Business
Arcutis Announces Preliminary Unaudited Fourth Quarter Product Revenue and Full-Year 2024 Product Revenues of Approximately $63 Million and $160 Million
Preliminary unaudited product revenue for the fourth quarter of 2024 is expected to be approximately $63 million, up approximately 366% vs. Q4 2023 and 41%
About this update from Arcutis Biotherapeutics, Inc.
[{"type":"text","content":"Preliminary unaudited product revenue for the fourth quarter of 2024 is expected to be approximately $63 million, up approximately 366% vs. Q4 2023 and 41% vs. Q3 2024Preliminary unaudited product revenue for the full-year 2024 is expected to be approximately $160 million, up approximately 449% vs. 2023Robust unit growth across the portfolio with gross-to-net (GTN) similar to prior quarterPreliminary unaudited cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2024 are expected to be approximately $229 millionCompany to release complete fourth quarter and full year 2024 financial results and host a conference call and webcast on February 25, 2025 at 4:30 p.m. EST WESTLAKE VILLAGE, Calif., Jan. 12, 2025 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today announced certain preliminary unaudited financial information for the fourth quarter and full-year 2024. Preliminary Fourth Quarter and Full-Year 2024 Financial Information Preliminary unaudited product revenue for the fourth quarter of 2024 is expected to be approximately $63 million, representing growth of approximately 366% as compared to the fourth quarter of 2023 and approximately 41% as compared to the third quarter of 2024. Preliminary unaudited product revenue for the full-year 2024 is expected to be approximately $160 million, representing growth of approximately 449% vs. 2023Revenue growth in the fourth quarter across the franchise was driven by strong demand for all ZORYVE® (roflumilast) indications, while GTN was similar to the prior quarterPreliminary cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2024 are expected to be approximately $229 millionAs previously reported, the Company repaid $100 million of its long-term debt held by SLR Investment Corp. and has the option to re-draw approximately $100 million by the first half of 2026 making total liquidity as of December 31, 2024 from cash, cash equivalents, restricted cash, marketable securities, and available debt equal to approximately $329 million “We are excited by the significant sales momentum and robust revenue growth we continue to generate in our business, driven by expanding demand for our entire ZORYVE ...