$Arcutis Biotherapeutics (ARQT.US)$ NEWS Positive Q1 2024 ne...
NEWS
Positive
Q1 2024 net product revenues of $21.6M, a 675% increase from Q1 2023.
ZORYVE cream and foam contributed $15M and $6.5M to revenues respectively.
Significant demand for ZORYVE products with 208,000 cream prescriptions and 46,000 foam prescriptions.
Raised $172.5M from a public offering.
Strategic licensing agreement in Japan with Sato Pharmaceutical.
FDA accepted sNDA for roflumilast cream for atopic dermatitis with a PDUFA date of July 7, 2024.
Cash, cash equivalents, restricted cash, and marketable securities of $404.5M as of March 31, 2024.
Negative
Net loss of $35.4M for Q1 2024, though an improvement from $80.1M in Q1 2023.
Increased SG&A expenses of $54.8M, primarily due to sales and marketing related to product launches.
R&D expenses of $23.1M, though reduced from $35.3M in Q1 2023.
Cost of sales increased to $3.3M from $0.8M in Q1 2023.
Q1 2024 net product revenues of $21.6M, a 675% increase from Q1 2023.
ZORYVE cream and foam contributed $15M and $6.5M to revenues respectively.
Significant demand for ZORYVE products with 208,000 cream prescriptions and 46,000 foam prescriptions.
Raised $172.5M from a public offering.
Strategic licensing agreement in Japan with Sato Pharmaceutical.
FDA accepted sNDA for roflumilast cream for atopic dermatitis with a PDUFA date of July 7, 2024.
Cash, cash equivalents, restricted cash, and marketable securities of $404.5M as of March 31, 2024.
Negative
Net loss of $35.4M for Q1 2024, though an improvement from $80.1M in Q1 2023.
Increased SG&A expenses of $54.8M, primarily due to sales and marketing related to product launches.
R&D expenses of $23.1M, though reduced from $35.3M in Q1 2023.
Cost of sales increased to $3.3M from $0.8M in Q1 2023.
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