Arcturus Therapeutics (ARCT) 5 Aug 24 2024 Q2 Earnings call transcript
AInvestTuesday, Aug 6, 2024 7:19 pm ET
2min read
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Arcturus Therapeutics recently held its Second Quarter 2024 Earnings Call, where the company provided updates on its vaccine and therapeutics pipeline, financial performance, and future outlook. The call was led by Joe Payne, the President and CEO, and Andy Sassine, the CFO, along with Dr. Pad Chivukula, the CFO and COO, who participated in the Q&A session.

Strategic Updates and Financial Performance

The company reported a significant increase in revenue for the second quarter, driven primarily by the CSL agreement and the progress in the pandemic flu program. The financial performance is a testament to the company's strategic focus on its vaccine pipeline, particularly its self-amplifying mRNA COVID-19 vaccine, Kostaive. The company is on track for the Q4 commercial launch in Japan, with regulatory submissions underway to support the use of the updated Kostaive JN.1 COVID-19 vaccine for the upcoming 2024 and 2025 seasons.

Arcturus also announced the submission of an IND application for a Phase II multiple ascending dose study of ARCT-032, an inhaled messenger RNA therapeutic candidate for cystic fibrosis. The company highlighted its commitment to addressing unmet medical needs in this area, with a focus on modulator-ineligible patients.

Pipeline Progress and Future Outlook

The call also highlighted the company's progress on several other pipeline programs, including the ARCT-810 program for Ornithine Transcarbamylase (OTC) deficiency and the ARCT-2304 pandemic flu study. The ARCT-810 Phase II study in the EU and the United Kingdom has completed enrollment, with interim data to be available in the fourth quarter. The company is expanding the Phase II clinical program by enrolling OTC deficiency patients in the United States, with a focus on younger and more severe patients.

The company also provided updates on the ARCT-2138 program for seasonal influenza and the ARCT-2301 bivalent COVID-19 vaccine, which demonstrates a more broad and durable immune response compared to existing vaccines. The Phase III study for ARCT-2301 is ongoing, with 12-month persistence results to be presented at the 12th Options Conference in Brisbane, Australia.

Strategic Appointments and Partnerships

Arcturus also announced the appointment of Dr. Moncef Slaoui to its Board of Directors. Dr. Slaoui brings extensive experience in vaccine development and public health, having previously served as the Chief Scientific Adviser for Operation Warp Speed and a member of the President's Council of Advisors on Science and Technology. His expertise will be invaluable in guiding Arcturus' strategic product innovation, development, and commercialization strategies.

Looking Ahead

Arcturus' financial performance and pipeline updates reflect the company's commitment to innovation and addressing critical health needs. The company's focus on self-amplifying mRNA technology positions it well for future success, particularly in the vaccine market. With several key programs underway, including the commercial launch of Kostaive in Japan, the Phase II study for ARCT-032, and the ongoing Phase III study for ARCT-2301, Arcturus is well-positioned to capitalize on the growing demand for effective and innovative healthcare solutions.

Investors and stakeholders will be closely watching Arcturus' progress in the coming quarters, particularly with the anticipated commercial launch of Kostaive and the continued development of its pipeline programs. Arcturus' commitment to addressing unmet medical needs and leveraging innovative technology is a promising sign for the future of healthcare and biotech.

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