Arcturus Buys AI Drug Discovery Firm myNEO, Reports Positive OTCD Data
ARCT has more than doubled off its 52-week low of $5.5.
Summary
Arcturus is acquiring myNEO, an AI drug discovery company it has worked with since 2024, to strengthen its computational platform. The deal, expected to close in October, has undisclosed financial terms. Separately, interim Phase 2 data for ARCT-810 in ornithine transcarbamylase deficiency showed the drug was safe and well tolerated, reduced ammonia and glutamine levels, and prompted weight gain. The company is also rolling out Lunar 2.0, its next-generation mRNA delivery platform, and plans to integrate ARCT-2601 into the ARCT-810 trial near year-end. Shares rose 7.5% after hours to $14.30. This follows the Thermo Fisher collaboration announced in July and Q2 results showing cash runway past 2028.
At the time of this announcement, ARCT was trading at $13.90 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $378M. The 52-week trading range was $5.50 to $24.17. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.