The following is a summary of the Arcutis Biotherapeutics, Inc. (ARQT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• In Q3 2024, Arcutis Biotherapeutics reported robust revenue growth with net product revenues of approximately $45 million, a 452% increase from Q3 2023 and 45% increase from Q2 2024.

• The company has achieved 40% quarter-over-quarter growth in revenue every quarter since Q1 2023.

Business Progress:

• Arcutis expanded the ZORYVE portfolio to include psoriasis, seborrheic dermatitis, and atopic dermatitis, with multiple formulations like creams and foams.

• New and expanded indications are expected for ZORYVE including scalp and body psoriasis by mid-2025, and pediatric use in atopic dermatitis and psoriasis.

• Partnerships with Kowa to promote ZORYVE to primary care doctors and pediatricians are expected to begin contributing significantly in 2025.

• The company has achieved top-ranking in new prescription market share among branded topical anti-inflammatory agents with plans to become the leading brand.

Opportunities:

• Arcutis is working on securing access for ZORYVE across commercial, Medicare, and Medicaid coverages, expecting to tap into over 3 million additional patients.

• With successful penetration in commercial markets and expansion into government-insured populations, the company aims to serve a broader demographic, targeting 16 million annual topical steroid prescriptions with ZORYVE as a safer, effective alternative.

Risks:

• The projected slow initial uptake in primary care and pediatrics can affect planned growth rates due to the lengthier selling cycle in these new markets.

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