Arcturus Therapeutics(US:ARCT)2025-11-10 21:09Revenue Performance - Revenue for Q3 2025 was $17.2 million, a decrease of $24.5 million compared to Q3 2024, primarily due to reduced revenue from the CSL collaboration [4] - Total revenue for Q3 2025 was $17,151,000, a decrease of 58.8% compared to $41,673,000 in Q3 2024 [17] - Collaboration revenue in Q3 2025 was $14,153,000, down from $38,815,000 in Q3 2024, representing a decline of 63.5% [17] Operating Expenses - Total operating expenses for Q3 2025 were $33.7 million, down from $52.4 million in Q3 2024 [6] - General and administrative expenses for Q3 2025 were $10.4 million, down from $13.3 million in Q3 2024, primarily due to reduced share-based compensation [9] - Total operating expenses for Q3 2025 were $33,663,000, a reduction of 35.7% compared to $52,410,000 in Q3 2024 [17] Research and Development - Research and development expenses for Q3 2025 were $23.3 million, a decrease from $39.1 million in Q3 2024, driven by lower manufacturing costs [7] - Research and development expenses for Q3 2025 were $23,265,000, a decrease of 40.5% from $39,134,000 in Q3 2024 [17] - The ongoing Phase 2 clinical trial of ARCT-032 showed reductions in mucus burden in four of six Class I CF participants after 28 days of treatment [5] - The company plans to initiate a 12-week safety and preliminary efficacy study for ARCT-032 in up to 20 cystic fibrosis participants in the first half of 2026 [2] Net Loss - Net loss for Q3 2025 was approximately $13.5 million, or ($0.49) per diluted share, compared to a net loss of $6.9 million, or ($0.26) per diluted share in Q3 2024 [10] - Net loss for Q3 2025 was $13,448,000, compared to a net loss of $6,903,000 in Q3 2024, indicating an increase of 94.5% in losses year-over-year [17] - Net loss per share for Q3 2025 was $0.49, compared to $0.26 in Q3 2024, reflecting a 88.5% increase in loss per share [17] Cash Position - Cash, cash equivalents, and restricted cash were $237.3 million as of September 30, 2025, down from $293.9 million on December 31, 2024 [11] - Cash runway is expected to extend into 2028 due to planned cost reductions and delays in clinical trials [11] Comprehensive Loss - Comprehensive loss for the nine months ended September 30, 2025, was $36,704,000, compared to $50,936,000 for the same period in 2024 [17] Finance Income - Finance income for Q3 2025 was $3,234,000, a decrease of 15.3% from $3,818,000 in Q3 2024 [17] Share Information - Weighted-average shares outstanding for Q3 2025 were 27,188,000, slightly up from 27,062,000 in Q3 2024 [17] Future Outlook - The company anticipates continued support from CSL to commercialize KOSTAIVE in Asia and Europe [2]