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Dec 31, 2024
Arcutis Q4 2024 Earnings Report
Arcutis Biotherapeutics reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Arcutis Biotherapeutics demonstrated strong financial performance in Q4 2024, with significant increases in total revenues and net product revenue for ZORYVE, driven by robust demand and strategic market access. The company also made progress in its product pipeline and debt management.
Q4 2024 net product revenue for ZORYVE was $69.4 million, a 413% increase compared to Q4 2023 and a 55% increase compared to Q3 2024.
Total revenues for Q4 2024 were $71.4 million, compared to $13.5 million for the corresponding period in 2023.
Net loss for Q4 2024 was $10.8 million, a significant improvement from $66.3 million in Q4 2023.
ZORYVE is now the most prescribed branded non-steroidal topical treatment across three major inflammatory skin conditions combined in the United States.
Arcutis
Arcutis
Forward Guidance
The company anticipates continued growth for ZORYVE, further expansion of Medicaid and Medicare coverage, and progression of its pipeline candidates.
Positive Outlook
- Aim to obtain Medicaid coverage in additional states and some Medicare coverage for ZORYVE cream 0.3% during 2025.
- Anticipate continued improvement in coverage for ZORYVE cream 0.15% in atopic dermatitis during 2025.
- Expected target action date in Q4 2025 for sNDA for ZORYVE cream 0.05% for atopic dermatitis in children ages 2 to 5.
- PDUFA action date set for May 22, 2025, for ZORYVE foam for scalp and body psoriasis.
- Data expected in H1 2025 for Phase 1b study evaluating ARQ-255 for alopecia areata.
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 and potential approvals.
- Timing, expenses, and success of commercialization efforts.