Arcutis Biotherapeutics Added to Nasdaq Biotechnology Index

Rhea-AI Summary

Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) has been added to the NASDAQ Biotechnology Index effective December 21, 2020. This inclusion, based on criteria such as market capitalization and trading volume, aligns Arcutis with prominent biotech entities, enhancing its visibility and credibility in the market. As a late-stage biopharmaceutical company, Arcutis specializes in developing treatments for immune-mediated dermatological conditions, with a robust pipeline of four novel drug candidates, including topical roflumilast aimed at addressing multiple skin disorders.

Positive

• Inclusion in the NASDAQ Biotechnology Index enhances visibility and credibility.
• Strong pipeline with four novel drug candidates targeting serious skin diseases.

Negative

• None.

WESTLAKE VILLAGE, Calif., Dec. 21, 2020 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology, today announced that it has been selected for inclusion in the NASDAQ Biotechnology Index (Nasdaq: NBI), based on the results of the annual reconstitution of the index announced by Nasdaq on December 11, 2020. The inclusion will become effective prior to the U.S. market open on Monday, December 21, 2020.

The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on the NASDAQ Stock Market that are classified as either biotechnology or pharmaceutical companies, and is a modified market capitalization weighted index. According to NASDAQ, the NBI is reconstituted annually in December in accordance with a set of eligibility criteria including minimum market capitalization and average daily trading volume. The index currently has 198 securities as its components. For more information about the NBI, please visit https://indexes.nasdaqomx.com/index/overview/nbi.

About Arcutis - Bioscience, applied to the skin.
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology. The company is leveraging recent advances in immunology and inflammation to develop differentiated therapies against biologically validated targets to solve persistent treatment challenges in serious diseases of the skin. Arcutis’ robust pipeline includes four novel drug candidates currently in development for a range of inflammatory dermatological conditions. The company’s lead product candidate, topical roflumilast, has the potential to revitalize the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis. For more information, visit www.arcutis.com or follow the company on LinkedIn and Twitter.

Investors and Media:
Heather Rowe Armstrong
Vice President, Investor Relations & Corporate Communications
harmstrong@arcutis.com
805-418-5006, Ext. 740

FAQ

What does Arcutis Biotherapeutics do?

Arcutis Biotherapeutics focuses on developing treatments for immune-mediated dermatological diseases.

When did Arcutis get included in the NASDAQ Biotechnology Index?

Arcutis was included in the NASDAQ Biotechnology Index effective December 21, 2020.

What is the significance of being included in the NASDAQ Biotechnology Index?

Inclusion in the NASDAQ Biotechnology Index enhances visibility, credibility, and potentially attracts more investors.

What is the stock symbol for Arcutis Biotherapeutics?

The stock symbol for Arcutis Biotherapeutics is ARQT.

What are some of the drug candidates in Arcutis' pipeline?

Arcutis has four novel drug candidates, including topical roflumilast for treating conditions like plaque psoriasis.