CORRECTION – Arcutis Reports Second Quarter 2024 Financial Results, Provides Business Update

WESTLAKE VILLAGE, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) — In a press release issued earlier today under the same heading by Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), it is noted that in the Recent Company Highlights section, in the third bullet point, the extended expiration date should be August 2029, not June 2029. The corrected press release reads as follows:

• Second quarter net product revenues for the ZORYVE franchise of $30.9 million, with $17.3 million for ZORYVE (roflumilast) cream up 0.3% and $13.6 million for ZORYVE (roflumilast) topical foam, up 0.3%; revenue growth of 547% versus Q2 ’23 and 43% versus Q1 ’24
• Continued improvement in gross net (GTN) with blended GTN across products now in the high 50 percent range, an improvement from the low 60 percent range of the previous quarter
• Continued growth in prescriptions for both cream and foam, with total U.S. franchise unit demand up 42% quarter-over-quarter
• Has entered into a ZORYVE co-promotion agreement with Kowa Pharmaceuticals America, Inc., expanding promotional efforts to primary care and pediatric practices in the United States
• Supplemental New Drug Application (sNDA) submitted for ZORYVE (roflumilast) Foam to the Food & Drug Administration (FDA) for the treatment of scalp and body psoriasis in adults and adolescents 12 years of age and older
• Existing $200 million term loan amended on attractive terms to increase financial and strategic flexibility

Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immunodermatology, today reported financial results for the quarter ended June 30, 2024 and provided a business update.