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Mar 31, 2025
Arcturus Therapeutics Q1 2025 Earnings Report
Announced financial results for the first quarter ended March 31, 2025 and provided corporate updates.
Key Takeaways
Arcturus Therapeutics reported a decrease in revenue and a smaller net loss for the first quarter of 2025 compared to the same period in 2024. The company is prioritizing its mRNA therapeutics pipeline, which is expected to extend the cash runway into 2028.
Total revenue for Q1 2025 was $29.4 million, a decrease from $38.0 million in Q1 2024.
Net loss for Q1 2025 was $14.1 million, a significant improvement from a net loss of $26.8 million in Q1 2024.
Research and development expenses decreased to $34.9 million in Q1 2025 from $53.6 million in Q1 2024.
Cash, cash equivalents, and restricted cash totaled $273.8 million as of March 31, 2025, and the cash runway is projected into 2028.
Revenue by Segment
Forward Guidance
Arcturus Therapeutics expects to report key clinical data for its CF and OTC programs in mid-2025 and Q2 2025, respectively. The company also anticipates further decreases in quarterly research and development expenses in the second half of 2025 and a slight decrease in general and administrative expenses over the next twelve months. The cash runway is expected to extend into 2028.
Positive Outlook
- Expects Phase 2 interim data from the first two cohorts of the ARCT-032 (CF) study in mid-2025.
- Expects to complete enrollment for the ARCT-032 (CF) Phase 2 study by year end.
- Expects Phase 2 interim data from the ARCT-810 (OTC) study in Q2 2025.
- Received U.S. FDA Fast Track Designation for ARCT-2304, an sa-mRNA vaccine candidate for Pandemic Influenza A Virus H5N1.
- Cash runway is expected to extend into 2028.
Challenges Ahead
- Research and development expenses, while decreasing, are still a significant operating cost.
- Transition of KOSTAIVE to the commercial phase led to lower milestone revenues in Q1 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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