Arcutis Announces Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
Arcutis Biotherapeutics (ARQT) reported strong Q4 2024 financial results, with ZORYVE® net product revenue reaching $69.4 million, a 413% increase year-over-year and 55% increase quarter-over-quarter. Full-year 2024 ZORYVE revenue was $166.5 million, up 471% from 2023.
ZORYVE has become the most prescribed branded non-steroidal topical treatment across three major inflammatory skin conditions in the US, with over 360,000 prescriptions filled for cream 0.3% and 246,000 for foam formulation. The company submitted an sNDA for ZORYVE cream 0.05% for atopic dermatitis in children ages 2-5.
Q4 2024 financial highlights include total revenues of $71.4 million and a reduced net loss of $10.8 million ($0.09 per share). The company ended 2024 with $228.6 million in cash and equivalents, and made a $100 million partial debt prepayment with re-draw capability.
Arcutis Biotherapeutics (ARQT) ha riportato risultati finanziari solidi per il quarto trimestre del 2024, con il fatturato netto del prodotto ZORYVE® che ha raggiunto 69,4 milioni di dollari, un aumento del 413% rispetto all'anno precedente e del 55% rispetto al trimestre precedente. Il fatturato totale di ZORYVE per l'intero anno 2024 è stato di 166,5 milioni di dollari, in aumento del 471% rispetto al 2023.
ZORYVE è diventato il trattamento topico non steroideo a marchio più prescritto per tre principali condizioni infiammatorie della pelle negli Stati Uniti, con oltre 360.000 prescrizioni per la crema allo 0,3% e 246.000 per la formulazione in schiuma. L'azienda ha presentato una sNDA per la crema ZORYVE allo 0,05% per la dermatite atopica nei bambini di età compresa tra 2 e 5 anni.
I punti salienti finanziari del quarto trimestre del 2024 includono ricavi totali di 71,4 milioni di dollari e una perdita netta ridotta di 10,8 milioni di dollari (0,09 dollari per azione). L'azienda ha chiuso il 2024 con 228,6 milioni di dollari in contante e equivalenti, e ha effettuato un pagamento parziale del debito di 100 milioni di dollari con possibilità di riutilizzo.
Arcutis Biotherapeutics (ARQT) reportó resultados financieros sólidos para el cuarto trimestre de 2024, con ingresos netos del producto ZORYVE® alcanzando 69,4 millones de dólares, un aumento del 413% en comparación con el año anterior y un incremento del 55% en comparación con el trimestre anterior. Los ingresos totales de ZORYVE para todo el año 2024 fueron de 166,5 millones de dólares, un aumento del 471% en comparación con 2023.
ZORYVE se ha convertido en el tratamiento tópico no esteroideo de marca más prescrito para tres principales condiciones inflamatorias de la piel en los EE. UU., con más de 360,000 recetas llenadas para la crema al 0.3% y 246,000 para la formulación en espuma. La compañía presentó una sNDA para la crema ZORYVE al 0.05% para la dermatitis atópica en niños de 2 a 5 años.
Los aspectos destacados financieros del cuarto trimestre de 2024 incluyen ingresos totales de 71,4 millones de dólares y una pérdida neta reducida de 10,8 millones de dólares (0,09 dólares por acción). La compañía terminó 2024 con 228,6 millones de dólares en efectivo y equivalentes, y realizó un prepago parcial de deuda de 100 millones de dólares con capacidad de re-draw.
Arcutis Biotherapeutics (ARQT)는 2024년 4분기 재무 결과를 발표하며, ZORYVE®의 순매출이 6,940만 달러에 달했고, 이는 전년 대비 413% 증가했으며, 분기 대비 55% 증가한 수치입니다. 2024년 전체 ZORYVE 수익은 1억 6,650만 달러로, 2023년 대비 471% 증가했습니다.
ZORYVE는 미국에서 세 가지 주요 염증성 피부 질환에 대한 가장 많이 처방된 비스테로이드성 브랜드 국소 치료제가 되었으며, 0.3% 크림에 대해 360,000건 이상의 처방이 발행되었고, 폼 제형에 대해서는 246,000건이 발행되었습니다. 이 회사는 2-5세 아토피 피부염 환자를 위한 ZORYVE 0.05% 크림에 대한 sNDA를 제출했습니다.
2024년 4분기 재무 하이라이트에는 총 수익 7,140만 달러와 감소된 순손실 1,080만 달러 (주당 0.09달러)가 포함됩니다. 이 회사는 2024년을 2억 2,860만 달러의 현금 및 현금성 자산으로 마감했으며, 재대출 가능성을 가진 1억 달러의 부분 채무 선지급을 수행했습니다.
Arcutis Biotherapeutics (ARQT) a annoncé des résultats financiers solides pour le quatrième trimestre 2024, avec un chiffre d'affaires net du produit ZORYVE® atteignant 69,4 millions de dollars, soit une augmentation de 413 % par rapport à l'année précédente et de 55 % par rapport au trimestre précédent. Le chiffre d'affaires total de ZORYVE pour l'année 2024 s'élevait à 166,5 millions de dollars, en hausse de 471 % par rapport à 2023.
ZORYVE est devenu le traitement topique non stéroïdien de marque le plus prescrit pour trois principales conditions inflammatoires de la peau aux États-Unis, avec plus de 360 000 prescriptions remplies pour la crème à 0,3 % et 246 000 pour la formulation en mousse. L'entreprise a soumis une sNDA pour la crème ZORYVE à 0,05 % pour la dermatite atopique chez les enfants de 2 à 5 ans.
Les points saillants financiers du quatrième trimestre 2024 comprennent des revenus totaux de 71,4 millions de dollars et une perte nette réduite de 10,8 millions de dollars (0,09 dollar par action). L'entreprise a terminé 2024 avec 228,6 millions de dollars en liquidités et équivalents, et a effectué un remboursement partiel de la dette de 100 millions de dollars avec possibilité de réutilisation.
Arcutis Biotherapeutics (ARQT) hat starke Finanzzahlen für das vierte Quartal 2024 berichtet, wobei der Nettoumsatz des Produkts ZORYVE® 69,4 Millionen Dollar erreichte, was einem Anstieg von 413 % im Vergleich zum Vorjahr und 55 % im Vergleich zum Vorquartal entspricht. Der Gesamtumsatz von ZORYVE für das Jahr 2024 betrug 166,5 Millionen Dollar, was einem Anstieg von 471 % gegenüber 2023 entspricht.
ZORYVE ist die am häufigsten verschriebene nicht-steroidale topische Behandlung für drei große entzündliche Hauterkrankungen in den USA geworden, mit über 360.000 ausgestellten Rezepten für die Creme mit 0,3 % und 246.000 für die Schaumformulierung. Das Unternehmen hat eine sNDA für die ZORYVE-Creme mit 0,05 % bei atopischer Dermatitis bei Kindern im Alter von 2 bis 5 Jahren eingereicht.
Die finanziellen Höhepunkte des vierten Quartals 2024 umfassen Gesamterlöse von 71,4 Millionen Dollar und einen reduzierten Nettoverlust von 10,8 Millionen Dollar (0,09 Dollar pro Aktie). Das Unternehmen schloss das Jahr 2024 mit 228,6 Millionen Dollar an Bargeld und Barmitteln ab und leistete eine Teilrückzahlung der Schulden in Höhe von 100 Millionen Dollar mit Rückgriffsmöglichkeit.
- ZORYVE Q4 revenue up 413% YoY to $69.4M
- Full year revenue increased 471% to $166.5M
- Became #1 prescribed branded non-steroidal topical treatment
- Net loss decreased significantly to $10.8M from $66.3M YoY
- Strong insurance coverage with three largest PBMs
- 360,000+ prescriptions filled for cream and 246,000+ for foam
- Operating cash burn of $112.2M for full year 2024
- Cash position decreased to $228.6M from $272.8M YoY
- SG&A expenses increased 24% to $229.4M for full year
- Still operating at a net loss
Insights
Arcutis Biotherapeutics (ARQT) has delivered exceptional Q4 and full-year 2024 results that signal a clear inflection point in the company's commercial trajectory. Q4 net product revenue reached
Full-year revenue of
The company's financial metrics show dramatic improvement toward profitability:
- Q4 net loss narrowed to
$10.8 million ($0.09 per share) from$66.3 million ($0.72 per share) in Q4 2023 - Q4 operating cash burn was just
$0.7 million , compared to full-year burn of$112.2 million , indicating the business is approaching cash flow breakeven - Strategic
$100 million debt prepayment with re-draw option balances interest expense reduction with maintaining financial flexibility
The improving gross-to-net (GTN) profile for both ZORYVE cream and foam products indicates strengthening pricing power and reimbursement terms. Coverage by the three largest PBMs creates a solid foundation for continued prescription growth, while expanded Medicaid coverage in Ohio and Illinois opens additional patient populations.
The company's multi-pronged growth strategy is particularly compelling:
- Expanding ZORYVE cream 0.3% in plaque psoriasis (360,000+ prescriptions to date)
- Growing ZORYVE cream 0.15% in atopic dermatitis (33,000+ prescriptions since launch)
- Scaling ZORYVE foam 0.3% in seborrheic dermatitis (246,000+ prescriptions)
- Pending FDA decision for ZORYVE foam in scalp/body psoriasis (May 2025)
- sNDA submission for pediatric atopic dermatitis (ages 2-5)
With
The prescription metrics and revenue trajectory suggest Arcutis has successfully established ZORYVE as a differentiated treatment option with sustainable growth potential across multiple dermatological indications.
Arcutis Biotherapeutics' financial results reflect the remarkable clinical success of ZORYVE (roflumilast), which has established itself as the leading non-steroidal topical therapy across three inflammatory skin conditions. This represents a significant paradigm shift in dermatological treatment approaches, where corticosteroids have long dominated despite their well-documented limitations for chronic use.
The PDE4 inhibition mechanism of ZORYVE offers several clinically important advantages over traditional topicals:
- No risk of skin atrophy, striae, or HPA axis suppression (unlike steroids)
- Minimal irritation compared to vitamin D analogs or retinoids
- No black box warnings (unlike topical calcineurin inhibitors)
- Safe for sensitive areas and for continuous long-term use
- Once-daily application improving treatment adherence
Arcutis' strategic development of multiple formulations and concentrations demonstrates sophisticated understanding of clinical needs. The 0.3% cream formulation for plaque psoriasis (with 360,000+ prescriptions) provides sufficient potency for the thicker plaques characteristic of psoriasis. The 0.15% cream for atopic dermatitis (33,000+ prescriptions since launch) balances efficacy with tolerability for the more sensitive skin of AD patients.
Perhaps most innovative is the 0.3% foam formulation (246,000+ prescriptions), which elegantly solves the long-standing challenge of effectively delivering topical medications to hair-bearing regions in seborrheic dermatitis. The pending indication for scalp psoriasis addresses another difficult-to-treat area where patient satisfaction with current options is notoriously low.
The pediatric development program (0.05% cream for ages 2-5) is particularly significant given the safe options for young children with atopic dermatitis. The lower concentration addresses safety concerns while providing effective disease control for this vulnerable population.
Beyond ZORYVE, Arcutis' pipeline demonstrates commitment to mechanistic diversity in inflammatory dermatology:
- ARQ-255 (topical JAK1 inhibitor) for alopecia areata targets follicular inflammation with a novel suspension formulation designed for penetration to the hair follicle
- ARQ-234 (CD200R checkpoint agonist) represents a pioneering approach to immune modulation in atopic dermatitis
The prescription volumes across indications confirm that ZORYVE's real-world effectiveness matches its clinical trial efficacy profile. The rapid adoption by over 14,000 prescribers for the psoriasis cream formulation indicates strong physician confidence in its safety-efficacy profile.
Arcutis has successfully addressed multiple inflammatory dermatological conditions with variations of a single active ingredient - an efficient development strategy that leverages clinical experience across indications while meeting the specific needs of different patient populations and anatomical regions.
Arcutis Biotherapeutics' Q4 and full-year 2024 results demonstrate exceptional commercial execution, with ZORYVE emerging as a major disruptive force in the dermatology market. The
ZORYVE has achieved remarkable market penetration across three substantial indications:
- Plaque psoriasis (~8 million U.S. patients): 360,000+ prescriptions since launch
- Atopic dermatitis (~16 million U.S. patients): 33,000+ prescriptions since launch of 0.15% formulation
- Seborrheic dermatitis (~10 million U.S. patients): 246,000+ prescriptions for the foam formulation
These prescription volumes are particularly impressive considering ZORYVE competes in a crowded market against entrenched generic corticosteroids, vitamin D analogs (calcipotriene), and calcineurin inhibitors (tacrolimus, pimecrolimus). In atopic dermatitis specifically, ZORYVE outperforms Pfizer's Eucrisa (crisaborole), the previous leading non-steroidal topical, demonstrating superior efficacy and tolerability.
Arcutis' market access strategy has been exceptionally effective, securing coverage with all three major PBMs while steadily improving gross-to-net (GTN) margins. The company's statement that ZORYVE cream 0.3% has "reached its steady state GTN" suggests they've optimized rebate structures and formulary positioning. This commercial execution has translated to dramatically improved financial metrics:
- Q4 net loss narrowed to
$10.8 million from$66.3 million year-over-year - Q4 operating cash burn of just
$0.7 million indicates imminent cash flow breakeven - SG&A expenses increased proportionally less than revenue growth, demonstrating operational leverage
The company's multi-pronged growth strategy creates several potential catalysts for 2025-2026:
- Expanded Medicaid coverage (recently added Ohio and Illinois)
- Potential Medicare coverage expansion in 2025
- FDA decision on ZORYVE foam for scalp/body psoriasis (PDUFA: May 22, 2025)
- Potential pediatric atopic dermatitis approval (ages 2-5) in late 2025
- International expansion beginning with Canada (launched December 2024)
- Celebrity partnership with Odell Beckham Jr. raising seborrheic dermatitis awareness
The Huadong and Sato licensing agreements (generating
With
WESTLAKE VILLAGE, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) --
- Q4 2024 net product revenue for ZORYVE® (roflumilast) was
$69.4 million , a413% increase compared to Q4 of 2023 and a55% increase compared to Q3 of 2024; driven by strong portfolio demand growth and including a non-recurring adjustment of$4.1 million due to a reduction in reserves for product returns - Full Year 2024 net product revenue for ZORYVE was
$166.5 million , an increase of471% over the prior year, setting the stage for sustained growth and strong financial position in 2025 - ZORYVE is now the most prescribed branded non-steroidal topical treatment across three major inflammatory skin conditions combined in the United States
- Supplemental New Drug Application (sNDA) for ZORYVE (roflumilast) cream,
0.05% , submitted to the Food and Drug Administration (FDA) for the treatment of atopic dermatitis in children ages 2 to 5 - Made a partial prepayment of
$100 million of principal on$200 million of then outstanding debt with the ability to re-draw it in whole or in part
WESTLAKE VILLAGE, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) – Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported financial results for the quarter and year ended December 31, 2024, and provided a business update.
“Our success in 2024 was driven by growing ZORYVE momentum, including commercial launches for two new indications for ZORYVE, and our pricing and access strategy that led to strong commercial and government reimbursement. ZORYVE is the number one prescribed branded non-steroidal topical, due to its compelling value proposition of effectively and safely relieving multiple inflammatory skin conditions anywhere on the body for any duration,” said Frank Watanabe, president and chief executive officer. “We are also continuing to advance our product pipeline and, along with strong stewardship of our financial resources and management of expenses, we believe we are well positioned to realize our mission of addressing unmet needs and the lack of innovation in medical dermatology.”
Program Updates / Key Milestones
ZORYVE cream - a highly potent and selective phosphodiesterase-4 (PDE4) inhibitor in a once-daily cream formulation, approved in the United States for the treatment of plaque psoriasis and atopic dermatitis.
- U.S. demand for ZORYVE cream
0.3% in plaque psoriasis continues to grow, with over 360,000 prescriptions filled since launch by over 14,000 unique prescribers, reflecting the high levels of patient and physician satisfaction with the ZORYVE cream clinical profile. ZORYVE cream is covered by the three largest Pharmacy Benefit Managers (PBMs) and multiple other commercial insurers, and during the quarter the Company expanded its Medicaid coverage to two additional states, Ohio and Illinois. The Company aims to obtain Medicaid coverage in additional states, as well as some Medicare coverage, during 2025. ZORYVE cream0.3% saw significant gross-to-net (GTN) improvement in 2024 and has reached its steady state GTN. - Initial launch of ZORYVE cream
0.15% in atopic dermatitis has been strong with over 33,000 prescriptions filled since launch, and is covered as a line extension by two of the largest national PBMs. The Company anticipates continued improvement in coverage during 2025. - The Company submitted an sNDA for ZORYVE cream
0.05% to the FDA for the treatment of atopic dermatitis in children ages 2 to 5 with an anticipated target action date in Q4 of 2025, if accepted as submitted.
ZORYVE foam - a once-daily foam formulation of topical roflumilast designed to overcome the challenges of delivering topical drugs in hair-bearing areas of the body, approved in the United States for the treatment of seborrheic dermatitis, and under FDA review for scalp and body psoriasis.
- Demand for ZORYVE foam,
0.3% in seborrheic dermatitis continues to grow robustly each quarter, with over 246,000 prescriptions filled since launch, reflecting the high unmet need in this disease. ZORYVE foam is also covered by the three largest PBMs and has steadily improved coverage over the course of 2024. ZORYVE foam has gained Medicaid coverage in line with ZORYVE cream0.3% and is nearing a steady state GTN. - The Company submitted an sNDA for ZORYVE foam for scalp and body psoriasis to the FDA based on the positive results from the pivotal ARRECTOR Phase 3 trial and a Phase 2b trial, which was accepted by the FDA in September with a PDUFA action date set for May 22, 2025.
ARQ-255 - a topical suspension formulation of ivarmacitinib, a potent and highly selective topical Janus kinase type 1 (JAK1) inhibitor, designed to preferentially deliver the drug deep into the hair follicle, in order to potentially treat alopecia areata at the site of inflammation.
- In September 2024, the Company announced that it completed enrollment in a Phase 1b study evaluating ARQ-255 for the treatment of alopecia areata, with data expected in H1 2025.
ARQ-234 - a fusion protein that is a potent and highly selective checkpoint agonist of the CD200 Receptor (CD200R), being developed as a potential biologic treatment in atopic dermatitis.
- The Company has continued preclinical development efforts and is working towards submitting an Investigational New Drug application in 2025.
Recent Corporate Highlights
- In October 2024, the Company made a partial prepayment of
$100 million of principal on$200 million of then outstanding debt. The Company amended the$200 million term-loan with SLR Investment Corp. in August 2024, obtaining an option to prepay up to$100 million of the principal and re-draw it in whole or in part, at the Company’s discretion. - In October 2024, Health Canada approved ZORYVE® (roflumilast) foam
0.3% for the treatment of seborrheic dermatitis in individuals 9 years of age and older, and the Company commenced sales in December. - In November 2024, ZORYVE cream
0.15% received Glamour’s 2024 Health and Wellness Award for "Best Eczema Product". - Obtained one new U.S. patent in Q4 2024 related to topical roflumilast compositions.
- In February 2025, announced a partnership with the iconic professional football player Odell Beckham Jr., to help raise awareness of seborrheic dermatitis and share his positive experience with ZORYVE foam.
Fourth Quarter and Full Year 2024 Summary Financial Results
Total revenues for the quarter ended December 31, 2024 were
Cost of sales for the quarter ended December 31, 2024 were
Research and development (R&D) expenses for the quarter ended December 31, 2024 were
Selling, general, and administrative (SG&A) expenses for the quarter ended December 31, 2024 were
Net loss was
Cash, cash equivalents, restricted cash, and marketable securities were
Conference Call and Webcast
Arcutis management will host a conference call and webcast today at 4:30 PM ET to discuss the financial results for the quarter and year and provide a business update. The webcast for this conference call may be accessed at the “Events” section of the Company’s website. The replay of the webcast will be available on the Arcutis website following the call.
About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis has a growing portfolio including three FDA approved products that harness our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including scalp and body psoriasis, atopic dermatitis, and alopecia areata. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, Instagram, and X.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For example, statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential to address large markets with significant unmet need; the development, approval and potential commercialization of product candidates; the potential commercial success and growth of ZORYVE in plaque psoriasis, seborrheic dermatitis, and atopic dermatitis, including market access and reimbursement, product demand growth and developments regarding GTN; and the timing of regulatory filings and potential approvals. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, the timing, expenses, and success of our commercialization efforts, including uncertainty of future commercial sales and related items that can impact net sales, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 25, 2025, as well as any subsequent filings with the SEC. Any forward-looking statements that the company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.
Contacts:
Media
Amanda Sheldon, Head of Corporate Communications
media@arcutis.com
Investors
Latha Vairavan, VP Finance and Corporate Controller
ir@arcutis.com
| ARCUTIS BIOTHERAPEUTICS, INC. CondensedConsolidated Balance Sheets (In thousands) | |||||||
| December 31, | December 31, | ||||||
| 2024 | 2023 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 71,335 | $ | 88,398 | |||
| Restricted cash | 617 | 925 | |||||
| Marketable securities | 156,620 | 183,463 | |||||
| Trade receivable, net | 73,066 | 25,807 | |||||
| Inventories | 14,526 | 13,134 | |||||
| Prepaid expenses and other current assets | 19,656 | 18,704 | |||||
| Total current assets | 335,820 | 330,431 | |||||
| Property and equipment, net | 1,041 | 1,539 | |||||
| Intangible assets, net | 9,479 | 6,438 | |||||
| Operating lease right-of-use asset | 1,953 | 2,361 | |||||
| Other assets | 596 | 596 | |||||
| Total assets | $ | 348,889 | $ | 341,365 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 14,220 | $ | 11,992 | |||
| Accrued liabilities | 65,973 | 33,941 | |||||
| Operating lease liability | 820 | 735 | |||||
| Total current liabilities | 81,013 | 46,668 | |||||
| Operating lease liability, noncurrent | 2,562 | 3,382 | |||||
| Long-term debt, net | 107,203 | 201,799 | |||||
| Other long-term liabilities | 570 | 849 | |||||
| Total liabilities | 191,348 | 252,698 | |||||
| Stockholders’ equity: | |||||||
| Common stock | 12 | 9 | |||||
| Additional paid-in capital | 1,279,479 | 1,070,558 | |||||
| Accumulated other comprehensive loss | (7 | ) | 4 | ||||
| Accumulated deficit | (1,121,943 | ) | (981,904 | ) | |||
| Total stockholders’ equity | 157,541 | 88,667 | |||||
| Total liabilities and stockholders’ equity | $ | 348,889 | $ | 341,365 | |||
| ARCUTIS BIOTHERAPEUTICS, INC. Condensed Consolidated Statements of Operations (In thousands, except share and per share data) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (unaudited) | |||||||||||||||
| Revenues: | |||||||||||||||
| Product revenue, net | $ | 69,360 | $ | 13,526 | $ | 166,542 | $ | 29,186 | |||||||
| Other revenue | 2,000 | — | 30,000 | 30,420 | |||||||||||
| Total revenues | 71,360 | 13,526 | 196,542 | 59,606 | |||||||||||
| Operating expenses: | |||||||||||||||
| Cost of sales | 6,905 | 2,246 | 19,128 | 4,987 | |||||||||||
| Research and development | 14,480 | 23,775 | 76,420 | 110,575 | |||||||||||
| Selling, general, and administrative | 57,607 | 48,674 | 229,391 | 185,145 | |||||||||||
| Total operating expenses | 78,992 | 74,695 | 324,939 | 300,707 | |||||||||||
| Loss from operations | (7,632 | ) | (61,169 | ) | (128,397 | ) | (241,101 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Other income, net | 2,718 | 2,672 | 16,173 | 11,786 | |||||||||||
| Interest expense | (5,551 | ) | (7,762 | ) | (27,168 | ) | (29,712 | ) | |||||||
| Loss before income taxes | (10,465 | ) | (66,259 | ) | (139,392 | ) | (259,027 | ) | |||||||
| Provision for income taxes | $ | 323 | $ | 25 | $ | 647 | $ | 3,113 | |||||||
| Net loss | $ | (10,788 | ) | $ | (66,284 | ) | $ | (140,039 | ) | $ | (262,140 | ) | |||
| Per share information: | |||||||||||||||
| Net loss per share, basic and diluted | $ | (0.09 | ) | $ | (0.72 | ) | $ | (1.16 | ) | $ | (3.78 | ) | |||
| Weighted-average shares used in computing net loss per share, basic and diluted | 124,918,560 | 92,580,106 | 120,957,633 | 69,305,487 | |||||||||||
FAQ
What was ZORYVE's revenue growth in Q4 2024 compared to Q4 2023?
How many ZORYVE prescriptions have been filled since launch for plaque psoriasis?
What is the status of ARQT's sNDA submission for pediatric atopic dermatitis?
How much cash does ARQT have as of December 31, 2024?
What was ARQT's net loss in Q4 2024?
