Arcutis Q2 product revenue $30.9M, up 547% YoY; net loss narrows to $52.3M

Arcutis Biotherapeutics, Inc.

2024-Q2 EPS reported -$0.75 revenue$80,427,000

ZORYVE franchise net product revenue $30.9M ($17.3M cream, $13.6M foam); 43% sequential growth.
Net loss $52.3M ($0.42/share) vs $71.0M loss in Q2 2023; cash $363.1M.
Entered co-promotion with Kowa Pharmaceuticals for primary care and pediatric promotion of ZORYVE.
Submitted sNDA for ZORYVE foam for scalp/body psoriasis; FDA approved cream 0.15% for atopic dermatitis.
Amended $200M term loan: rate reduced 150bps, maturity extended to June 2029, $100M prepay/re-draw option.

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