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Why Analysts Lost Confidence in the Arcturus COVID-19 Vaccine Chris Lange © Provided by 24/7 Wall St. An update on its COVID-19 vaccine candidate sent Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) shares tumbling on Tuesday. While the company did receive approval from the Singapore Health Sciences Authority to proceed with a Phase 2 clinical study of its vaccine candidate ARCT-021, the data seemed to be underwhelming. Note that the approval is based on data from the Phase 1/2 trial that demonstrated the vaccine produced neutralizing antibodies after one dose. However, these neutralizing antibodies were at lower levels than rival vaccine candidates. Arcturus is hoping its vaccine will not require a booster shot, making it easier to administer than vaccines that require two doses.

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