Arcturus Q1 Revenue $2.1M, Below Consensus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2026
0mins
Reports Q1 revenue $2.1M, consensus $6.9M. "Arcturus continues to advance its rare disease therapeutics portfolio. We have initiated enrollment of our 12-week CF Phase 2 study in the first quarter of 2026, earlier than originally anticipated. We remain committed to advancing our inhaled mRNA therapy for people with CF Class I mutations," said Joseph Payne, President & CEO of Arcturus. "Also, during the first quarter of 2026, we met with the FDA regarding the pediatric clinical development strategy for our OTC deficiency program and we now have a clear path toward initiating a pivotal trial which we will align further at the EOP2 meeting later this year. We welcomed two seasoned C-suite leaders, Alan H. Cohen, MD, Chief Medical Officer and Dennis M. Mulroy, Chief Financial Officer to strengthen the executive team."
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Analyst Views on ARCT
Wall Street analysts forecast ARCT stock price to rise
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 7.350
Low
7.00
Averages
14.00
High
20.00
Current: 7.350
Low
7.00
Averages
14.00
High
20.00
About ARCT
Arcturus Therapeutics Holdings Inc. is a commercial mRNA medicines and vaccines company focused on the development of infectious disease vaccines and opportunities within liver and respiratory rare diseases. The Company with enabling technologies, including LUNAR lipid-mediated delivery, STARR mRNA technology (sa-mRNA) and mRNA drug substances along with drug product manufacturing. It has developed KOSTAIVE, a self-amplifying messenger RNA (sa-mRNA) COVID vaccine. The Company’s pipeline includes RNA therapeutic candidates to potentially treat ornithine transcarbamylase (OTC) deficiency and cystic fibrosis (CF), along with its partnered mRNA vaccine programs for SARS-CoV-2 (COVID-19) and influenza. The Company's versatile RNA therapeutics platforms can be applied to multiple types of nucleic acid medicines, including messenger RNA, small interfering RNA, circular RNA, antisense RNA, self-amplifying RNA, DNA, and gene editing therapeutics.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Arcturus Therapeutics Shares Rise 5.7% Following Collaboration with Thermo Fisher
- Stock Price Surge: Arcturus Therapeutics (ARCT) shares rose 5.7% in the last trading session to close at $7.28, with notable trading volume indicating market optimism about the company's future prospects.
- Strategic Collaboration: The company has entered into a strategic partnership with Thermo Fisher Scientific to support the phase III development and potential commercialization of ARCT-032, with Thermo Fisher providing manufacturing and clinical research services, thereby enhancing ARCT's competitive position in the market.
- Financial Expectations: Arcturus is expected to report a quarterly loss of $1.07 per share, representing a year-over-year decline of 214.7%, with revenues projected at $2.51 million, down 91.1% from the previous year, highlighting significant financial pressures facing the company.
- Market Attention: Despite the consensus EPS estimate remaining unchanged over the past 30 days, the rising interest in Arcturus suggests that investors should closely monitor earnings estimate revisions to assess whether the stock's recent gains can be sustained.
See More
Arcturus Partners with Thermo Fisher to Advance Cystic Fibrosis Therapy
- Partnership Agreement: Arcturus Therapeutics has signed a partnership with Thermo Fisher Scientific to advance ARCT-032, a therapy targeting cystic fibrosis, marking a strategic move in the rare disease treatment landscape.
- Clinical Research Support: Under the agreement, Thermo Fisher will provide its PPD clinical research services to assist Arcturus in conducting a Phase 3 trial for ARCT-032, contingent on positive Phase 2 data, paving the way for future market access.
- Commercial Agreement Established: Arcturus has also entered into a commercial agreement with Thermo Fisher, granting the latter exclusive rights to ARCT-032 pending regulatory approval, enhancing the depth of collaboration in the biopharmaceutical sector.
- Clinical Trial Progress: Currently, ARCT-032 is undergoing mid-stage development, with Arcturus awaiting 12-week data from a Phase 2 open-label trial, which will significantly impact its future market potential.
See More
Arcturus and Thermo Fisher Forge Strategic Manufacturing Agreement
- Strategic Collaboration: Arcturus Therapeutics has entered into a strategic collaboration with Thermo Fisher Scientific to support the Phase 3 development and potential commercialization of ARCT-032, leveraging Thermo Fisher's Accelerator™ Drug Development solutions to integrate manufacturing and clinical research capabilities.
- Clinical Supply and Manufacturing Rights: Under the agreement, Thermo Fisher will provide Phase 3 manufacturing, clinical research, and related services, and if Phase 2 results are positive, Arcturus plans to conduct its Phase 3 program through Thermo Fisher's PPD™ clinical research business, significantly accelerating the drug's path to market.
- Commercialization Potential: Thermo Fisher will receive exclusive commercial manufacturing rights upon regulatory approval of ARCT-032 under a separate commercial agreement, providing robust support for Arcturus's product commercialization and enhancing its market competitiveness.
- Technological Edge: Arcturus focuses on developing mRNA therapies for liver and respiratory rare diseases, holding over 500 patents, and its KOSTAIVE® vaccine is the world's first approved self-amplifying mRNA COVID vaccine, showcasing its innovative capabilities and market potential in the biotechnology sector.
See More
Arcturus Therapeutics Q1 2026 Earnings Call Insights
- Clinical Trial Progress: Arcturus initiated its 12-week Phase II trial for ARCT-032 in Q1 2026, having surpassed one month of dosing, which signifies steady advancement in its rare disease pipeline and is expected to provide crucial support for future clinical data collection.
- Strong Financial Position: As of March 31, 2026, the company reported $213.4 million in cash and cash equivalents, a decrease from $232.8 million on December 31, 2025, primarily due to reduced revenue from CSL collaborations, reflecting a strategic shift towards rare disease clinical programs.
- R&D Expense Control: Quarterly R&D expenses decreased by $13.4 million year-over-year, driven by lower manufacturing costs associated with LUNAR-COVID and BARDA, although increased costs related to LUNAR-OTC partially offset these reductions, demonstrating effective cost management by the company.
- Clear Regulatory Path: Following a meeting with the FDA, management received clear regulatory direction for ARCT-810, with an end-of-Phase II meeting planned for the second half of 2026, indicating a strategic focus on pediatric studies is becoming increasingly defined.
See More
Arcturus Therapeutics Q1 Earnings Analysis
- Earnings Performance: Arcturus Therapeutics reported a Q1 GAAP EPS of -$0.95, beating expectations by $0.04, yet revenue plummeted to $2.06M, down 93% year-over-year, missing estimates by $4.81M, indicating significant operational challenges.
- Cash Position: As of March 31, 2026, the company held $213.4 million in cash and equivalents, down from $232.8 million on December 31, 2025, reflecting pressure on cash management that could impact future R&D investments.
- Market Reaction: The downgrade to a 'Hold' rating due to a shift in the CF program's population focus has diminished market confidence in Arcturus's growth potential, likely putting downward pressure on its stock price.
- Future Outlook: The company plans to launch a 12-week Phase II CF trial in 2026 and anticipates regulatory clarity for ARCT-810, presenting potential new growth opportunities despite the current challenges.
See More
Arcturus Therapeutics Set to Announce Q1 Earnings on May 7
- Earnings Announcement: Arcturus Therapeutics (ARCT) is set to release its Q1 earnings on May 7 after market close, with consensus EPS estimate at -$1.01 and revenue estimate at $6.87 million, reflecting a significant 76.6% year-over-year decline, indicating substantial challenges ahead for the company.
- Historical Performance: Over the past year, ARCT has beaten EPS estimates 100% of the time and revenue estimates 75% of the time, suggesting a degree of financial stability despite current pressures, which may influence investor sentiment.
- Estimate Adjustments: In the last three months, EPS estimates have seen one upward revision and three downward revisions, while revenue estimates have experienced one upward and one downward revision, highlighting market uncertainty regarding the company's future performance.
- Clinical Trial Progress: Arcturus is advancing a 12-week Phase II clinical trial for cystic fibrosis (CF) and expects regulatory clarity for ARCT-810 in 2026, which could provide new growth momentum for the company moving forward.
See More
Arcturus Therapeutics Shares Rise 5.7% Following Collaboration with Thermo Fisher
- Stock Price Surge: Arcturus Therapeutics (ARCT) shares rose 5.7% in the last trading session to close at $7.28, with notable trading volume indicating market optimism about the company's future prospects.
- Strategic Collaboration: The company has entered into a strategic partnership with Thermo Fisher Scientific to support the phase III development and potential commercialization of ARCT-032, with Thermo Fisher providing manufacturing and clinical research services, thereby enhancing ARCT's competitive position in the market.
- Financial Expectations: Arcturus is expected to report a quarterly loss of $1.07 per share, representing a year-over-year decline of 214.7%, with revenues projected at $2.51 million, down 91.1% from the previous year, highlighting significant financial pressures facing the company.
- Market Attention: Despite the consensus EPS estimate remaining unchanged over the past 30 days, the rising interest in Arcturus suggests that investors should closely monitor earnings estimate revisions to assess whether the stock's recent gains can be sustained.
See More
Arcturus Partners with Thermo Fisher to Advance Cystic Fibrosis Therapy
- Partnership Agreement: Arcturus Therapeutics has signed a partnership with Thermo Fisher Scientific to advance ARCT-032, a therapy targeting cystic fibrosis, marking a strategic move in the rare disease treatment landscape.
- Clinical Research Support: Under the agreement, Thermo Fisher will provide its PPD clinical research services to assist Arcturus in conducting a Phase 3 trial for ARCT-032, contingent on positive Phase 2 data, paving the way for future market access.
- Commercial Agreement Established: Arcturus has also entered into a commercial agreement with Thermo Fisher, granting the latter exclusive rights to ARCT-032 pending regulatory approval, enhancing the depth of collaboration in the biopharmaceutical sector.
- Clinical Trial Progress: Currently, ARCT-032 is undergoing mid-stage development, with Arcturus awaiting 12-week data from a Phase 2 open-label trial, which will significantly impact its future market potential.
See More
Arcturus and Thermo Fisher Forge Strategic Manufacturing Agreement
- Strategic Collaboration: Arcturus Therapeutics has entered into a strategic collaboration with Thermo Fisher Scientific to support the Phase 3 development and potential commercialization of ARCT-032, leveraging Thermo Fisher's Accelerator™ Drug Development solutions to integrate manufacturing and clinical research capabilities.
- Clinical Supply and Manufacturing Rights: Under the agreement, Thermo Fisher will provide Phase 3 manufacturing, clinical research, and related services, and if Phase 2 results are positive, Arcturus plans to conduct its Phase 3 program through Thermo Fisher's PPD™ clinical research business, significantly accelerating the drug's path to market.
- Commercialization Potential: Thermo Fisher will receive exclusive commercial manufacturing rights upon regulatory approval of ARCT-032 under a separate commercial agreement, providing robust support for Arcturus's product commercialization and enhancing its market competitiveness.
- Technological Edge: Arcturus focuses on developing mRNA therapies for liver and respiratory rare diseases, holding over 500 patents, and its KOSTAIVE® vaccine is the world's first approved self-amplifying mRNA COVID vaccine, showcasing its innovative capabilities and market potential in the biotechnology sector.
See More
Arcturus Therapeutics Q1 2026 Earnings Call Insights
- Clinical Trial Progress: Arcturus initiated its 12-week Phase II trial for ARCT-032 in Q1 2026, having surpassed one month of dosing, which signifies steady advancement in its rare disease pipeline and is expected to provide crucial support for future clinical data collection.
- Strong Financial Position: As of March 31, 2026, the company reported $213.4 million in cash and cash equivalents, a decrease from $232.8 million on December 31, 2025, primarily due to reduced revenue from CSL collaborations, reflecting a strategic shift towards rare disease clinical programs.
- R&D Expense Control: Quarterly R&D expenses decreased by $13.4 million year-over-year, driven by lower manufacturing costs associated with LUNAR-COVID and BARDA, although increased costs related to LUNAR-OTC partially offset these reductions, demonstrating effective cost management by the company.
- Clear Regulatory Path: Following a meeting with the FDA, management received clear regulatory direction for ARCT-810, with an end-of-Phase II meeting planned for the second half of 2026, indicating a strategic focus on pediatric studies is becoming increasingly defined.
See More
Arcturus Therapeutics Q1 Earnings Analysis
- Earnings Performance: Arcturus Therapeutics reported a Q1 GAAP EPS of -$0.95, beating expectations by $0.04, yet revenue plummeted to $2.06M, down 93% year-over-year, missing estimates by $4.81M, indicating significant operational challenges.
- Cash Position: As of March 31, 2026, the company held $213.4 million in cash and equivalents, down from $232.8 million on December 31, 2025, reflecting pressure on cash management that could impact future R&D investments.
- Market Reaction: The downgrade to a 'Hold' rating due to a shift in the CF program's population focus has diminished market confidence in Arcturus's growth potential, likely putting downward pressure on its stock price.
- Future Outlook: The company plans to launch a 12-week Phase II CF trial in 2026 and anticipates regulatory clarity for ARCT-810, presenting potential new growth opportunities despite the current challenges.
See More
Arcturus Therapeutics Set to Announce Q1 Earnings on May 7
- Earnings Announcement: Arcturus Therapeutics (ARCT) is set to release its Q1 earnings on May 7 after market close, with consensus EPS estimate at -$1.01 and revenue estimate at $6.87 million, reflecting a significant 76.6% year-over-year decline, indicating substantial challenges ahead for the company.
- Historical Performance: Over the past year, ARCT has beaten EPS estimates 100% of the time and revenue estimates 75% of the time, suggesting a degree of financial stability despite current pressures, which may influence investor sentiment.
- Estimate Adjustments: In the last three months, EPS estimates have seen one upward revision and three downward revisions, while revenue estimates have experienced one upward and one downward revision, highlighting market uncertainty regarding the company's future performance.
- Clinical Trial Progress: Arcturus is advancing a 12-week Phase II clinical trial for cystic fibrosis (CF) and expects regulatory clarity for ARCT-810 in 2026, which could provide new growth momentum for the company moving forward.
See More
