Summary by Moomoo AI
Arcutis Biotherapeutics, Inc. has filed a registration statement with the SEC for an at-the-market offering of common stock, aiming to raise up to $100 million. The shares will be sold through Cowen and Company, LLC, acting as the sales agent. The offering will be made under an amended and restated sales agreement, with shares sold at varying market prices. The proceeds are intended for general corporate purposes, continued product development, and commercial launch planning. The common stock is listed on the Nasdaq Global Select Market under the symbol 'ARQT'. The last reported sale price of Arcutis' common stock was $5.87 per share as of January 30, 2024. The offering's success and the actual number of shares sold will depend on market conditions.