Arcturus Plunges 55.79% After Interim Phase 2 CF Data
(RTTNews) - Arcturus Therapeutics Holdings Inc. (ARCT) fell 55.79% to trade at $10.26, down $12.90, after reporting interim results from its Phase 2 trial of ARCT-032, an inhaled mRNA therapy for cystic fibrosis.
The trial showed the therapy was generally safe and well tolerated, and imaging data revealed mucus-plug reduction in four of six participants; however, lung-function improvements did not meet expectations, contributing to investor disappointment.
On Wednesday, ARCT opened at $23.15, hit a high of $23.90, and a low of $9.85, compared to a previous close of $23.16 on the NASDAQ. Trading volume surged to approximately 50 million shares, far exceeding the average of ~0.7 million. The stock's 52-week range is $8.04 - $37.40.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.