Arcturus Therapeutics (ARCT) Q2 2026 earnings summary

Executive summary

• Advanced phase II studies for ARCT-032 (cystic fibrosis) with ongoing enrollment in the US, Israel, and Turkey; phase III decision expected Q4 2026.

• Completed enrollment and dosing for ARCT-810 (OTC deficiency) phase II; data and regulatory update anticipated Q3 2026.

• Regained global rights to KOSTAIVE® and the infectious disease vaccine portfolio after terminating the CSL Seqirus collaboration, receiving $12M cash and release from $16M in liabilities.

• Strategic partnership with Thermo Fisher for ARCT-032 clinical development and commercial manufacturing, with up to $40M in services.

• Focused on mRNA therapeutics for rare liver and respiratory diseases, leveraging regained vaccine assets for new commercialization and partnering opportunities.

Financial highlights

• Cash and cash equivalents were $191.5M as of June 30, 2026, down from $230.9M at year-end 2025.

• Revenue was $3M for Q2 and $5M for H1 2026, down 90% year-over-year due to lower CSL collaboration revenue.

• R&D expenses decreased to $17.5M for Q2 and $39M for H1 2026, down from $29.6M and $64.5M year-over-year.

• G&A expenses were $11M for Q2 and $20.5M for H1 2026, relatively stable year-over-year, with a slight increase due to legal fees.

• Net loss for Q2 2026 was $23.8M ($0.84 per share), compared to $9.2M ($0.34 per share) in Q2 2025.

Outlook and guidance

• Decision to advance ARCT-032 to phase III expected in Q4 2026, with Thermo Fisher support.

• ARCT-810 phase II data and regulatory path update anticipated in Q3 2026.

• Cash runway extends over 2.5 years, through year-end 2028, supporting rare disease pipeline advancement.

• Deferred revenue of $5.2M from CSL Seqirus expected to be recognized in Q3 2026.