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Mar 31, 2022
Arcutis Q1 2022 Earnings Report
Arcutis reported financial results for the first quarter of 2022 and provided a business update.
Key Takeaways
Arcutis Biotherapeutics reported a net loss of $64.3 million for the quarter ended March 31, 2022. The company's cash, cash equivalents, and marketable securities totaled approximately $345 million. They are increasing commercial preparations for roflumilast cream and completed enrollment for roflumilast foam trials.
Increased commercial preparations for roflumilast cream in advance of the PDUFA action date of July 29, 2022.
Completed enrollment of Phase 3 trials of roflumilast foam in seborrheic dermatitis and scalp and body psoriasis.
Enrolling pivotal Phase 3 trials of roflumilast cream in atopic dermatitis.
Strong financial position with approximately $345 million in cash, cash equivalents, and marketable securities, providing cash runway into 2024.
Forward Guidance
Arcutis anticipates three Phase 3 topical roflumilast clinical readouts and a potential launch in plaque psoriasis for the balance of 2022.
Positive Outlook
- Potential treatment for plaque psoriasis and atopic dermatitis with Roflumilast cream.
- Alternative foam formulation of topical roflumilast for hair-bearing areas.
- Potential treatment for seborrheic dermatitis and scalp and body psoriasis with Roflumilast foam.
- Topical small molecule inhibitor of Janus kinase type 1 (JAK1) being developed for chronic hand eczema, vitiligo, and other inflammatory dermatoses.
- Reformulation efforts to develop an enhanced formulation of ARQ-252.
Challenges Ahead
- Risks inherent in the clinical development process and regulatory approval process.
- The timing of regulatory filings.
- The timing and expenses of commercialization efforts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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