Arcutis Biotherapeutics(US:ARQT)2025-05-06 20:01Revenue Performance - Q1 2025 net product revenue for ZORYVE was $63.8 million, a 196% increase compared to Q1 2024, but a 2% decrease from Q4 2024[4] - Total revenues for Q1 2025 reached $65.846 million, a 32.7% increase from $49.569 million in Q1 2024[26] - Product revenue, net, significantly increased to $63.846 million from $21.569 million, marking a 196.5% growth year-over-year[26] Expenses - Selling, general, and administrative expenses for Q1 2025 were $64.0 million, up from $54.8 million in Q1 2024, primarily due to increased compensation and personnel-related expenses[15] - Operating expenses totaled $90.375 million, up from $81.191 million, reflecting an increase of 11.5%[26] - Research and development expenses decreased to $17.5 million in Q1 2025 from $23.1 million in Q1 2024, attributed to reduced clinical development costs[14] - Research and development expenses decreased to $17.543 million from $23.141 million, a reduction of 24.2%[26] - Other income, net, was $2.730 million, down from $4.044 million, a decrease of 32.4%[26] - Interest expense decreased significantly to $(2.982) million from $(7.480) million, a reduction of 60.1%[26] Net Loss - The company reported a net loss of $25.1 million, or $0.20 per share, for Q1 2025, compared to a net loss of $35.4 million, or $0.32 per share, for Q1 2024[16] - The net loss for Q1 2025 was $25.060 million, an improvement compared to a net loss of $35.382 million in Q1 2024, representing a 29.2% reduction[26] - Net loss per share improved to $(0.20) from $(0.32) year-over-year[26] Product Demand and Development - Demand for ZORYVE cream 0.3% in plaque psoriasis grew with over 425,000 prescriptions filled since launch, reflecting high patient and physician satisfaction[8] - ZORYVE cream 0.15% for atopic dermatitis has filled over 69,000 prescriptions since launch, with coverage by the three largest national Pharmacy Benefit Managers[8] - The company submitted a supplemental New Drug Application for ZORYVE cream 0.05% for treating atopic dermatitis in children ages 2 to 5, with a PDUFA action date of October 13, 2025[8] - The company has a PDUFA action date of May 22, 2025, for ZORYVE foam 0.3% for treating plaque psoriasis of the scalp and body[4] Legal Matters - The patent litigation against Padagis was stayed, with the court cancelling all case deadlines, including the trial[4] Cash Position - Cash, cash equivalents, and marketable securities totaled $198.7 million as of March 31, 2025, down from $228.6 million at the end of 2024[16] Share Information - The weighted-average shares used in computing net loss per share increased to 126,036,862 from 111,048,525, an increase of 13.5%[26]