Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT), shares nosedived in the premarket session today as it recorded down -33.49% to reach $61.47. There is no clear answer to why this stock dropped todayother than “confused investors.”
The only significant piece of recent news directly affecting this stockwas that ARCT had received approval from the Singapore Health Sciences Authority to initiate a Phase 2 clinical study of its vaccine candidate ARCT-021. In addition to favorable Phase 1/2 results, this study will build on preclinical data,supporting its efficacy.
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Steve Hughes, M.D., Chief Development Officer of Arcturus, said in a statement that upon the basis of our promising Phase 1/2 results, we have decided to advance ARCT-021 into a Phase 2 study. Based on those data and more, we believe our technology can provide a highly effective yet differentiated clinical profile, including a single-dose regimen.
Our Phase 2 study will enable us to select the optimal ARCT-021 vaccination regimen for Phase 3 registration studies. We hope to have interim Phase 2 data in early 2021 to provide the basis for our Phase 3 study, which is expected to be initiated in Q2 2021, he added.