Arcutis Biotherapeutics reported strong Q3 2024 financial results, with total revenue reaching $44.8 million, up from $38.1 million in Q3 2023. Product revenue surged to $44.8 million, primarily driven by ZORYVE cream 0.3% ($22.0 million), ZORYVE foam ($20.3 million), and the newly launched ZORYVE cream 0.15% ($2.5 million). The net loss narrowed to $41.5 million from $44.8 million year-over-year.Operating expenses increased to $83.8 million from $75.0 million in Q3 2023, with selling, general and administrative expenses rising to $58.8 million. Research and development costs decreased to $19.5 million from $26.2 million, reflecting the completion of Phase 3 studies. The company maintained a strong liquidity position with $331.2 million in cash, cash equivalents and marketable securities as of September 30, 2024.In October 2024, Arcutis made a partial debt prepayment of $100 million, reducing its outstanding loan balance to $100 million. The company expanded its commercial reach through a co-promotion agreement with Kowa Pharmaceuticals for primary care and pediatric markets, and received Health Canada approval for ZORYVE foam. Management expects continued growth driven by its expanded product portfolio and strategic partnerships.

Arcutis Biotherapeutics reported strong Q3 2024 financial results, with total revenue reaching $44.8 million, up from $38.1 million in Q3 2023. Product revenue surged to $44.8 million, primarily driven by ZORYVE cream 0.3% ($22.0 million), ZORYVE foam ($20.3 million), and the newly launched ZORYVE cream 0.15% ($2.5 million). The net loss narrowed to $41.5 million from $44.8 million year-over-year.Operating expenses increased to $83.8 million from $75.0 million in Q3 2023, with selling, general and administrative expenses rising to $58.8 million. Research and development costs decreased to $19.5 million from $26.2 million, reflecting the completion of Phase 3 studies. The company maintained a strong liquidity position with $331.2 million in cash, cash equivalents and marketable securities as of September 30, 2024.In October 2024, Arcutis made a partial debt prepayment of $100 million, reducing its outstanding loan balance to $100 million. The company expanded its commercial reach through a co-promotion agreement with Kowa Pharmaceuticals for primary care and pediatric markets, and received Health Canada approval for ZORYVE foam. Management expects continued growth driven by its expanded product portfolio and strategic partnerships.