Arcturus Therapeutics Stock Jumps On mRNA COVID-19 Vaccine Update
- Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT) reported a Q2 EPS loss of $(2.07), beating the consensus of $(2.14).
- The cash balance totaled $433.6 million. After the end of the quarter, Arcturus received the remaining $30 million of upfront payment from Vinbiocare.
- The company's cash position is sufficient to support operations for more than two years based on the current pipeline.
- In its Q2 release, Arcturus Therapeutics said that preclinical data of its COVID-19 mRNA vaccine candidate, ARCT-154, demonstrated strong neutralizing immunogenicity in non-human primates to the four variants.
- ARCT-154 elicits 14.4 to 25.9-fold higher neutralizing antibody titers than ARCT-021 in non-human primates, including an observed increase of 17.8-fold higher neutralizing antibody titers against the Delta variant.
- Arcturus has advanced ARCT-154 toward multiple clinical development studies.
- The ARCT-154 vaccine targets the D614G spike protein mutation that has become dominant globally.
- Last week, the Vietnam Ministry of Health signed off Arcturus's trial application to advance ARCT-154 targeting variants of concern.
- The company also said that ARCT-021 had been selected by a global entity to be included in a multinational COVID-19 Phase 3 vaccine trial.
- The placebo-controlled study will evaluate a 5-mcg dose of ARCT-021 administered as a single injection regimen. The Phase 3 study will be sponsored and funded by the entity.
- Price Action: ARCT shares are up 24.80% at $60.22 during the premarket session on the last check Tuesday.
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