestones associated with nominating next-generation vaccine candidates, resulting in $90 million invoiced to CSL Seqirus.

The company is eligible to receive up to $4.3 billion in potential development and commercial milestones, subject to registration of all licensed products in the licensed fields, 40% profit sharing for COVID-19 vaccines, and up to low double-digit royalties on influenza vaccine revenues.

“We are also pleased to report the completion of full enrollment ahead of schedule in the Phase 3 study being conducted by Meiji Pharma to evaluate ARCT-154 as a booster vaccine for COVID-19,” said Joseph Payne, President and CEO of Arcturus Therapeutics.

By Davit Kirakosyan

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