CSL CSL Limited

By Chris Wack

Arcturus Therapeutics Holdings Inc. shares were up 31% to $24.03 after it entered into a strategic collaboration with CSL Seqirus for the research, development, manufacture and global commercialization of vaccines.

CSL Seqirus is part of CSL Ltd.

Under the terms of the agreement, Arcturus will provide CSL Seqirus with a license to their self-amplifying mRNA technology to support the research, development, manufacture, and commercialization of vaccines for Covid-19, influenza, pandemic preparedness, as well as three other globally prevalent respiratory infectious diseases.

Arcturus will provide CSL Seqirus with a license to its STARR self-amplifying mRNA technology, LUNAR lipid-mediated delivery, along with mRNA drug substance and drug product manufacturing expertise. CSL Seqirus will lead development and commercialization of vaccines under the collaboration.

Arcturus will receive $200 million upfront and is eligible to receive more than $1.3 billion in development milestones and more than $3 billion in commercial milestones. In addition, the company is eligible to receive a 40% net profit share for Covid-19 vaccine products and up to double-digit royalties for vaccines against flu, pandemic preparedness and three other respiratory pathogens.

Cantor Fitzgerald raised its price target for Arcturus stock to $44 from $39 a share, while maintaining its Overweight rating. Barclays raised its price target to $25 from $16 a share, while raising its rating for Arctucus to Equal-Weight from Underweight.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

November 02, 2022 11:19 ET (15:19 GMT)

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