Q4 2024 Arcturus Therapeutics Holdings Inc Earnings Call Transcript
Key Points
- Arcturus Therapeutics Holdings Inc (ARCT) received European Commission approval for KOSTAIVE, the world's first approved self-amplifying mRNA COVID-19 vaccine.
- The company is progressing with its STARR self-amplifying mRNA platform pipeline in other infectious disease targets, including a Phase 1 study for a pandemic influenza vaccine candidate.
- Arcturus Therapeutics Holdings Inc (ARCT) has initiated a Phase 2 study for ARCT-032, a messenger RNA therapeutic candidate for cystic fibrosis, with interim data expected by the end of Q2 2025.
- The company has a strong financial position with cash and cash equivalents of $293.9 million as of December 31, 2024, and a cash runway expected to extend until the end of the first quarter of 2027.
- Arcturus Therapeutics Holdings Inc (ARCT) achieved a total of approximately $473.1 million in upfront payments and milestones from CSL as of December 31, 2024.
- Revenues for the year ended December 31, 2024, decreased by $14.5 million compared to the previous year, primarily due to lower milestone achievements from the CSL agreement.
- The company reported a net loss of approximately $80.9 million for the year ended December 31, 2024, compared to a net loss of $29.7 million for the previous year.
- Total operating expenses increased to $248 million for the year ended December 31, 2024, compared to $245 million for the previous year.
- Research and development expenses increased due to higher clinical trial costs associated with the OTC and CF programs, as well as the COVID-19 and LUNAR-FLU programs.
- The company anticipates an increase in cash burn over the next two years due to the progression of CF and OTC programs through their respective Phase 2 trials.
Thank you for holding, ladies and gentlemen. We thank you for your patience and ask that you please continue to hold.
Good day, everyone, and welcome to Arcturus Therapeutics fourth and full-year 2024 earnings call. (Operator Instructions) Please note, today's call will be recorded (Operator Instructions)
It is now my pleasure to turn the conference over to Neda Safarzadeh, Vice President and Head of Investor Relations, Public Relations, and Marketing. Neda, please go ahead.
Thank you, operator. Good afternoon, and welcome to Arcturus Therapeutics quarterly financial update and pipeline progress call. Today's call will be led by Joe Payne, our President and CEO; and Andy Sassine, our CFO. Dr. Pad Chivukula, our CSO and COO, will join them for the Q&A session.
Before we begin, I would like to remind everyone that the statements made during this call regarding matters that are not historical facts
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