Arcturus Therapeutics
Develops mRNA medicines for rare diseases and a CSL-partnered COVID-19 vaccine.
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Profile
Develops mRNA medicines through LUNAR delivery and STARR self-amplifying mRNA technology, targeting cystic fibrosis and ornithine transcarbamylase deficiency; KOSTAIVE is commercialized through CSL Seqirus. Revenue is centered on collaboration and grant arrangements rather than an internally marketed product line.
Develops mRNA medicines through its LUNAR lipid-delivery and STARR self-amplifying mRNA platforms. Its therapeutics pipeline includes LUNAR-CF (ARCT-032), a Phase 2 candidate for cystic fibrosis, and LUNAR-OTC (ARCT-810) for ornithine transcarbamylase deficiency.
The vaccine franchise centers on KOSTAIVE (ARCT-154), a self-amplifying mRNA COVID-19 vaccine developed with CSL Seqirus; it was marketed in Japan and received European Commission marketing authorization. CSL holds global collaboration rights, while ARCALIS is the company's Japanese mRNA-manufacturing joint venture.
The operating model combines internal rare-disease development with vaccine collaboration and grant revenue. Its progress therefore depends on clinical development and the CSL partnership.
Company facts
Key statistics
Year to date +143% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Mar 18, 2026 | B. Riley Securities | Upgrade | Neutral | Buy | ||
| Mar 4, 2026 | Piper Sandler | Reiterate | Overweight | $140 | $25 | |
| Jan 22, 2026 | Roth Capital | Target | $20 | |||
| Oct 24, 2025 | HC Wainwright & Co. | Downgrade | Buy | Neutral | ||
| Oct 23, 2025 | Citigroup | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$1.00 | −$0.84 | +15.7% | $3.1M | $3.0M | −4.8% | +21.87% |
| May 7, 2026Q1 FY26 | −$1.03 | −$0.95 | +7.9% | $6.3M | $2.1M | −67.3% | +3.60% |
| Mar 3, 2026Q4 FY25 | −$0.92 | −$1.03 | −12.0% | $15.9M | $7.2M | −54.7% | −4.17% |
| Nov 10, 2025Q3 FY25 | −$0.80 | −$0.49 | +38.7% | $16.0M | $17.2M | +7.0% | −1.25% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $29.4M | $24.5M | $17.2M | $3.1M | $610.0K | $3.0M | |
| Gross profit | $29.4M | $24.5M | $13.8M | $3.1M | −$48.0K | $3.0M | |
| Operating income | −$16.8M | −$11.6M | −$16.5M | −$31.3M | −$29.8M | −$25.5M | |
| Net income | −$14.1M | −$9.2M | −$13.4M | −$29.1M | −$27.0M | −$23.8M | |
| Diluted EPS | −$0.52 | −$0.34 | −$0.49 | −$1.05 | −$0.95 | −$0.84 | |
| Gross margin | 100.0% | 100.0% | 80.5% | 100.0% | -7.9% | 100.0% | |
| Operating margin | -57.3% | -47.4% | -96.3% | -1,016.1% | -4,882.0% | -863.3% |
Fiscal years (4-quarter sums)FY21 $12.4M · FY22 $206.0M · FY23 $159.3M · FY24 $138.4M · FY25 $74.1M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $191.5M · Total debt $22.9M · Total assets $224.3M · Shareholders' equity $171.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 28.42M · Float 26.15M · 92.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Federated Hermes, Inc. | 3.30M | 11.62% | 13F | Aug 12, 2026 |
| Ark Investment Management LLC | 2.90M | 10.21% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 2.61M | 9.20% | 13F | Aug 7, 2026 |
| Sumitomo Mitsui Trust Group, Inc. | 1.96M | 6.91% | 13F | Jul 30, 2026 |
| Nikko Asset Management Americas, Inc. | 1.96M | 6.90% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Vertex Pharmaceuticals
Dominant cystic-fibrosis therapy provider with genetic-medicine R&D
- Moderna
mRNA-vaccine company selling Spikevax and mNEXSPIKE
- Pfizer
COMIRNATY co-developer and commercial vaccine leader
- Ultragenyx Pharmaceutical
Rare-disease developer advancing an OTC gene-therapy program
- Sionna Therapeutics
CFTR-modulator developer with clinical NBD1 stabilizers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arcturus Therapeutics | $15.10 | −0.59% | $431.7M | — | — | 18.1 | −87.9% |
| Vertex Pharmaceuticals | $540.78 | −0.17% | $137.48B | 31.5 | 27.8 | 10.9 | +12.5% |
| Moderna | $136.53 | −1.06% | $54.75B | — | — | 24.6 | +2.1% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Ultragenyx Pharmaceutical | $25.68 | +0.27% | $2.52B | — | — | 3.5 | +28.5% |
| Sionna Therapeutics | $5.89 | +0.44% | $265.0M | — | — | — | — |
| Median | 34.2 | 18.9 | 7.2 | +7.5% |