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Sep 30, 2020
Arcutis Q3 2020 Earnings Report
Arcutis reported financial results for the third quarter of 2020 and provided a business update.
Key Takeaways
Arcutis Biotherapeutics reported a net loss of $38.2 million for the quarter ended September 30, 2020. The company's cash, cash equivalents, and marketable securities totaled $189.7 million as of September 30, 2020, and they believe that their current cash, cash equivalents and marketable securities at over $300 million will be sufficient to fund its operations into 2022.
Pivotal Phase 3 data in plaque psoriasis is anticipated in the first quarter of 2021.
Pivotal Phase 3 trials in atopic dermatitis are anticipated to begin in late 2020 or early 2021.
Positive Phase 2 data in seborrheic dermatitis supports pipeline advancement in indication that impacts 10 million patients in the U.S.
The company has a strong financial position with over $300 million in cash, cash equivalents, and marketable securities, providing cash runway into 2022.
Forward Guidance
This press release contains forward-looking statements regarding the potential for its topical drugs in development to address large markets with significant unmet need, expectations with regard to the timing of data events anticipated during 2020/2021, and the Company’s belief that its current cash, cash equivalents and marketable securities will be sufficient to fund its operations into 2022.
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