logo-loader
HealthPharma & Biotech
Arcturus Therapeutics

Arcturus Therapeutics stock rockets higher amid expansion of Ultragenyx collaboration

The companies plan to discover and develop mRNA, DNA and small interfering RNA therapeutics to target a slate of rare diseases

Arcturus scientist in a lab
The partnership will pay Arcturus for major milestones reached in the development process

Arcturus Therapeutics Holdings Inc (NASDAQ:ARCT) shares surged after the messenger RNA medicine company announced Wednesday the continuation of its collaboration with Ultragenyx Pharmaceutical Inc (NASDAQ:RARE).

The companies plan to discover and develop mRNA, DNA and small interfering RNA therapeutics to target a slate of rare diseases.

Arcturus shares jumped nearly 42% to $8.19. Shares of Ultragenyx, a large-cap pharmaceutical company, ticked up 0.6% to $62.70.

READ: Melinta stock doubles on FDA approval of a supplemental new drug application for BAXDELA to treat pneumonia

The partnership will pay Arcturus for major milestones reached in the development process. The two companies have been working together since October 2015.

The first such treatment is designed to treat Glycogen Storage Disease Type III, a hereditary disorder that impairs the body’s ability to break down carbohydrates.

“The expansion of the collaboration with Ultragenyx underscores the partnership’s early successes and ongoing commitment,” CEO Joseph Payne said. “Our expertise in the discovery, early development and manufacturing of RNA medicines aligns well with Ultragenyx’s proven clinical development and commercial experience in rare diseases.”

Arcturus Therapeutics is an RNA medicines company based in San Diego, California. Itstreatment pipeline includes therapies for Ornithine Transcarbamylase Deficiency, Cystic Fibrosis, Glycogen Storage Disease Type 3, Hepatitis B, and non-alcoholic steatohepatitis.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Arcturus Therapeutics

Price: 9.63 USD

Market: NASDAQ
Market Cap: $145.66 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Shield Therapeutics to present data showing Feraccru offers 'real oral...

Shield Therapeutics PLC's (LON:STX) Dr Mark Sampson speaks to Proactive London's Andrew Scott ahead of them presenting positive data from the Phase 3b, open-label randomised controlled trial of Feraccru. He says the trial shows the drug, also known as Accrufer in the States, offers a real...

14 hours, 54 minutes ago

2 min read