Arcutis Biotherapeutics, Inc. · NASDAQ:ARQT
Arcutis Biotherapeutics — Q4 2023 Earnings Presentation
24 slides from Arcutis Biotherapeutics's earnings presentation, Feb 27, 2024
Slide 1: 4th Quarter 2023 Financial Results & Business Update
4th Quarter 2023 Financial Results & Business Update February 27, 2024
Slide 2: Legal Disclaimers
Legal Disclaimers This presentation and the accompanying oral presentation candidates, and our ability to serve those markets; our statements, whether written or oral, that may be made from time contain “forward-looking” statements that are based on our commercialization, marketing and manufacturing
Slide 3: Today's Speakers
Today’s Speakers Frank Watanabe Todd Edwards President & CEO Chief Commercial Officer John Smither Patrick Burnett, MD, PhD, FAAD Chief Financial Officer Chief Medical Officer (interim) ©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: Q4 Business Update – Foundation for Growth in 2024
Q4 Business Update – Foundation for Growth in 2024 ZORYVE® (roflumilast) cream 0.3% launch in PsO continuing to gain momentum with ~165,000 TRx launch-to-date; Q4 net product revenue of $13.5M and GTN % in the mid 60s FDA approval of ZORYVE (roflumilast) topical foam, 0.3% in seborrheic dermatitis f
Slide 6: Topical Roflumilast: Total Patient Opportunity Potential to Grow >10X
Topical Roflumilast: Total Patient Opportunity Potential to Grow >10X Dermatologist Treated Patients Commercial Patients Addressable Through PCP Partnership Addressable with Medicare/ Medicaid Coverage PCP = primary care providers ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designe
Slide 7: Speakers & Agenda: Commercial Update
Speakers & Agenda Commercial Update Todd Edwards Chief Commercial Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 7
Slide 8: ZORYVE Cream in PsO TRx Growth Strengthens
ZORYVE Cream in PsO TRx Growth Strengthens 4,500 4,000 3,500 TRx Growth 3,000 TRx vs. Q3’23 vs. Q4’22 WEEKLY TRX 2,500 Q4’23 26% 296% 2,000 Q4 2023 TRx 1,500 Q4 Refill Rate 1,000 39% Growth vs. Q3’23 500 0 2023 Data Source: ZORYVE – IQVIA Xponent data. Non-steroidal market basket includes Vitamin D
Slide 9: Prescriber Feedback on ZORYVE Cream for PsO
Prescriber Feedback on ZORYVE Cream for PsO Prescriber Top Reasons for ZORYVE Cream Top Use in Patient Types Using ZORYVE Cream in PsO Steroid concerned patient 88% Ability to use anywhere Once daily dosing Topical cycler patient 83% Compelling efficacy data Multiple treatment user patient 82% Favor
Slide 10: Progress Towards Sustained Growth of ZORYVE Cream in PsO
Progress Towards Sustained Growth of ZORYVE Cream in PsO Commercial Success Drive Prescriber Patient Engagement Broad, High- Awareness and Use and Positive Experience Quality Access • ~10,700 unique • 38% of Q4 volume were • ~132 million writers since re-fills commercial lives launch covered • Incre
Slide 11: ZORYVE Foam Offers a Unique Value Proposition in Seborrheic Dermatitis
ZORYVE Foam Offers a Unique Value Proposition in Seborrheic Dermatitis Balance of Potential Foam as Used once efficacy, new the optimal a day safety, and standard vehicle tolerability of care In STRATUM: • 95% of patients had scalp involvement a need that cannot be addressed with a cream or ointment
Slide 12: Prescribers View ZORYVE Foam's Profile Highly Compelling
Prescribers View ZORYVE Foam's Profile Highly Compelling Prescribers who say the Prescribers Perceptions on the Product Attributes Profile is Very Compelling / % Very Compelling / Compelling Compelling Can be used anywhere on the body 95% Reduces / eliminates itch 93% Application vehicle 90% Reduces
Slide 13: ZORYVE Foam Broad Access with National PBMs
ZORYVE Foam Broad Access with National PBMs ➢ Access secured with 3 National PBMs Patient ➢ ZORYVE Foam recognized as line extension within contracts ➢ Increased volume of covered Pharmacy prescriptions PBM Health Plan ➢ Ongoing work with downstream Health Plans ➢ ZORYVE Foam listed in key EMR platf
Slide 14: ZORYVE Foam Launch Underway
ZORYVE Foam Launch Underway HCP Relationships Contracted Access secured at in Place Pharmacy Network PBMs Field force actively dispensing Shipments to promotion active Seamless use of pharmacies continues co-pay card ©Copyright 2024. Arcutis Biotherapeutics, Inc. All rights reserved. Presentation de
Slide 15: 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. 15
Slide 16: Checking the List on Our Clinical and Regulatory Milestones
Checking the List on Our Clinical and Regulatory Milestones Key Accomplishments / Milestones Indication Timing FDA Approval of ZORYVE Cream down to the Age of 6 Plaque PsO FDA Approval of ZORYVE Foam down to the Age of 9 Seborrheic Dermatitis Positive INTEGUMENT-PED topline in Ages 2-5 Atopic Dermat
Slide 17: Over 90% of Roflumilast-treated Patients Demonstrated EASI Improvement
Over 90% of Roflumilast-treated Patients Demonstrated EASI Improvement in Pooled INTEGUMENT Trials* Pooled INTEGUMENT Trials (Roflumilast Cream 0.15%) 9.8% EASI-100 100 22.4% EASI (% Improvement from Baseline) EASI-90 44.5% 80 EASI-75 60 69.2% EASI-50 40 20 8.5% 0 1 51 101 151 201 251 301 351 401 45
Slide 18: Percentage of Patients Achieving Meaningful Itch Improvement (WI-NRS Success)
Percentage of Patients Achieving Meaningful Itch Improvement (WIN-NRS Success) at Week 8/ Week 4 50% Roflumilast cream 0.15% Vehicle cream 100% Roflumilast cream 0.3% Vehicle cream WEEK 8 50% WEEK 4 Roflumilast cream 0.15 Roflumilast foam 0.3% Vehicle foam 40% 31.9% Percentage of Patients (95% CI) *
Slide 19: Speakers & Agenda: Financial Results
Speakers & Agenda John Smither Chief Financial Officer Financial Results (interim) ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 19
Slide 20: Strong ZORYVE Net Product Revenue Growth in 2023
Strong ZORYVE Net Product Revenue Growth in 2023 Net Product Revenues $M • Healthy sequential demand growth continues 29.2 • 67% QoQ growth in Q4 • Driven by GTN % improvement in Q4; average % for the Q in 13.5 the mid 60s 8.1 4.8 • Expect further volume growth 2.8 in Q1 ’24, w/ slightly higher GTN
Slide 21: Q4 2023 Financial Results
Q4 2023 Financial Results GAAP Reported $ Millions, Except Net Loss Per Share Q4 2023 Q4 2022 YoY Change Product Revenues, Net $13.5 3.0 10.6 Other Revenues - - - Total Revenues 13.5 3.0 10.6 Cost of Sales 2.2 0.5 1.8 R&D Expense 23.8 33.9 (10.1) SG&A Expense 48.7 37.0 11.7 Total Operating Expense 7
Slide 22: FY 2023 Financial Results
FY 2023 Financial Results GAAP Reported $ Millions, Except Net Loss Per Share FY 2023 FY 2022 YoY Change Product Revenues, Net $29.2 3.7 25.5 Other Revenues 30.4 - 30.4 Total Revenues 59.6 3.7 55.9 Cost of Sales 5.0 0.8 4.2 R&D Expense 110.6 182.4 (71.9) SG&A Expense 185.1 122.1 63.0 Total Operating
Slide 23: Strong Cash Position Into 2024
Strong Cash Position Into 2024 $ Millions, except average shares GAAP Reported Cash Flow & Balance Sheet Data Q4 2023 Cash, Cash Equivalents, and Marketable securities (Dec. 31, 2023) $272.8 Net cash used in operating activities 56.2 Long-term debt, net (Dec. 31, 2023) 201.8 Weighted average shares
Slide 24: Thank You Q&A
Thank You Frank Watanabe Todd Edwards President & CEO Chief Commercial Officer Patrick Burnett, MD, PhD, FAAD John Smither Chief Financial Officer Q&A Chief Medical Officer (interim) ©Copyright 2024. Arcutis Biotherapeutics, Inc. All rights reserved. Presentation designed for an investor audience. 2
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