Shares of Arcturus Therapeutics Holdings (NASDAQ: ARCT) were soaring 25.9% higher as of 11:16 a.m. on Wednesday. The big gain came after the company provided its fourth-quarter update after the market closed on Tuesday.

Fourth-quarter collaboration revenue was $160.3 million, up from $5.8 million in the prior-year period. The biopharmaceutical company posted fourth-quarter earnings of $117.3 million, or $4.33 per diluted share. This reflected a significant improvement from the net loss of $38.7 million, or $1.47 per diluted share, in the fourth quarter of 2021. Arcturus handily topped analysts' estimates on both the top and bottom lines.

And the company provided an update on its pipeline progress. It said that its partner, Meiji Pharma, completed full enrollment earlier than expected in a late-stage clinical study evaluating ARCT-154 as a booster vaccine for COVID-19. Arcturus also noted that inhaled messenger RNA (mRNA) therapy ARCT-032 advanced into phase 1 clinical testing in treating cystic fibrosis.

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Source Fool.com