Business
Arcutis Announces First Quarter 2020 Financial Results and Provides Business Update
Multiple important Phase 3 and Phase 2 data events anticipated during 2020/2021Arcutis currently expects no impact to its previously disclosed clinical
About this update from Arcutis Biotherapeutics, Inc.
[{"type":"text","content":"Multiple important Phase 3 and Phase 2 data events anticipated during 2020/2021Arcutis currently expects no impact to its previously disclosed clinical timelines due to COVID-19Strong financial position with $249.3 million in cash, cash equivalents and marketable securities WESTLAKE VILLAGE, Calif., May 12, 2020 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology, today reported financial results for the quarter ended March 31, 2020 and provided a business update.\n “Despite the global challenges presented by COVID-19, Arcutis continued to make progress in executing upon our mission of addressing the gap we see in dermatology drug development by leveraging recent advances in inflammation and immunology,” said Frank Watanabe, Arcutis’ President and Chief Executive Officer. “Our priorities during these unprecedented times are first and foremost to safeguard the health and well-being of our trial participants, investigators, and employees; then to continue effective operations to support our clinical trial sites and to advance our pipeline of drug candidates; and to maintain the financial strength and stability afforded us by our recent successful initial public offering. Although some of our clinical sites have experienced disruptions as a result of COVID-19, at this time we do not expect delays to any of our previously disclosed clinical timelines, and we still expect to have six clinical data readouts over the next 18 months, including our pivotal Phase 3 clinical trials of topical roflumilast cream as a potential treatment for plaque psoriasis. We currently have four product candidates in development for seven indications, with an addressable U.S. market of over 20 million patients.” Pipeline UpdateTopical roflumilast cream (ARQ-151) - a highly potent and selective phosphodiesterase type 4 (PDE4) inhibitor in a cream formulation, being developed as a potential treatment for plaque psoriasis, including intertriginous psoriasis, and atopic dermatitis. Arcutis initiated two Phase 3 clinical trials (DERMIS-1 and -2) evaluating the compound in plaque psoriasis in January 2020, and anticipates announcing topline data in the first half...