NASDAQ$ARQT
Arcutis Biotherapeutics Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Arcutis reported first quarter 2024 financial results and provided a business update.
Arcutis Biotherapeutics, Inc. reported strong first-quarter performance, driven by the successful launch of ZORYVE foam and continued growth of ZORYVE cream. Total revenues reached $49.6 million, including $21.6 million in product revenue and $28.0 million from collaboration agreements. The company's net loss was $35.4 million, and cash reserves remained strong at $404.5 million.
- ZORYVE franchise achieved net product revenues of $21.6 million, with $15 million from ZORYVE cream and $6.5 million from ZORYVE foam.
- Sales growth for ZORYVE franchise increased by 675% compared to Q1 2023 and 59% compared to Q4 2023.
- Gross-to-net (GTN) improved, with a blended GTN in the low 60 percent range.
- FDA has set a PDUFA action date of July 7, 2024, for roflumilast cream, 0.15%, for atopic dermatitis treatment.
Headline financials
Revenue & EPS history
Arcutis · Revenue · Quarterly
$49.6M
Forward guidance
Arcutis anticipates a transformative year in 2024, driven by the growth of ZORYVE cream and foam, a potential FDA approval for ZORYVE cream in atopic dermatitis, and a robust development pipeline.
Tailwinds
- Potential approval of roflumilast cream for atopic dermatitis with a PDUFA date of July 7, 2024.
- Submission of sNDA for scalp and body psoriasis in Q3 2024.
- Continued growth and market penetration of ZORYVE cream for psoriasis.
- Successful launch and uptake of ZORYVE foam for seborrheic dermatitis.
- GTN improvement throughout 2024 as GTN for the cream approaches steady state.
Headwinds
- Risks inherent in the clinical development process.
- Uncertainty of future commercial sales and related items that can impact net sales.
- Potential delays or rejections in regulatory approval process.
- Dependence on intellectual property and potential challenges to its defense.
- Competition from existing and future treatments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.8%
Avg return
Earnings day
+1.1%
Avg return
5 days after
-0.5%
Avg return
30 days after
64%
16 / 25 earnings
Positive
+27.2%
Q3 2025
Best reaction
-15.6%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.2% | -9.3% | -9.4% | |
| Q4 2025 | +5.7% | -12.6% | -21.4% | |
| Q3 2025 | +27.2% | +28.9% | +57.6% | |
| Q1 2025 | -4.6% | +0.5% | +0.3% | |
| Q4 2024 | +8.4% | +5.2% | +28.9% | |
| Q3 2024 | +11.8% | +16.6% | +33.3% | |
| Q2 2024 | -14.6% | -13.1% | +7.1% | |
| Q1 2024 | +15.6% | +15.1% | +16.9% | |
| Q4 2023 | +7.4% | +21.5% | +2.3% | |
| Q3 2023 | +5.4% | -0.9% | -10.4% | |
| Q2 2023 | -2.0% | -6.5% | -21.0% | |
| Q1 2023 | -15.6% | -29.3% | -29.8% | |
| Q4 2022 | +4.4% | -2.7% | -31.8% | |
| Q3 2022 | +0.6% | +3.1% | -8.4% | |
| Q2 2022 | +13.2% | +11.8% | +8.6% | |
| Q1 2022 | -11.8% | -14.1% | -3.5% | |
| Q4 2021 | +1.1% | +12.6% | +10.7% | |
| Q3 2021 | -7.5% | -6.9% | -35.6% | |
| Q2 2021 | +3.1% | +5.2% | +4.1% | |
| Q1 2021 | -3.4% | -1.8% | -23.1% | |
| Q4 2020 | -0.1% | +3.6% | -10.5% | |
| Q3 2020 | -3.8% | +8.9% | +37.1% | |
| Q2 2020 | +1.7% | +1.8% | -6.5% | |
| Q1 2020 | +0.0% | -4.6% | -4.6% | |
| Q4 2019 | +0.0% | -4.6% | -4.6% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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