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Sep 30, 2024
Arcturus Therapeutics Q3 2024 Earnings Report
Reported a net loss with a slight decrease in revenue due to lower milestone achievement from the CSL agreement, offset by KOSTAIVE sales and increased BARDA revenue.
Key Takeaways
Arcturus Therapeutics reported its Q3 2024 financial results, featuring a revenue of $41.7 million and a net loss of $6.9 million, or ($0.26) per diluted share. The company achieved a $25 million commercial milestone with the first sale of KOSTAIVE® in Japan and anticipates another milestone related to potential European approval in the first quarter of 2025. The company's cash runway is expected to extend through the first quarter of fiscal year 2027.
Achieved $25 million commercial milestone with first KOSTAIVE® sale in Japan.
Phase 2 studies for Cystic Fibrosis and OTC Deficiency on track for POC data in first half of 2025.
KOSTAIVE® European CHMP opinion expected in December.
Net loss of $6.9 million, or ($0.26) per diluted share, for Q3 2024.
Forward Guidance
Arcturus anticipates another milestone related to potential European approval in the first quarter of 2025 and expects its cash runway to extend through the first quarter of fiscal year 2027.
Positive Outlook
- Potential European approval milestone expected in Q1 2025.
- Cash runway extends through Q1 2027.
- Phase 2 studies for Cystic Fibrosis and OTC Deficiency on track for POC data in first half of 2025.
- KOSTAIVE® European CHMP opinion expected in December.
- Positive Phase 3 results support KOSTAIVE® U.S. BLA filing in H1 2025
Historical Earnings Impact
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