Arcutis Biotherapeutics closes underwritten public offering of 8.625M shares at $20, net proceeds ~$161.7M

Arcutis Biotherapeutics, Inc.

Sold 7.5M shares plus full exercise of over-allotment of 1.125M shares at $20 per share.
Net proceeds approximately $161.7M after underwriting discounts and expenses.
Proceeds to fund development, approval, commercial launch for ZORYVE and general corporate purposes.
Underwriters include Morgan Stanley, Cowen, Guggenheim Securities.

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