Loading...
•
Sep 30, 2023
Arcutis Q3 2023 Earnings Report
Arcutis reported total revenues of $38.1 million for the third quarter of 2023, with ZORYVE net product revenues increasing by 70% compared to the second quarter of 2023 and FDA approval for the expanded indication of ZORYVE in plaque psoriasis down to the age of 6.
Key Takeaways
Arcutis Biotherapeutics, Inc. reported financial results for the quarter ended September 30, 2023. The company achieved total revenues of $38.1 million, driven by a 70% increase in ZORYVE net product revenues compared to the previous quarter. The FDA approved ZORYVE for an expanded indication in plaque psoriasis. The company also strengthened its balance sheet with a $100 million follow-on offering.
Total revenues for Q3 2023 reached $38.1 million.
ZORYVE net product revenues increased by 70% compared to Q2 2023, reaching $8.1 million.
FDA approved ZORYVE for expanded indication in plaque psoriasis down to the age of 6.
A $100 million follow-on offering strengthened the balance sheet.
Forward Guidance
Arcutis anticipates continued strong net product revenue growth in the fourth quarter and acceleration into 2024, driven by potential approvals and launches of topical roflumilast for seborrheic dermatitis and atopic dermatitis, as well as further expansion of payer coverage.
Positive Outlook
- Continued strong net product revenue growth expected in Q4 2023.
- Acceleration of revenue growth anticipated into 2024.
- Potential approvals and launches of topical roflumilast for seborrheic dermatitis and atopic dermatitis.
- Expected further expansion of payer coverage.
- Anticipates further GTN improvement in the fourth quarter of 2023.
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...