Arcutis Q3 revenue $44.8M (+452% YoY); net loss narrows to $41.5M

Arcutis Biotherapeutics, Inc.

2024-Q3 EPS reported -$1.08 revenue$125,182,000

ZORYVE franchise revenue $44.8M ($22.0M cream 0.3%, $20.3M foam 0.3%, $2.5M cream 0.15%), up 45% QoQ.
Net loss $41.5M ($0.33/sh) vs $44.8M ($0.73/sh) in Q3 '23; operating cash burn improved 23% QoQ to $34.7M.
Blended gross-to-net improved to low 50% range from high 50% last quarter; approaching steady state for foam.
Amended $200M SLR loan: lower rate, maturity extended to Aug '29; prepaid $100M on Oct 8, 2024.
sNDA for ZORYVE foam in scalp/body psoriasis accepted; PDUFA May 22, 2025. Health Canada approval for foam in SD received.

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