Press release
Arcturus Therapeutics Reports Fourth Quarter and Year End 2019 Financial Results
IND Filed for Flagship Program ARCT-810Coronavirus Vaccine Program InitiatedInvestor Conference Call at 4:30 pm ET Today SAN DIEGO, Calif., March 11, 2020
About this update from Arcturus Therapeutics Holdings Inc.
[{"type":"text","content":"IND Filed for Flagship Program ARCT-810Coronavirus Vaccine Program InitiatedInvestor Conference Call at 4:30 pm ET Today\n SAN DIEGO, Calif., March 11, 2020 (GLOBE NEWSWIRE) -- Arcturus Therapeutics (the “Company”, NASDAQ: ARCT), a leading messenger RNA medicines company focused on the discovery, development and commercialization of therapeutics for rare diseases and vaccines, today reported its financial results for the quarter and year ended December 31, 2019, and provided a corporate update. Recent Highlights Filed IND for ARCT-810 with the U.S. Food and Drug Administration (FDA)Entered into fully funded collaboration to develop a vaccine for coronavirus (COVID-19) using Arcturus’ proprietary STARR (Self-Transcribing And Replicating RNA) Technology™ “In 2019, we made progress across all aspects of our business, and continued to establish Arcturus as one of the leaders in the development of mRNA medicines,” said Joseph E. Payne, President & CEO of Arcturus Therapeutics. “Today, we achieved one of our primary goals for 2020, by filing the Investigational New Drug (IND) application for ARCT-810, a potential treatment for ornithine transcarbamylase (OTC) deficiency.” Payne added, “The World Health Organization hailed Singapore as an exemplar for other countries in dealing with the coronavirus, as such, the Arcturus team is honored to work with Duke-NUS as we develop a COVID-19 vaccine. The coronavirus vaccine is based on Arcturus’ STARR Technology™, and if successful, could be used to vaccinate millions of people.” Financial Results for the Quarter and Year ended December 31, 2019Revenues in conjunction with strategic alliances and collaborations: Arcturus’s primary source of revenues is currently from license fees and collaborative payments received from research and development arrangements with pharmaceutical and biotechnology partners. For the fourth quarter of 2019, the Company reported revenue of $3.0 million, compared with $7.6 million during fourth quarter of 2018. For the year ended December 31, 2019, Arcturus reported revenue of $20.8 million, compared with revenue of $15.8 million during the year ended December 31, 2018. Operating expenses: Total operating expenses for the fourth quarter of 2019 were $13.8 million compared with $8.3 million for the same period of 2018. Total operating expenses for the year ended Decemb...