By Davit Kirakosyan
Arcturus Therapeutics (NASDAQ:ARCT) shares surged 30% today following the company's reported Q4 results, with revenue coming in at $160.3 million, compared to $13.4M in Q4/22. This increase primarily relates to the $200M upfront payment associated with the exclusive global collaboration and license agreement with CSL Seqirus, for the research, development, manufacture, and commercialization of next-generation mRNA vaccines.
The company achieved development milestones in March 2023, including milestones associated with nominating next-generation vaccine candidates, resulting in $90M invoiced to CSL Seqirus.
The company is eligible to receive up to $4.3 billion in potential development and commercial milestones, subject to registration of all licensed products in the licensed fields, 40% profit sharing for COVID-19 vaccines, and up to low double-digit royalties on influenza vaccine revenues.
“We are also pleased to report the completion of full enrollment ahead of schedule in the Phase 3 study being conducted by Meiji Pharma to evaluate ARCT-154 as a booster vaccine for COVID-19,” said Joseph Payne, President and CEO of Arcturus Therapeutics.