Arcutis Biotherapeutics, Inc. · NASDAQ:ARQT
Arcutis Biotherapeutics — Q2 2024 Earnings Presentation
24 slides from Arcutis Biotherapeutics's earnings presentation, Aug 14, 2024
Slide 1: 2nd Quarter 2024 Financial Results & Business Update
2nd Quarter 2024 Financial Results & Business Update August 14, 2024
Slide 2: Legal Disclaimers
Legal Disclaimers This presentation and the accompanying oral presentation contain commercialization, marketing and manufacturing capabilities and to time, whether as a result of new information, future “forward-looking” statements that are based on our management’s strategy; current and future agre
Slide 3: Today's Speakers
Today’s Speakers Frank Watanabe Todd Edwards President & CEO Chief Commercial Officer Patrick Burnett, MD, PhD, FAAD David Topper Chief Medical Officer Chief Financial Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 3
Slide 4: Speakers & Agenda: Business Review
Speakers & Agenda Business Review Frank Watanabe President & CEO ©Copyright 2024. Arcutis Biotherapeutics, Inc. All rights reserved. Presentation designed for an investor audience. 4
Slide 5: Q2 Business Update – Another Quarter of Solid Growth
Q2 Business Update – Another Quarter of Solid Growth Q2 Portfolio net sales of $30.9M, grew 547% compared to Q2 2023 and 43% compared to Q1 2024 ZORYVE® (roflumilast) topical foam, 0.3% for Seb Derm continuing unit growth with ~99,000 TRx launch-to-date; Q2 net product revenue of $13.6M ZORYVE® (rof
Slide 6: Speakers & Agenda: Commercial Update
Speakers & Agenda Commercial Update Todd Edwards Chief Commercial Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 6
Slide 7: Strong Net Product Revenue Growth in Q2
Strong Net Product Revenue Growth in Q2 Net Product Revenues $M 30.9 • Healthy sequential sales growth continues 21.6 13.6 • 43% QoQ growth in Q2 6.5 • GTN improvement with blended GTN for the Quarter 15.0 17.3 in the high 50’s 13.5 8.1 • Expect continued volume growth in 2H with modest Q3 '23 Q4 '2
Slide 8: Strong TRx Growth for ZORYVE Portfolio
Strong TRx Growth for ZORYVE Portfolio - Reaching ~10,000 Weekly TRx 11,000 10,000 9,000 Foam Launch 8,000 WEEKLY TRX 7,000 TRx Growth 6,000 vs. Q1’24 vs. Q2’23 5,000 Q2 2024 Q2’24 4,000 42% 258% 3,000 2,000 1,000 0 2023 2024 Data Source: ZORYVE – IQVIA Xponent data. US Sales only ©Copyright 2024. A
Slide 9: TRx Growing in Both ZORYVE Cream 0.3% & Foam 0.3%
TRx Growing in Both ZORYVE Cream 0.3% & Foam 0.3% ZORYVE Cream 0.3% ZORYVE Foam 0.3% 5,000 5,000 4,000 4,000 WEEKLY TRx WEEKLY TRx 3,000 3,000 2,000 2,000 1,000 1,000 0 2023 2024 0 2024 13-Oct 10-Nov 8-Dec 5-Jan 2-Feb 1-Mar 29-Mar 26-Apr 24-May 21-Jun 5-Jan 2-Feb 1-Mar 29-Mar 26-Apr 24-May 21-Jun Cr
Slide 10: Strong Performance in ZORYVE Cream & Foam Overall Coverage
Strong Performance in ZORYVE Cream & Foam Covered Scripts ZORYVE Cream & Foam Reaching Exceptional Commercial Access for Cream & Foam Overall Coverage Creating Provider Confidence in Prescribing ~4 ZORYVE Cream 0.3% Prescriptions of 5 Covered by Insurance > 125 Million ~3 ZORYVE Foam Prescriptions C
Slide 11: ZORYVE 0.3% Cream Value Proposition in PsO
Foundational ZORYVE 0.3% Cream Value Proposition in PsO Continues to Resonate With Patients & Prescribers ZORYVE, a once-daily steroid-free cream with the power to clear elbows and knees, and the gentleness for face and folds – makes it an attractive treatment choice for PsO management “ZORYVE provi
Slide 12: ZORYVE Foam Value Proposition in Seborrheic Dermatitis
Transformational ZORYVE Foam Value Proposition in Seborrheic Dermatitis Shows in the Real-World Balance of Potential Foam as Used once efficacy, new the optimal a day safety, and standard- vehicle tolerability of-care “ZORYVE has provided me with comprehensive relief, addressing not only the visible
Slide 13: Incremental Value Proposition of ZORYVE Cream Differentiated vs Available Topicals
Incremental Value Proposition of ZORYVE Cream Differentiated vs Available Topicals TRx Share of Overall AD Treatments June ‘23 – June ‘24 No Boxed Warning 80% 68% No Limitations on BSA 60% No Limitations on Duration of Use % of TRx 40% Non-steroidal Topicals, 19% Well-tolerated 20% 14% 12% No Penetr
Slide 14: ZORYVE is Unique in Dermatology, With Multiple Formulations & Indications
ZORYVE is Unique in Dermatology, With Multiple Formulations & Indications Plaque Psoriasis Seborrheic Dermatitis Atopic Dermatitis 9M Patients 10M Patients 26M Patients ZORYVE Cream 0.3% ZORYVE Foam 0.3% ZORYVE Cream 0.15% Rapid, Reliable Relief Anywhere Rapid Itch Relief Once-daily steroid-free top
Slide 15: Kowa Collaboration an Important Growth Driver
Kowa Collaboration an Important Growth Driver PCP targets identified for high ZORYVE potential Dedicated focus on ZORYVE Synergies with dermatology strategy • Branding and promotional messaging • Product & PA process training • Access to samples • Access to dermatologists for peer-to-peer speaker pr
Slide 16: Speakers & Agenda: R&D Update
Speakers & Agenda R&D Update Patrick Burnett, MD, PhD, FAAD Chief Medical Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 16
Slide 17: Continued Success with Clinical and Regulatory Milestones
Continued Success with Clinical and Regulatory Milestones Key Accomplishments / Milestones Indication Timing FDA Approval of ZORYVE Cream Down to the Age of 6 Plaque PsO Seborrheic FDA Approval of ZORYVE Foam Down to the Age of 9 Dermatitis Positive INTEGUMENT-PED Topline in Ages 2-5 Atopic Dermatit
Slide 18: ZORYVE Foam Addresses Unmet Needs in Scalp PsO
ZORYVE Foam Addresses Unmet Needs in Scalp PsO ZORYVE foam ideal for scalp and body psoriasis • Reliable clearance of plaques • Rapid and robust impact on itch ~40% • Once-daily single treatment for all areas of the body • Suitable for chronic use of Plaque Psoriasis • Foam is well-suited for hair-b
Slide 19: ARRECTOR Pivotal Phase Trial
ARRECTOR Pivotal Phase 3 Trial Improvement in Scalp and Body Psoriasis at Week 8 Eligibility • Aged ≥12y Roflumilast foam • Diagnosis of scalp and 0.3% QD (n=281) 100% 2:1 body plaque psoriasis 90% • At least Moderate 80% 66.4% severity on scalp (S-IGA*) P < 0.0001 Patients, % (97.5% CI) 70% and Mil
Slide 20: Speakers & Agenda: Financial Results
Speakers & Agenda David Topper Financial Results Chief Financial Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 20
Slide 21: Q2 2024 Financial Results
Q2 2024 Financial Results GAAP Reported $ Millions, Except Net Loss Per YoY QoQ Q2 2024 Q2 2023 Q1 2024 Share Change Change Product Revenues, Net $30.9 4.8 26.1 21.6 9.3 Other Revenues 0.0 0.4 (0.4) 28.0 (28.0) Total Revenues $30.9 5.2 25.7 49.6 (18.7) Cost of Sales 3.5 0.8 2.7 3.3 0.2 R&D Expense 1
Slide 22: Strong Cash Position Heading into 2H '24
Strong Cash Position Heading into 2H ‘24 $ Millions, except average shares GAAP Reported Cash Flow & Balance Sheet Data Q2 2024 Cash, Cash Equivalents, and Marketable securities (Jun. 30, 2024) $363.1 Net cash used in operating activities 45.1 Long-term debt, net (Jun. 30, 2024)1 203.8 Weighted aver
Slide 23: Debt Amendment Provides Operating Flexibility
Debt Amendment Provides Operating Flexibility • Extends maturity from 1/1/27 to 8/1/29 • Significant decrease in interest expense, interest rate decrease of 150 basis points • Ability to repay up to $100M in Q4 ‘24 with the option to re-draw part or all through 1H 2026, saves additional interest exp
Slide 24: Thank You Q&A
Thank You Frank Watanabe Todd Edwards President & CEO Chief Commercial Officer Patrick Burnett, MD, PhD, FAAD David Topper Chief Financial Officer Q&A Chief Medical Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. All rights reserved. Presentation designed for an investor audience. 24
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