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.”
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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.