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Arcturus Therapeutics Holdings Inc. (ARCT-0.55%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing includes financial results for the year, reporting total revenue of $152.3 million, a decrease from $166.8 million in the previous year. This decrease was primarily due to a reduction in collaboration revenue.
The company reported a net loss of $80.9 million for the year, compared to a net loss of $29.7 million in 2023. The increase in net loss was attributed to higher operating expenses and lower milestone achievements.
Arcturus highlighted its collaboration with CSL Seqirus, which resulted in $138.4 million in collaboration revenue for the year. The company achieved $72.2 million in development and regulatory milestones under this agreement.
Research and development expenses were $195.2 million, reflecting increased payroll costs and progress in the BARDA, LUNAR-CF, and LUNAR-FLU programs.
The company ended the year with cash and cash equivalents of $237.0 million, and a total of $293.9 million including restricted cash.
Arcturus continues to focus on the development of its mRNA-based vaccines and therapeutics, with significant efforts in its COVID-19 and influenza vaccine programs.
The company also reported on its financial position, with total assets of $344.1 million and total liabilities of $103.1 million as of December 31, 2024.
Arcturus' collaboration with CSL Seqirus remains a key component of its strategy, with ongoing research and development activities and potential for future milestone and royalty payments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Arcturus Therapeutics Holdings Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.