Arcturus Therapeutics Holdings
ARCTNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $9.39 Prior regular-session close from the quote source.
- $9.14–$9.67 Regular-session low and high so far today.
- 443.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $5.50–$17.96 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own ARCT if Arcturus is a high-risk mRNA platform option whose value depends on turning validated self-amplifying vaccine technology into repeat-dose rare-disease therapeutics before COVID-vaccine economics and cash runway fade.
ARCT price history
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Investment thesis
What must happen next
KOSTAIVE gives Arcturus real-world regulatory and commercial validation for self-amplifying mRNA, but that validation only creates durable value if CSL Seqirus and Meiji can keep the product relevant despite declining COVID demand.HoldingMateriality: High
Item 1 and MD&A state KOSTAIVE is the world’s first approved self-amplifying mRNA vaccine and has approval in Japan, the European Union and the United Kingdom. If KOSTAIVE remains commercially useful, it helps fund and validate the platform; if partner economics fade, Arcturus becomes almost entirely dependent on unproven clinical assets.
Watch: CSL Limited reported an approximately $430 million write-down attributable to the CSL Seqirus collaboration, citing declining COVID-19 disease burden and more onerous U.S. regulatory requirements.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 and MD&A state KOSTAIVE is the world’s first approved self-amplifying mRNA vaccine and has approval in Japan, the.
Open source ↗Arcturus’ balance-sheet value depends on having enough cash to reach ARCT-032 and ARCT-810 clinical/regulatory inflections without being forced into unfavorable financing.StrengtheningMateriality: High
Cash and cash equivalents were $230.909 million at December 31, 2025. If cash carries the company to meaningful data, shareholders keep the upside; if trials expand before validation, dilution or strategic concessions could absorb much of the option value.
Watch: ARCT-032 or ARCT-810 requires larger, longer, or repeated trials before producing decision-quality efficacy data.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash and cash equivalents were $230.909 million at December 31, 2025.
Open source ↗The core platform claim is that LUNAR delivery and mRNA construct design can support repeat dosing in disease-relevant tissues; ARCT-032 and ARCT-810 must show this is therapeutically useful, not merely tolerable in small early studies.HoldingMateriality: Medium
Item 1 and MD&A describe LUNAR as intended to address the major hurdle in RNA drug development: effective and safe delivery of RNA to disease-relevant target tissues. Successful repeat dosing would expand Arcturus from vaccine validation into higher-value rare-disease therapeutics; failure would shrink the company back to a weakened vaccine-collaboration story.
Watch: The 12-week ARCT-032 CF study shows dose-limiting tolerability problems, bronchospasm, or no meaningful preliminary efficacy.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 and MD&A describe LUNAR as intended to address the major hurdle in RNA drug development: effective and safe.
Open source ↗
Full investment case & evidence
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Original research
KOSTAIVE gives Arcturus real-world regulatory and commercial validation for self-amplifying mRNA, but that validation only creates durable value if CSL Seqirus and Meiji can keep the product relevant despite declining COVID demand. If KOSTAIVE remains commercially useful, it helps fund and validate the platform; if partner economics fade, Arcturus becomes almost entirely dependent on unproven clinical assets.
Arcturus’ balance-sheet value depends on having enough cash to reach ARCT-032 and ARCT-810 clinical/regulatory inflections without being forced into unfavorable financing. If cash carries the company to meaningful data, shareholders keep the upside; if trials expand before validation, dilution or strategic concessions could absorb much of the option value.
The core platform claim is that LUNAR delivery and mRNA construct design can support repeat dosing in disease-relevant tissues; ARCT-032 and ARCT-810 must show this is therapeutically useful, not merely tolerable in small early studies. Successful repeat dosing would expand Arcturus from vaccine validation into higher-value rare-disease therapeutics; failure would shrink the company back to a weakened vaccine-collaboration story.
All standing thesis claims
Original report summary
Arcturus is a high-risk mRNA platform option whose value depends on turning validated self-amplifying vaccine technology into repeat-dose rare-disease therapeutics before COVID-vaccine economics and cash runway fade.
Bull case and bear case
Bull case and bear case for Arcturus Therapeutics Holdings
Where the evidence on Arcturus Therapeutics Holdings stands: Holding on the latest evidence (Nov 9, 2026). Of its 3 thesis points, 1 strengthening and 2 holding.
Bull case: what the evidence supports
KOSTAIVE gives Arcturus real-world regulatory and commercial validation for self-amplifying mRNA, but that validation only creates durable value if CSL Seqirus and Meiji can keep the product relevant despite declining COVID demand.
Arcturus’ balance-sheet value depends on having enough cash to reach ARCT-032 and ARCT-810 clinical/regulatory inflections without being forced into unfavorable financing.
The core platform claim is that LUNAR delivery and mRNA construct design can support repeat dosing in disease-relevant tissues; ARCT-032 and ARCT-810 must show this is therapeutically useful, not merely tolerable in small early studies.
Bear case: what would count against it
CSL Limited reported an approximately $430 million write-down attributable to the CSL Seqirus collaboration, citing declining COVID-19 disease burden and more onerous U.S. regulatory requirements.
ARCT-032 or ARCT-810 requires larger, longer, or repeated trials before producing decision-quality efficacy data.
The 12-week ARCT-032 CF study shows dose-limiting tolerability problems, bronchospasm, or no meaningful preliminary efficacy.
Thesis-Break Engine
Thesis-break watch · Arcturus Therapeutics Holdings
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Arcturus Therapeutics Holdings filed an SEC 8-K on 2026-11-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Arcturus Therapeutics Holdings filed an SEC 8-K on 2026-09-23: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Arcturus Therapeutics Holdings filed an SEC 8-K on 2026-08-25: Regulation FD disclosure. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- CSL Limited reported an approximately $430 million write-down attributable to the CSL Seqirus collaboration, citing declining COVID-19 disease burden and more onerous U.S. regulatory requirements.
- ARCT-032 or ARCT-810 requires larger, longer, or repeated trials before producing decision-quality efficacy data.
- The 12-week ARCT-032 CF study shows dose-limiting tolerability problems, bronchospasm, or no meaningful preliminary efficacy.
ARCT news
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Financial statements
ARCT income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
ARCT: quick answers
- Which well-known investors own ARCT?
- 1 of the 37 well-known funds tracked here reported ARCT shares in their latest 13F filing. By share of the fund's portfolio: ARK Investment Management (Cathie Wood), 0.1%. Fund portfolios
ARCT in well-known investors’ portfolios
1 of 37 funds reported ARCT shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Cathie WoodARK Investment Management | 0.13% | $19.5M | +4.8% | Q2 2026 |