Business
Arcutis Announces Second Quarter 2023 Financial Results and Provides Business Update
Achieved total revenues of $5.2 million in the second quarter of 2023. Net product revenues for ZORYVE® (roflumilast) cream 0.3% were $4.8 million, a 72%
About this update from Arcutis Biotherapeutics, Inc.
[{"type":"text","content":"Achieved total revenues of $5.2 million in the second quarter of 2023. Net product revenues for ZORYVE® (roflumilast) cream 0.3% were $4.8 million, a 72% increase compared to the first quarter of 2023, driven by nearly 40% demand growth as well as gross-to-net improvementContinued expansion of commercial payer coverage for ZORYVE in plaque psoriasis with over 130 million commercial lives covered in the United States, including all three of the largest pharmacy benefit managers (PBMs)Launched ZORYVE for plaque psoriasis in Canada in June 2023, with excellent early reception from patients, physicians, and payersStrong financial position with approximately $270 million in cash, cash equivalents, and marketable securities as of June 30, 2023 WESTLAKE VILLAGE, Calif., Aug. 08, 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 June 30, 2023, and provided a business update. “We continue to execute on our strategy to build the leading innovation-driven dermatology company in the industry. With our world-class formulation expertise, track record of clinical and regulatory success, and robust commercial infrastructure, topical roflumilast represents a truly unique, de-risked asset, with significant operating leverage and multiple catalysts ahead,” said Frank Watanabe, Arcutis’ President and Chief Executive Officer. “The ZORYVE launch in plaque psoriasis is strengthening on all fronts, and notably with our high-quality commercial coverage now reaching a critical mass, we will continue to invest to fuel the next leg of the psoriasis launch, while also preparing for the upcoming launches in seborrheic dermatitis and atopic dermatitis in 2024, upon their respective anticipated U.S. Food and Drug Administration (FDA) approvals.” Program Updates / Key Milestones Roflumilast cream - a highly potent and selective phosphodiesterase-4 (PDE4) inhibitor in a once-daily cream formulation, approved in the United States for the treatment of plaque psoriasis and under development for atopic dermatitis The launch of ZORYVE in plaque psoriasis continued to build momentum in the second quarter, with strong demand growth, commercial formulary access expansion, and g...