Why Arcturus Therapeutics Stock Is Plunging Today

Shares of Arcturus Therapeutics (NASDAQ: ARCT) were plunging 32.3% as of 11:43 a.m. EDT on Wednesday. The small drugmaker didn't report any news of its own. However, investors appear to be selling off Arcturus stock because of bad news for another biotech that's also developing a COVID-19 vaccine -- Moderna (NASDAQ: MRNA). Reports surfaced yesterday that one of the participants in Moderna's phase 1 study of its COVID-19 vaccine candidate experienced a severe reaction.

STAT News' Matthew Herper reported on Tuesday that Ian Haydon developed a high fever after receiving a second dose of Moderna's experimental COVID-19 vaccine. Haydon then sought medical care. After returning home, he was nauseous and vomited and even fainted. Haydon was one of four participants in Moderna's phase 1 clinical trial who had serious adverse events after being dosed with the biotech's COVID-19 vaccine candidate.

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