Arcturus’s latecomer Covid vaccine elicits little interest

Uncertainty about future demand for Covid vaccines has already hit shares in the big manufacturers of such products, while Johnson & Johnson yesterday withdrew sales guidance for its own vaccine, citing surplus in supply. So an underwhelming response to results on Arcturus’s latecomer are perhaps unsurprising – shares in the biotech sank 20% in early trade today after it unveiled top line results from a large pivotal study conducted in Vietnam. ARCT-154, which the company describes as a self-amplifying mRNA vaccine, generated efficacy of 55% in preventing symptomatic infection. While this is a far cry from the 90%+ rates report by the first wave of vaccines, it is probably not far off what the incumbents are achieving in today’s variant filled world. And 95% efficacy against prevention of severe disease sounds competitive. Arcturus is in the process of filing the product in Vietnam, and plans to start a booster study with an eye to use in Western markets. But given the stockpile of existing products and slowing vaccination rates, this could all be moot, at least commercially speaking. Little wonder that investors have lost interest.