Ownership / Arcturus Therapeutics Holdings Inc. | Tables in SEC filings

ARCT Arcturus Therapeutics Holdings Inc.

Quarterly report

	Nine Months Ended September 30,
(in thousands)	2024		2023
Operating activities
Net loss	$	(50,936)	$	(18,018)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		2,725		2,142
Share-based compensation expense		29,005		25,834
Foreign currency transaction loss		643		90
Gain on debt extinguishment		—		(33,953)
Other non-cash expenses		—		502
Changes in assets and liabilities:
Accounts receivable		1,865		(35,456)
Prepaid expense and other assets		(923)		556
Right-of-use assets		3,638		3,011
Accounts payable		4,852		10,497
Accrued liabilities		(625)		(3,437)
Deferred revenue		(47,051)		33,960
Lease liabilities		(2,656)		(3,198)
Net cash used in operating activities		(59,463)		(17,470)
Investing activities
Acquisition of property and equipment		(648)		(2,026)
Net cash used in investing activities		(648)		(2,026)
Financing activities
Proceeds from exercise of stock options		4,602		1,325
Proceeds from the issuance of common stock under equity plans		682		609
Proceeds from debt		—		20,000
Payments on debt obligations		—		(27,364)
Net cash provided by (used in) financing activities		5,284		(5,430)
Net decrease in cash, cash equivalents and restricted cash		(54,827)		(24,926)
Cash, cash equivalents and restricted cash at beginning of the period		348,890		393,977
Cash, cash equivalents and restricted cash at end of the period	$	294,063	$	369,051

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2024		2023		2024		2023
Revenue:
Collaboration revenue	$	38,815	$	43,376	$	117,389	$	132,670
Grant revenue		2,858		1,764		12,155		3,274
Total revenue		41,673		45,140		129,544		135,944
Operating expenses:
Research and development, net		39,134		51,077		151,376		155,513
General and administrative		13,276		13,377		40,443		40,364
Total operating expenses		52,410		64,454		191,819		195,877
Loss from operations		(10,737)		(19,314)		(62,275)		(59,933)
(Loss) gain from foreign currency		(201)		4		(642)		(175)
Gain on debt extinguishment		—		—		—		33,953
Finance income, net		3,818		3,981		11,981		9,710
Net loss before income taxes		(7,120)		(15,329)		(50,936)		(16,445)
Provision for income taxes		(217)		893		—		1,573
Net loss	$	(6,903)	$	(16,222)	$	(50,936)	$	(18,018)
Net loss per share, basic and diluted	$	(0.26)	$	(0.61)	$	(1.89)	$	(0.68)
Weighted-average shares outstanding, basic and diluted		27,062		26,574		26,970		26,559
Comprehensive loss:
Net loss	$	(6,903)	$	(16,222)	$	(50,936)	$	(18,018)
Comprehensive loss	$	(6,903)	$	(16,222)	$	(50,936)	$	(18,018)

					Additional				Total
	Common Stock				Paid-In		Accumulated		Stockholders’
(in thousands)	Shares		Amount		Capital		Deficit		Equity
Balance at December 31, 2023		26,828	$	27	$	646,352	$	(367,866)	$	278,513
Net loss		—		—		—		(26,817)		(26,817)
Share-based compensation expense		—		—		10,088		—		10,088
Issuance of common stock upon exercise of stock options		89		—		2,188		—		2,188
Balance at March 31, 2024		26,917	$	27	$	658,628	$	(394,683)	$	263,972
Net loss		—		—		—		(17,216)		(17,216)
Share-based compensation expense		—		—		9,424		—		9,424
Issuance of common stock upon exercise of stock options		125		—		2,403		—		2,403
Balance at June 30, 2024		27,042	$	27	$	670,455	$	(411,899)	$	258,583
Net loss		—		—		—		(6,903)		(6,903)
Share-based compensation expense		—		—		9,493		—		9,493
Issuance of common stock upon exercise of stock options		2		—		11		—		11
Issuance of common stock under equity plans		40		—		682		—		682
BALANCE – September 30, 2024		27,084	$	27	$	680,641	$	(418,802)	$	261,866

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Collaboration Revenue:
CSL Seqirus	$	38,786	$	43,433	$	117,078	$	129,257
Other collaboration revenue		29		(57)		311		3,413
Total collaboration revenue	$	38,815	$	43,376	$	117,389	$	132,670
Grant revenue:
BARDA	$	2,858	$	1,764	$	12,155	$	3,274
Total grant revenue	$	2,858	$	1,764	$	12,155	$	3,274

(in thousands)	September 30, 2024		December 31, 2023
Accrued compensation	$	10,846	$	5,918
Cystic Fibrosis Foundation liability		7,109		7,633
Income tax payable		—		641
Current portion of operating lease liability		3,435		4,309
Clinical trial accruals		2,039		2,333
Vinbiocare contractual liabilities		2,036		2,514
Other accrued research and development expenses		6,931		8,533
Total	$	32,396	$	31,881

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