Arcutis Biotherapeutics, Inc. · NASDAQ:ARQT
Arcutis Biotherapeutics — Q1 2024 Earnings Presentation
24 slides from Arcutis Biotherapeutics's earnings presentation, May 14, 2024
Slide 1: 1st Quarter 2024 Financial Results & Business Update
1st Quarter 2024 Financial Results & Business Update May 14, 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: Q1 Business Update – On Track for Significant Growth in 2024
Q1 Business Update – On Track for Significant Growth in 2024 Q1 Portfolio net sales of $21.6M, grew 675% compared to Q1 2023 and 59% compared to Q4 2023 ZORYVE® (roflumilast) topical foam, 0.3% launch in Seb Derm with ~47,000 TRx launch-to-date; Q1 net product revenue of $6.5M ZORYVE® (roflumilast)
Slide 6: Topical Roflumilast: Total Patient Opportunity Potential to Grow >10X from PsO
Topical Roflumilast: Total Patient Opportunity Potential to Grow >10X from PsO Dermatologist Treated Patients Commercial Patients Addressable Through PCP Partnership Addressable with Medicare/ Medicaid Coverage PCP = primary care providers ©Copyright 2024. Arcutis Biotherapeutics, Inc. — Presentatio
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 Swiftly Rebounds
ZORYVE Cream in PsO TRx Growth Swiftly Rebounds Following Typical Annual Insurance Changes Annual insurance 5,000 changes & deductible resets 4,500 4,000 3,500 TRx Growth WEEKLY TRX 3,000 Q1 2024 TRx vs. Q4’23 vs. Q1’23 2,500 2,000 Q1’24 8% 120% 1,500 1,000 500 0 2023 2024 Data Source: ZORYVE – IQVI
Slide 9: ZORYVE Cream Value Proposition in PsO Resonates With Prescribers
ZORYVE Cream Value Proposition in PsO “Effective - Everywhere-Easy” Resonates With 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. Tolerable and safe Rapid
Slide 10: ZORYVE Foam Strong Initial Uptake
ZORYVE Foam Strong Initial Uptake 4,500 New Patients on ZORYVE Foam 4,000 ~47,000 TRx in <3 months Switched From Product 3,500 Topical Corticosteroids (TCS) Antifungal 3,000 ZORYVE Cream WEEKLY TRX All Others 2,500 2,000 33% 1,500 8% 12% 1,000 500 47% 0 5-Jan 12-Jan 19-Jan 26-Jan 2-Feb 9-Feb 16-Feb
Slide 11: Seborrheic Dermatitis Writers Overlap With Psoriasis Writers
Seborrheic Dermatitis Writers Overlap With Psoriasis Writers With Room to Expand Usage Dermatology Targets ~40% of ZORYVE Writers Have Written Cream & Foam Cream Foam Writers Continued Penetration of Writers Targets to Attain Full Potential ^^ of Foam ©Copyright 2024. Arcutis Biotherapeutics, Inc. —
Slide 12: ZORYVE Foam Launch Elicits Positive HCP Response
ZORYVE Foam Launch Elicits Positive HCP Response On the clinical side, I’ve been very pleased with The data is clear - you don’t ZORYVE foam so far. I’ve had some very happy need steroids and patients, and the coverage has been better than shampoos. expected! … When patients come in and we see seb d
Slide 13: ~70% of Commercial Patients have Access to ZORYVE Foam
~70% of Commercial Patients have Access to ZORYVE Foam Rapid Commercial Access Creating Provider ZORYVE Cream & Foam Reaching Exceptional Confidence in Prescribing Overall Coverage ~3 ZORYVE Cream Prescriptions in 4 Covered by Insurance > 104 Million Commercial Lives ZORYVE Foam Prescriptions with A
Slide 14: Multiple Formulations & Indications Create a Unique Portfolio for Sustained ZORYVE Growth
Multiple Formulations & Indications Create a Unique Portfolio for Sustained ZORYVE Growth Plaque Psoriasis Seborrheic Dermatitis Atopic Dermatitis 9M Patients 10M Patients 26M Patients ZORYVE Cream 0.3% ZORYVE Foam 0.3% ZORYVE Cream 0.15% Pending FDA Approval Effective, Easy, Everywhere One Foam, On
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 FDA Approval of ZORYVE Foam down to the Age of 9 Seborrheic Dermatitis Positive INTEGUMENT-PED topline in Ages 2-5 Atopic Dermatit
Slide 17: Onset of Action Observed as Early as Week 1
Onset of Action Observed as Early as Week 1 INTEGUMENT-PED (2-5 yo) EASI-75 WI-NRS Success P<0.0001 50% P=0.0002 50% P<0.0001 39.4% P=0.0004 35.3% 40% 40% 30.0% 27.7% % Patients (95% CI) % Patients (95% CI) P<0.0001 30% 20.6% 30% P=0.0004 18.0% 19.2% 20% 12.9% 20% 12.7% 14.9% 5.2% 10% 3.8% 10% 0% 0%
Slide 18: Rapid Response in AD Down to Age of 2 Years
Rapid Response in AD Down to Age of 2 Years INTEGUMENT-PED (2-5 yo) POOLED INTEGUMENT-1/2 (Ages 6+) EASI-75 WI-NRS Success EASI-75 WI-NRS Success P<0.0001 P<0.0001 50% P=0.0002 50% 39.4% 42.7% P<0.0001 35.3% 40% 40% 31.9% % Patients (95% CI) % Patients (95% CI) 30% 20.6% 30% 20.6% 20% 18.0% 20% 16.6
Slide 19: Unique Immunological and Molecular Profile of Seborrheic Dermatitis
Unique Immunological and Molecular Profile of Seborrheic Dermatitis Revealed in Collaborative Research Study Newly defined through first ever molecular profile research Inflammation/ Unique immunological profile of seb derm 1 Immune • Lack of Th2 dysregulation Dysregulation • Th1 and Th17/Th22 polar
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: Strong ZORYVE Portfolio Net Product Revenue Growth in Q1
Strong ZORYVE Portfolio Net Product Revenue Growth in Q1 Net Product Revenues $M • Healthy sequential sales 21.6 growth continues 6.5 • 59% QoQ growth in Q1 • GTN improvement despite Q1 deductible resets; blended 13.5 15.0 GTN for the Quarter in the low 8.1 60’s • Expect steady volume growth Q3 '23
Slide 22: Q1 2024 Financial Results
Q1 2024 Financial Results GAAP Reported $ Millions, Except Net Loss Per Share Q1 2024 Q1 2023 YoY Change Product Revenues, Net $21.6 2.8 18.8 Other Revenues 28.0 28.0 Total Revenues $49.6 2.8 46.8 Cost of Sales 3.3 0.8 2.5 R&D Expense 23.1 35.3 (12.2) SG&A Expense 54.8 42.9 11.9 Total Operating Expe
Slide 23: Strong Cash Position Supports Continued Investments
Strong Cash Position Supports Continued Investments $ Millions, except average shares GAAP Reported Cash Flow & Balance Sheet Data Q1 2024 Cash, Cash Equivalents, and Marketable securities (Mar. 31, 2024) $404.5 Net cash used in operating activities 31.6 Long-term debt, net (Mar. 31, 2024) 202.8 Wei
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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