Arcturus Shares Jump After Collaboration With CSL For mRNA-Based Vaccines

Author: Vandana Singh | November 02, 2022 07:43am

Arcturus Therapeutics Holdings Inc (NASDAQ:ARCT) announced a strategic collaboration with CSL Seqirus, a unit of CSL Limited (OTC:CSLLY)
Under the terms of the agreement, Arcturus will provide CSL Seqirus with a license to their self-amplifying mRNA technology to support the research, development, manufacture, and commercialization of vaccines for SARS-CoV-2 (COVID-19), influenza, pandemic-preparedness, as well as three other globally prevalent respiratory infectious diseases.
The collaboration combines CSL Seqirus' established global vaccine commercial and manufacturing infrastructure with Arcturus' manufacturing expertise and STARR self-amplifying mRNA vaccine and LUNAR delivery platform technologies.
Related Content: Arcturus' COVID-19 Booster Shows Durability Against Omicron Variants.
CSL Seqirus will lead the development and commercialization of vaccines under the collaboration.
Arcturus will receive $200 million upfront and is eligible to receive over $1.3 billion in development milestones and over $3 billion in commercial milestones.
In addition, Arcturus is eligible to receive a 40% net profit share for COVID-19 vaccine products and up to double-digit royalties for vaccines against flu, pandemic preparedness, and three other respiratory pathogens.
Price Action: ARCT shares are up 31.84% at $24.10 during the premarket session on the last check Wednesday.