Arcturus Therapeutics Holdings Inc. has announced its financial results for the first quarter ended March 31, 2025. The company reported revenues of $29.4 million, a decrease from $38.0 million in the same period in 2024. This decline is primarily attributed to lower milestone revenues recognized under the CSL collaboration agreement as the KOSTAIVE program transitions from development to the commercial phase. The net loss for the quarter was approximately $14.1 million, compared to a net loss of $26.8 million in the same period in 2024. Arcturus saw a reduction in total operating expenses, reporting $46.2 million for the three months ended March 31, 2025, down from $68.4 million in the first quarter of 2024. This decrease in expenses was driven by reduced share-based compensation costs. The company's cash, cash equivalents, and restricted cash totaled $273.8 million as of March 31, 2025, down from $293.9 million at the end of 2024. Arcturus expects its cash runway to extend into 2028 due to the re-allocation of resources towards its mRNA therapeutics pipeline. Additionally, Arcturus highlighted progress in its clinical programs, with Phase 2 interim data for the ARCT-032 cystic fibrosis program expected in mid-2025 and the completion of enrollment anticipated by year-end. The ARCT-810 OTC program is also expected to provide Phase 2 interim data in the second quarter of 2025. The company has received an initial European Union approval milestone payment from its partnership with CSL.