Arcturus Therapeutics, a biotechnology company valued at $194.3 million, saw its stock decline 64% last year while the S&P 500 Index gained 16%. The stock has risen 10% so far this year.
The company develops messenger RNA-based medicines and vaccines. It has produced KOSTAIVE, the world's first approved self-amplifying mRNA Covid-19 vaccine. Arcturus continues to work with global partners on vaccines for Covid-19 variants and pandemic influenza.
Interim Phase 2 data released in October for ARCT-032, an inhaled mRNA therapeutic candidate for cystic fibrosis, showed the treatment was generally safe and well tolerated in six adults. High-resolution CT scan analysis using FDA-cleared AI technology indicated reduced mucus burden in four of the six patients.
Arcturus plans to launch a 12-week safety and preliminary efficacy study in up to 20 cystic fibrosis patients in the first half of 2026. The company is also enrolling a third cohort to study a higher 15 mg daily dose over 28 days.
For OTC deficiency, a rare genetic metabolic condition, Arcturus is developing ARCT-810. The company aims to collaborate with regulatory agencies on pivotal trial designs for pediatric and adult populations in the first half of 2026.
In Japan, partner Meiji Seika Pharma issued an enhanced two-dose vial of KOSTAIVE targeting the JN.1 variant XEC in August 2025 after regulatory approval. Additional Phase 3 and Phase 1 trials on Covid-19 and pandemic influenza candidates showed significant immune responses and excellent safety profiles.
Arcturus reported third-quarter revenue of $17.2 million, with a net loss of $13.5 million. The company had $237.3 million in cash, cash equivalents, and restricted cash at the end of the third quarter. Management anticipates the financial runway will extend into 2028.
Wall Street analysts rate ARCT stock a "Moderate Buy." Seven of eleven analysts rate it a "Strong Buy" and four rate it a "Hold." The average target price is $34.14, suggesting potential growth of 404% from current levels. The high target price of $72 proposes upside potential of 963% over the next twelve months.