Arcturus is a biotech building mRNA medicines—think of it as a delivery service for genetic instructions—targeting vaccines and rare liver/lung diseases.
Revenue is tiny and shrinking, from USD 0.16B in 2023 to USD 0.07B in 2025, with gross margins near 100% but deep net losses (net margin -97.86% in 2025). Money comes from partnerships, not product sales—no recurring revenue yet.
Its LUNAR delivery platform is patented and validated by deals with Janssen, Ultragenyx, and CureVac, creating switching costs for partners. But the moat is eroding as Moderna and BioNTech pour billions into rival mRNA delivery tech, narrowing Arcturus's edge.
Key events, in time order
Related — this ticker is not the subject
The first positive late-stage readout for an mRNA cancer vaccine could strengthen the case for personalized tumor treatment.
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Arcturus Therapeutics is seeing a volume spike and price movement potentially linked to Moderna's positive mRNA cancer vaccine news, suggesting a speculative momentum play.
Main discussion
Incredibly awful weekly chart before the news - sometimes you just get lucky with things $ARCT https://t.co/LfcrFijQTv
$ARCT apparently getting some love via the $MRNA move - not familiar with the co, but that volume spike Wed - whoa --------- On Wednesday, Merck and Moderna reported positive late-stage results for their personalized mRNA cancer vaccine (combined with Keytruda) in high-risk melan
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