Shares of Arcutis Biotherapeutics Inc. (ARQT) surged 8.36% in after-hours trading on Tuesday following the release of the company's strong fourth quarter 2024 financial results. The biopharmaceutical company's performance was driven by better-than-expected revenue and earnings, fueled by rapidly growing sales of its flagship product ZORYVE across multiple indications.

For the fourth quarter, Arcutis reported net product revenue of $69.4 million, a staggering 413% increase compared to the prior year quarter. Total revenues came in at $71.4 million, beating analysts' estimates of $60.16 million. On the profitability front, the company reported a loss of $0.09 per share, significantly better than the consensus estimate of a $0.24 loss.

The stellar results were underpinned by the company's robust commercial execution and strong demand for ZORYVE, a topical PDE4 inhibitor approved for plaque psoriasis, atopic dermatitis, and seborrheic dermatitis. ZORYVE is now the most prescribed branded non-steroidal topical treatment across these three major inflammatory skin conditions in the United States.