Press release
Arcturus Therapeutics Announces Fourth Quarter 2022 Financial Update and Pipeline Progress
$200 million upfront payment received in December 2022 from CSL collaboration Achieved $90 million in development milestones in March 2023 under CSL
About this update from Arcturus Therapeutics Holdings Inc.
[{"type":"text","content":"\n$200 million upfront payment received in December 2022 from CSL collaboration\n\nAchieved $90 million in development milestones in March 2023 under CSL collaboration\n\nARCT-154 Phase 3 COVID-19 booster trial enrollment completed in Japan\n\nMultiple patients enrolled in ARCT-810 Phase 2 multiple ascending dose trial for OTC deficiency\n\nARCT-032 Phase 1 Cystic Fibrosis trial initiated and enrollment of first two cohorts successfully completed\n\nInvestor conference call at 4:30 p.m. ET today\n\n SAN DIEGO--(BUSINESS WIRE)--\nArcturus Therapeutics Holdings Inc. (the “Company”, “Arcturus”, Nasdaq: ARCT), a global late-stage clinical messenger RNA medicines company focused on the development of infectious disease vaccines and opportunities within liver and respiratory rare diseases, today announced its financial results for the fourth quarter ended December 31, 2022, and provided corporate updates.\n\n“Arcturus has continued to make remarkable operational and pipeline progress. This was recently exemplified by the completion of the initial objectives with our partnered COVID-19 and Flu vaccine programs with CSL,” said Joseph Payne, President and CEO of Arcturus Therapeutics. “We are also pleased to report the completion of full enrollment ahead of schedule in the Phase 3 study being conducted by Meiji Pharma to evaluate ARCT-154 as a booster vaccine for COVID-19.”\n\n“Within the first four months of our CSL collaboration, we successfully achieved multiple program objectives, triggering $90 million in milestone payments,” said Andrew Sassine, CFO of Arcturus Therapeutics, “Additionally, with the elimination of $33.3 million of non-recourse debt to Singapore, our cash runway now extends into the beginning of 2026.”\n\nRecent Corporate Highlights\n\n\nIn December 2022, the Company received a $200 million upfront payment associated with the exclusive global collaboration and license agreement with CSL Seqirus, for the research, development, manufacture, and commercialization of next generation mRNA vaccines. Arcturus is eligible to receive up to $4.3 billion in potential development and commercial milestones if all products are registered in the licensed fields, 40% profit sharing for COVID-19 vaccines and up to low double-digit royalties on influenza vaccine revenues.\n\n\nArcturus achieved development milestones in March 2023, in...