Business
Arcutis Announces First Quarter 2023 Financial Results and Provides Business Update
Achieved net revenues of $2.8 million for ZORYVE® (roflumilast) cream 0.3% in the first quarter of 2023, with unit demand growth nearly doubling
About this update from Arcutis Biotherapeutics, Inc.
[{"type":"text","content":"Achieved net revenues of $2.8 million for ZORYVE® (roflumilast) cream 0.3% in the first quarter of 2023, with unit demand growth nearly doubling quarter-over-quarterContinued expansion of commercial payer coverage for ZORYVE in plaque psoriasis with over 110 million commercial lives covered in the United StatesReceived Health Canada approval of ZORYVE for plaque psoriasis, with launch expected in the coming weeksCompleted enrollment in INTEGUMENT-PED, the Pivotal Phase 3 trial in individuals with atopic dermatitis aged 2 to 5 years old, with topline data expected in the third quarter of 2023Received U.S. Food and Drug Administration (FDA) acceptance of our New Drug Application (NDA) for roflumilast foam for the treatment of seborrheic dermatitis in adults and adolescents, with a target action date of December 16, 2023Strong financial position with approximately $333 million in cash, cash equivalents, and marketable securities, with capital allocation focused on commercialization WESTLAKE VILLAGE, Calif., May 09, 2023 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported financial results for the quarter ended March 31, 2023, and provided a business update. “We are building momentum in our ongoing launch in psoriasis as a result of ZORYVE's differentiated product profile, marked by exceptionally positive patient and physician feedback, paired with our ability to secure broad, high-quality formulary coverage. With the recent FDA acceptance of our NDA for seborrheic dermatitis and our upcoming regulatory submissions in atopic dermatitis and scalp and body psoriasis, we look forward to potentially launching a new product every two to three quarters over the next two years, leveraging the commercial infrastructure and positive tailwinds from the clinical experience we've built in plaque psoriasis,” said Frank Watanabe, Arcutis’ President and Chief Executive Officer. “Our balance sheet remains strong, and we are further prioritizing capital allocation towards our commercialization efforts in order to drive long-term shareholder value.” Program Updates / Key Milestones ZORYVE (roflumilast) cream - a highly potent and selective phosphodiesterase-4 (PDE4) inhibitor in a once-daily cream formul...