ARCT Stock — Arcturus Therapeutics Holdings Inc.: Cash, EV, Pipeline

What they do

Our estimates are derived from industry and general publications, studies and surveys conducted by third-parties, as well as data from our own internal research. These publications, studies and surveys generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information, and we have not independently verified industry data from such third-party sources.

Source: 10-K FY2025 via SEC EDGAR

Share price

$10.35

Market cap

$294.2M

Cash

$184.8M

Enterprise value

$109.4M

Balance sheet

Cash	$184.8M
Debt	$0.0M
Net cash	$184.8M
Enterprise value	$109.4M
Basic shares	28.8M shares
Fully diluted shares	37.3M shares
Fully diluted market cap	$386.2M
Cash per share	$6.41
Quarterly burn	$19.9M
Cash runway	9.6 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

28.4M

Pre-funded warrants

—

Options

8.9M

RSUs

0.0M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

37.3M

Cap table as of 2026-08-04.

Price history

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Next catalyst

ARCT-032 · Jul 13 - Aug 24 in 8 mo · Phase 2 · Cystic Fibrosis; CFTR Gene Mutation

Recently reported

ARCT-810 Phase 2 Mixed · 2026-09-23

ARCT-810 · otc deficiency, ornithine transcarbamylase deficiency, otcd

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jul 13 - Aug 24 in 8 mo	ARCT-032	Phase 2	Cystic Fibrosis; CFTR Gene Mutation	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

KOSTAIVE

Approved · Active Modality: self-amplifying mRNA (sa-mRNA) vaccine

Aliases ARCT-154

Target SARS-CoV-2 spike

Partnerships Meiji Seika Pharma: KOSTAIVE activities in Japan (commercial sales since Oct 2024; direct arrangement from 2027-2028 season). CSL Seqirus collaboration (Nov 2022) terminated Aug 3, 2026; company regained KOSTAIVE and vaccine portfolio

Indications

COVID-19 (Approved)

Status note World's first approved sa-mRNA vaccine: Japan Nov 2023 (primary + booster), EU and UK approved. Updated JN.1 variant XEC two-dose vial launched in Japan Aug 2025; Partial Change Application for NB.1.8.1 filed with PMDA Jun 2026. U.S. BLA submission delayed at FDA request Sep 2025; FDA Oct 2025 required additional clinical endpoint efficacy study data.

ARCT-032

Phase 2 · Active Modality: mRNA therapeutic

Aliases LUNAR-CF

Target CFTR

Partnerships Cystic Fibrosis Foundation: development program letter agreement (amended Sep 2023)

Indications

Cystic fibrosis (Phase 2)

Status note Phase 2 (NCT06747858): open-label, multiple ascending dose in CF adults not benefiting from current CFTR modulators, including Class I null mutations; dosing initiated.

ARCT-810

Phase 2 · Active Modality: mRNA therapeutic

Aliases LUNAR-OTC

Target OTC

Indications

Ornithine transcarbamylase (OTC) deficiency (Phase 2)

Status note Completed enrollment and all study drug dosing in open-label multiple-ascending-dose Phase 2 (adult/adolescent); positive multiple-dosing data from two Phase 2 studies announced Jun 30, 2025; evaluating supplementary data to inform regulatory discussions and End-of-Phase preparation.

sa-mRNA pandemic influenza vaccine

Phase 1 · Active Modality: sa-mRNA vaccine

Partnerships BARDA: cost-reimbursement contract

Indications

Pandemic influenza (avian/bird flu) (Phase 1)

Status note Phase 1 dosing initiated Dec 2024, funded by BARDA; study results received H2 2025.

LUNAR-FLU

Phase 1 · Active Modality: sa-mRNA vaccine

Aliases LUNAR-FLU

Partnerships Formerly partnered with CSL Seqirus under the CSL Collaboration Agreement (terminated Aug 3, 2026); company regained control

Indications

Seasonal influenza (Phase 1)

Status note Phase 1 clinical stage program (formerly CSL-partnered).

Therapeutic HPV vaccine candidate

Stage not disclosed · Active Modality: vaccine

Partnerships Gates Foundation grant funding (therapeutic HPV vaccine development)

Indications

HPV (Stage not disclosed)

Status note Early program supported by Gates Foundation grant; no clinical stage stated in filing.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06747858	Phase 2	Recruiting	Sponsor	Arcturus Therapeutics, Inc.	—	Cystic Fibrosis; CFTR Gene Mutation	—
NCT06488313	Phase 2	Recruiting	Sponsor	Arcturus Therapeutics, Inc.	—	OTC Deficiency; Ornithine Transcarbamylase Deficiency; OTCD	Q3 2026
NCT07390968	Phase 2	Not yet recruiting	Collaborator	Fred Hutchinson Cancer Center	—	Hematopoietic and Lymphatic System Neoplasm	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Arcturus Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	0	-15,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ARCT — Arcturus Therapeutics Holdings Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Active clinical trials

Specialist fund holders

Latest news

ARCT — Arcturus Therapeutics Holdings Inc.