Arcturus ends collaboration, regains global vaccine rights, receives cash, cuts liabilities

 

Arcturus ends CSL Seqirus collaboration, regains global vaccine rights, receives $12M cash and removes about $16M potential liabilities

• CSL Seqirus termination returns global KOSTAIVE and sa-mRNA rights, $12M cash, ~ $16M liabilities and R&D credits.
• Q2 revenue fell sharply YoY to $3 million as previously recognized CSL collaboration revenue declined.
• Rare disease programs progressing, with ARCT-810 Phase II enrollment complete and ARCT-032 enrollment on track.
• Decision on ARCT-032 Phase III initiation targeted for Q4 2026, which would trigger Thermo Fisher support.
• ARCT-810 Phase II data readout and regulatory path update expected in Q3 2026, viewed as key catalyst.
• Operating discipline continued, with R&D expenses down to $17.5 million and cash runway extending through year-end 2028.
• Mixed quarter overall, with pipeline progress offset by loss of CSL collaboration revenue.
• Main risk remains monetizing regained vaccine portfolio without overburdening resources versus core rare-disease development focus.
• Main concern is unclear commercialization and partnering path for KOSTAIVE and the broader sa-mRNA vaccine portfolio.

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