Arcturus Therapeutics (NASDAQ:ARCT) saw a 30% surge in its share prices yesterday after reporting Q4 results. The company’s revenue for the quarter was $160.3 million, a significant increase from $13.4 million in Q4/22. The boost in revenue was primarily due to the $200 million upfront payment from CSL Seqirus as part of their exclusive global collaboration and license agreement for next-generation mRNA vaccines.
Arcturus is eligible for potential development and commercial milestones of up to $4.3 billion, with 40% profit sharing for COVID-19 vaccines and up to low double-digit royalties on influenza vaccine revenues.
Joseph Payne, the President and CEO of Arcturus Therapeutics, reported that the Phase 3 study conducted by Meiji Pharma to evaluate ARCT-154 as a booster vaccine for COVID-19 has been fully enrolled ahead of schedule.