Management ChangeMay 7, 2026, 04:16 PM
Arcturus Appoints Dennis Mulroy as CFO; Reports Q1 Net Loss $27.0M
AI Summary
Arcturus Therapeutics announced the appointment of Dennis Mulroy as Chief Financial Officer, effective May 1, 2026, strengthening its executive team. The company reported a net loss of $27.0 million for Q1 2026, an increase from $14.1 million in Q1 2025, with total revenue decreasing to $2.1 million from $29.4 million year-over-year. Despite the financial results, Arcturus highlighted pipeline progress, including initiating enrollment for its ARCT-032 cystic fibrosis Phase 2 study and receiving a clear FDA path for its ARCT-810 OTC deficiency program, while maintaining a cash runway beyond Q2 2028.
Key Highlights
- Dennis Mulroy appointed Chief Financial Officer, effective May 1, 2026.
- Q1 2026 net loss increased to $27.0 million from $14.1 million in Q1 2025.
- Q1 2026 total revenue decreased to $2.1 million from $29.4 million in Q1 2025.
- Cash, cash equivalents, and restricted cash were $213.4 million as of March 31, 2026.
- Company projects a cash runway extending beyond Q2 2028.
- Initiated enrollment for ARCT-032 (CF) Phase 2 study in Q1 2026.
- FDA provided path for ARCT-810 (OTC deficiency) pivotal pediatric study.
- Mulroy's compensation includes $520,000 base salary and 100,000 stock options.