Arcutis showcases positive PhIII data showing its topical cream scratched the sweet spot Otezla or steroids couldn't

The goal at Arcutis Biotherapeutics $ARQT had been clear and straightforward from day 1: to prove that it can take existing compounds against well established dermatology targets and make reformulations that hit a sweet spot not yet scratched by any of its myriad blockbuster, generic or experimental rivals.

The first proof came Monday in the form of positive topline results from a pair of pivotal Phase III trials. Investors reacted cheerfully, sending the stock up 28.14% to $34.97.