Arcutis Biotherapeutics, Inc. · NASDAQ:ARQT
Arcutis Biotherapeutics — Q3 2024 Earnings Presentation
22 slides from Arcutis Biotherapeutics's earnings presentation, Nov 6, 2024
Slide 1: 3rd Quarter 2024 Financial Results & Business Update
3rd Quarter 2024 Financial Results & Business Update November 6, 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 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: Q3 Update – Another Quarter of Robust Growth
Q3 Update – Another Quarter of Robust Growth Q3 Portfolio net sales of $44.8M: +452% vs. Q3 '23 / +45 % vs. Q2 '24 ZORYVE® (roflumilast) franchise strong unit growth ~485,000 TRx launch-to-date; +25% TRx growth / +23% NRx growth QoQ Further GTN improvement - blended GTN now in low 50s Launch in AD g
Slide 6: Four Sizeable Tailwinds to Sustain ZORYVE Growth
Four Sizeable Tailwinds to Sustain ZORYVE Growth Steroid Indications Govt. Payor PCP/ Ped Conversion Expanding Expanding Expanding Penetrating the Label Coverage Prescriber Base Steroid Market PsO, Seb Derm, Commercial ~ 1 in 20 Topical Dermatology Only Rx's are Branded & AD Coverage Non-Steroids +
Slide 7: Progress in Expanding Total Patient Opportunity
Progress in Expanding Total Patient Opportunity Total U.S. ZORYVE Addressable Market Underway Dermatologist Treated Patients Millions of Patients Commercial Patients Underway Addressable through Kowa Partnership Addressable with Medicare/ Medicaid Coverage PCP = primary care providers ©Copyright 202
Slide 8: Speakers & Agenda: Commercial Update
Speakers & Agenda Commercial Update Todd Edwards Chief Commercial Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 8
Slide 9: Strong Net Product Revenue Growth in Q3
Strong Net Product Revenue Growth in Q3 Net Product Revenues $M 44.8 Cream 0.3 Foam Cream 0.15 +45% • Healthy sequential sales 2.5 growth continues +43% 30.9 20.3 • 45% QoQ growth in Q3 +59% 21.6 13.6 • GTN improvement with 6.5 blended GTN for the Quarter +67% 22.0 in the low 50s 15.0 17.3 8.1 13.5
Slide 10: Strong TRx Growth for ZORYVE Portfolio
Strong TRx Growth for ZORYVE Portfolio - Reaching ~11,000 Weekly TRx (rolling 4-week basis) Cream 0.15% (AD) 12000 Launch 11000 10000 9000 Foam Launch R4 WEEK WEEKLY TRX 8000 TRx Growth 7000 6000 vs. Q2’24 vs. Q3’23 Q3’24 5000 +25% +280% 4000 Q3 2024 3000 2000 1000 0 30-Aug 5-Jul 1-Sep 24-Nov 19-Jan
Slide 11: Robust Covered Prescription and GTN Improvement
Robust Covered Prescription and GTN Improvement ZORYVE Cream & Foam Reaching Exceptional Blended GTN Evolution Overall Covered Prescriptions Low 70s ~4 ZORYVE Cream 0.3% Prescriptions of 5 Covered by Insurance High 60s Low ZORYVE Cream 60s ~3 ZORYVE Foam 0.3% Prescriptions 0.3% only High of 4 Covere
Slide 12: ZORYVE NRx Takes Leading Share of Branded Topicals
ZORYVE NRx Takes Leading Share of Branded Topicals R-4 week NRx Share 50% 45% 40% 35% 30% Cream 0.15% 25% (AD) Launch 20% 15% Foam Launch 10% 5% 0% 11/3/23 12/3/23 1/3/24 2/3/24 3/3/24 4/3/24 5/3/24 6/3/24 7/3/24 8/3/24 9/3/24 10/3/24 Zoryve NRx Share VTAMA NRX Share OPZELURA NRx Share EUCRISA NRx S
Slide 13: Significant Opportunity to Convert Patients From Steroids and Antifungals
Significant Opportunity to Convert Patients From Steroids and Antifungals to ZORYVE* Plaque Seborrheic Atopic Psoriasis Dermatitis Dermatitis 2% 7% 5% 6% 16% 41% 57% 89% Steroids 77% Vit D analogs + Fixed Dose Combination Steroids Antifungals Branded Non-Steroidal Topicals Branded Non-Steroidal Topi
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: 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: 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 17: Improvement in Scalp and Body Pruritus at Week 8
Improvement in Scalp and Body Pruritus at Week 8 SI-NRS Score of 0 or 1a WI-NRS Score of 0 or 1b 100 Roflumilast Foam 0.3% (n=253) 100 Roflumilast Foam 0.3% (n=255) 90 Vehicle Foam (n=141) 90 Vehicle Foam (n=131) 80 80 % of Patients (97.5% CI) % of Patients (97.5% CI) 𝘗<0.0001 𝘗<0.0001 70 70 55.4…
Slide 18: Improvement in Patient With Psoriasis Treated With ZORYVE Foam 0.3%
Improvement in Patient With Psoriasis Treated With ZORYVE Foam 0.3% 56-year-old male, Black or African American/Not Hispanic or Latino S-IGA: 4; PSSI: 18; SI-NRS: 9 S-IGA: 3; PSSI: 18; SI-NRS: 4 S-IGA: 1; PSSI: 1; SI-NRS: 0 57-year-old male, White/Not Hispanic or Latino S-IGA: 4; PSSI: 55; SI-NRS: 8
Slide 19: Speakers & Agenda: Financial Results
Speakers & Agenda David Topper Financial Results Chief Financial Officer ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 19
Slide 20: Q3 2024 Financial Results
Q3 2024 Financial Results GAAP Reported $ Millions, Except Net Loss Per YoY QoQ Q3 2024 Q3 2023 Q2 2024 Share Change Change Product Revenues, Net $44.8 8.1 36.6 $30.9 13.9 Other Revenues 0.0 30.0 (30.0) 0.0 0.0 Total Revenues $44.8 38.1 6.6 $30.9 13.9 Cost of Sales 5.5 1.2 4.3 3.5 2.0 R&D Expense 19
Slide 21: Strong Cash Position Heading Into the End of the Year
Strong Cash Position Heading Into the End of the Year $ Millions, except average shares GAAP Reported Cash Flow & Balance Sheet Data Q3 2024 Cash, cash equivalents, and marketable securities (Sep. 30, 2024) $331.2 Net cash used in operating activities 34.7 Total debt, net (Sep. 30, 2024)1 204.6 Weig
Slide 22: 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. 22
Arcutis Biotherapeutics — Q3 2024 Earnings Presentation on 6ix