Arcutis Announces Pricing of $150 Million Public Offering

Core Viewpoint - Arcutis Biotherapeutics, Inc. has announced a public offering of common stock, pricing at $9.50 per share, aiming to raise approximately $150 million to support its dermatology programs and general corporate purposes [1][2]. Group 1: Offering Details - Arcutis is offering 15,789,474 shares of common stock, with an additional option for underwriters to purchase up to 2,368,421 shares within 30 days [1]. - The offering is expected to close on March 4, 2024, pending customary conditions [1]. - The offering is made under an effective shelf registration statement filed with the SEC on January 31, 2024 [3]. Group 2: Use of Proceeds - The net proceeds will be utilized for the commercialization, development, and approval of programs targeting atopic dermatitis and scalp psoriasis, as well as for working capital and other corporate purposes [2]. Group 3: Company Overview - Arcutis Biotherapeutics is a commercial-stage biopharmaceutical company focused on immuno-dermatology, with a portfolio that includes two FDA-approved products [5]. - The company aims to address the needs of patients with immune-mediated dermatological diseases through innovative therapies [5]. - Arcutis has a robust pipeline with multiple clinical programs for inflammatory dermatological conditions, including psoriasis and atopic dermatitis [5].