Arcutis Announces Preliminary Unaudited Fourth Quarter Product Revenue and Full-Year 2024 Product Revenues of Approximately $63 Million and $160 Million

Financial Results and Business Update - The company will report complete fourth quarter and full-year 2024 financial results and provide a business update on February 25, 2025, after the US financial markets close [1] - A conference call and webcast will be hosted on the same day at 4:30 pm EST, with live webcast and presentation materials available on the company's website [1] - An archived replay of the webcast will be available on the Arcutis investor website following the conference call [1] Company Overview and Product Portfolio - Arcutis is a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology [3] - The company has a growing portfolio including three FDA-approved products that leverage its unique dermatology development platform and expertise [2] - The dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions [2] Preliminary Financial Information - Preliminary unaudited product revenue for the fourth quarter of 2024 is expected to be approximately $63 million, up 366$160 million, up 449% vs 2023 [6][9] - Revenue growth in the fourth quarter was driven by strong demand for all ZORYVE indications, while GTN was similar to the prior quarter [9] - Preliminary unaudited cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2024 are expected to be approximately $229 million [6][9] - The company repaid$100 million of its long-term debt held by SLR Investment Corp and has the option to re-draw approximately $100 million by the first half of 2026, making total liquidity as of December 31, 2024 approximately$329 million [9] Business Outlook and Strategy - The company anticipates sustained ZORYVE sales growth throughout 2025 as multiple product launches gain further traction and new approvals are secured [5] - Expansion of insurance coverage and broader access to primary care and pediatric practices through the commercial partnership with Kowa are expected to drive growth [5] - Management will host in-person investor meetings in San Francisco, CA, around the 43rd Annual J P Morgan Healthcare Conference, being held January 13-16, 2025 [5]