Arcutis Biotherapeutics Inc. (ARQT) witnessed a significant pre-market surge of 9.18% on Wednesday, following the release of its impressive fourth quarter 2024 financial results.
The biopharmaceutical company's strong performance was fueled by robust sales growth of its flagship product ZORYVE, a topical PDE4 inhibitor approved for multiple inflammatory skin conditions. ZORYVE's net product revenue surged 413% year-over-year to $69.4 million in Q4, driven by growing demand across its approved indications of plaque psoriasis, atopic dermatitis, and seborrheic dermatitis.
ZORYVE has rapidly gained market share and is now the most prescribed branded non-steroidal topical treatment across these three major inflammatory skin conditions in the United States. The company's total revenue for Q4 came in at $71.4 million, beating analysts' estimates, while its reported loss per share also surpassed expectations.
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