Arcturus Therapeutics Holdings Second Quarter 2024 Earnings Beats Expectations

Arcturus Therapeutics Holdings: Q2 2024 Earnings and Revenue Growth

Key Financial Results

Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) released its quarterly earnings results on August 5, 2024, revealing the following key financial highlights:

Revenue:

Revenue for the three months ended June 30, 2024, amounted to approximately $51.6 million, representing a 25% increase compared to the same period in 2023.

Net Loss:

Arcturus reported a net loss of approximately $172 million, or $0.64 per share, for the quarter, compared to a net loss of $105 million, or $0.45 per share, in Q2 2023.

Cash Runway:

The company's expected cash runway extends approximately three years based on the current pipeline and programs.

Analyst Commentary

Analysts at InvestorPlace provided their insights on Arcturus Therapeutics' Q2 2024 results:

"ARCT's Q2 results were encouraging, with revenue growth and progress in its pipeline development," said analyst Lucas Pipes. "The company's cash runway extension also provides investors with confidence in its financial stability."

Market Reaction

Shares of Arcturus Therapeutics initially rose in after-hours trading following the earnings release but later retreated. As of the market close on August 8, 2024, the stock was trading at $15.75, down approximately 3% from the previous close.