Zoryve sales drive strong first quarter for Arcutis

Key takeaways:

• Arcutis reported net sales of $21.6 million for Zoryve in the first quarter of 2024.
• A net loss of $35.4 million was an improvement from $80.1 million in 2023’s first quarter.

Arcutis Biotherapeutics reported Zoryve net sales of $21.6 million in the first quarter of 2024, the company announced in a press release.

Zoryve (roflumilast 0.3%) sales rose from $2.8 million in the first quarter of 2023. The topical treatment’s cream formulation brought in the most revenue at $15 million, with $6.5 million attributed to its foam formula.

This was a 675% sales increase compared with the first quarter of 2023 and a 59% increase from the year’s final quarter.

“Our strong performance in the first quarter, with the incredibly well received launch of Zoryve foam for seborrheic dermatitis and continued growth of Zoryve cream in psoriasis, reinforces the demand for new and novel steroid-free treatment options and physician adoption of the Zoryve portfolio,” Frank Watanabe, Arcutis president and CEO, said in the release.

The company had a net loss of $35.4 million, or 32 cents per share, for the quarter, compared with $80.1 million, or $1.31 per share, for 2023’s first quarter.

Research and development costs decreased from $35.3 million to $23.1 million for the corresponding time period in 2023, with selling, general and administrative expenses increasing from $42.9 million to $54.8 million.

In addition to the revenue from Zoryve, the company also reported $28 million in revenue relating to upfront and milestone payments from collaboration and licensing agreements with Sato Pharmaceutical and Huadong Pharmaceutical.

In addition to Zoryve, which is currently under FDA review for an additional indication in atopic dermatitis, Arcutis is also developing ARQ-255, a topical suspension of the Janus kinase inhibitor ivarmacitinib for potentially treating alopecia areata, and ARQ-234, a fusion protein for the possible treatment of atopic dermatitis.