On 1/6/2020, Arcutis Biotherapeutics filed the paperwork for their $100 Million IPO. The Westlake Village, CA based company is focused on developing and commercializing treatments for dermatological diseases with high unmet medical needs. The company intends to trade on NASDAQ under the symbol, “ARQT."
Arcutis' current portfolio is comprised of topical treatments with significant potential to address immune-mediated dermatological diseases and conditions, or immuno-dermatology. The treatments are intended to address conditions such as plaque psoriasis, atopic dermatitis, eczema, vitiligo, alopecia, areata, and seborrheic dermatitis.
The company's lead product candidate, ARQ-151, is in Phase 3 clinical trials in plaque psoriasis. ARQ-151 is a topical cream formulation of roflumilast, a highly potent and selective phosphodiesterase type 4, or PDE4, inhibitor, which Arcutis is developing for the treatment of plaque psoriasis, including psoriasis in intertriginous regions such as the groin, axillae and inframammary areas, as well as atopic dermatitis. The company has begun enrolling two Phase 3 trials in plaque psoriasis, with topline data expected in the first half of 2021.
The company intends to use the proceeds of the offering to fund R&D related to their three candidates (ARQ-151, ARQ-154, ARQ-252). Any remaining funds will be used for working capital and general expenses.
Since its founding in 2016, Arcutis has raised approximately $160 million. Previous investors include: Bain Capital Life Sciences, BlackRock, Frazier Healthcare Partners, Goldman Sachs, HBM Healthcare Investments, Hillhouse Capital Group, Omega Funds, OrbiMed, Pivotal BioVentures, RA Capital Management, Rainbow Group Capital Management and Vivo Capital.