Arcturus Therapeutics (ARCT) 2024 Wells Fargo Healthcare Conference summary

Company overview and platforms

• Focuses on mRNA vaccines and therapeutics with three main franchises: vaccines (COVID-19), liver (OTC deficiency), and lung (cystic fibrosis).

• COVID vaccine is partnered with CSL and Meiji, with proven commercial potential.

• Liver and lung programs are nearing meaningful proof-of-concept data this year.

COVID-19 vaccine commercial and regulatory updates

• Regulatory approval in Japan for the updated COVID vaccine is imminent, enabling sales to begin.

• Meiji has ordered 4 million doses for 2024, with shipments starting in Q4; 10 million doses projected for 2025.

• Revenue recognition will accelerate in 2025 as development expenses are amortized.

• European approval is expected in Q4, with potential for additional commercial milestones.

• Milestone payments for first sales in Japan and approval in Europe are included in the three-year cash runway.

Clinical data and upcoming presentations

• Twelve-month durability data for the COVID vaccine will be presented at the Options meeting in September.

• Interim phase III data for the XBB.1.5 and bivalent vaccines expected later this year, supporting global licensure.

• Bivalent and multi-antigenic vaccine trials are positioned as differentiators amid industry inconsistencies.