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Arcturus Therapeutics
Arcturus Therapeutics (ARCT) investor relations material
Arcturus Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary3 Mar, 2026
Executive summary
Advanced ARCT-032 (CF) to a 12-week phase II study starting H1 2026, with dosing for up to 20 patients and optimized design for stable baseline and reproducible endpoints.
ARCT-810 (OTC deficiency) expanded to address both adult and pediatric populations, with regulatory meetings scheduled for H1 2026 to clarify pivotal trial design.
KOSTAIVE COVID-19 vaccine approved in the UK for adults in January 2026, but US commercialization delayed due to regulatory environment.
Durable immune response and safety demonstrated for BARDA-funded pandemic influenza vaccine candidate in phase I.
Strategic focus on rare disease programs and disciplined financial management extended cash runway into Q2 2028.
Financial highlights
Fiscal year 2025 revenue was $82.0 million, down $70.3 million year-over-year, mainly due to lower CSL collaboration activity and milestone achievements.
Q4 2025 revenue was $7.2 million, down $15.6 million from Q4 2024.
Annual R&D expenses fell by $83.0 million and quarterly by $19.3 million year-over-year, reflecting transition of LUNAR-COV19 to commercial phase and reduced manufacturing/clinical costs.
Operating expenses for 2025 were $158.3 million, down $89.7 million year-over-year.
Net loss for 2025 was $65.8 million ($2.40 per share), improved from $80.9 million ($3.00 per share) in 2024.
Cash and equivalents were $232.8 million at year-end 2025, down from $293.9 million at end of 2024.
Outlook and guidance
12-week phase II ARCT-032 study to initiate in H1 2026, targeting up to 20 CF patients with Class 1 mutations in US and internationally.
Type C regulatory meetings for ARCT-810 scheduled for H1 2026 to clarify pivotal trial design for both adult and pediatric OTC deficiency populations.
General and administrative expenses expected to decrease slightly over the next 12 months.
Cash runway extended into Q2 2028 through disciplined execution and strategic refocus.
ARCT-032 Phase 2 study design and endpoints
ARCT-810 pivotal study strategy for OTC
Drivers of R&D expense reduction in 2025
CF study: How will stable baselines improve data?
OTC: What clarity is sought from Type C meetings?
CSL collaboration: Update on future of Costave
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Next Arcturus Therapeutics earnings date
Leerink Global Healthcare Conference 202611 Mar, 2026
Arcturus Therapeutics
Next Arcturus Therapeutics earnings date
Leerink Global Healthcare Conference 202611 Mar, 2026
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Frequently asked questions
Arcturus Therapeutics Holdings Inc. is a biotechnology company focused on developing RNA-based therapeutics for the treatment of infectious diseases, rare diseases, and other medical conditions. The company utilizes its proprietary self-amplifying mRNA technology and lipid nanoparticle delivery system to develop vaccines and therapies. Arcturus' pipeline includes treatments for diseases such as COVID-19 and other RNA-based therapies targeting unmet medical needs. The company is headquartered in San Diego, California, and its shares are listed on the NASDAQ.
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