Loading...
•
Sep 30, 2022
Arcutis Q3 2022 Earnings Report
Arcutis reported third quarter 2022 financial results and provided a business update.
Key Takeaways
Arcutis Biotherapeutics reported product revenues of $0.7 million related to sales of ZORYVE. The company's net loss was $107.7 million, or $1.89 per share. They ended the quarter with approximately $480 million in cash, cash equivalents, and marketable securities.
Launched ZORYVE® (roflumilast) cream 0.3% for the treatment of plaque psoriasis in adolescents and adults in mid-August, achieving net revenues of $0.7 million for the third quarter
ZORYVE now covered by one of the top pharmacy benefit managers and a large national health plan
Announced positive topline results from pivotal Phase 3 trial of roflumilast foam in scalp and body psoriasis
Completed acquisition of Ducentis BioTherapeutics Ltd.
Forward Guidance
Arcutis is focused on the commercial success of ZORYVE and the continued development of their pipeline assets.
Positive Outlook
- Continued demand growth as formulary coverage builds.
- Potential approval of roflumilast foam for seborrheic dermatitis.
- Advancing early pipeline assets like ARQ-255 into the clinic.
- Potential best-in-class profile in moderate-to-severe atopic dermatitis from ARQ-234.
- Potential differentiation of ARQ-234.
Challenges Ahead
- Risks inherent in the clinical development process and regulatory approval process
- Uncertainty of future commercial sales and related items that can impact net sales
- Ability to defend intellectual property
- Timing of regulatory filings
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...