Arcutis Biotherapeutics (ARQT) IPO Opens at 36% Higher

Today's IPO for Arcutis Biotherapeutics (NASDAQ: ARQT) opened for trading at $23.05 after pricing 9,375,000 shares of its common stock at a price to the public of $17.00 per share.

Goldman Sachs & Co. LLC, Cowen and Company, LLC and Guggenheim Securities, LLC are acting as bookrunning managers for the proposed offering. Cantor Fitzgerald & Co. is acting as lead manager for the offering.

Arcutis is a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology. Arcutis exploits recent innovations in inflammation and immunology to develop potential best-in-class therapies against validated biological targets, leveraging our deep development, formulation and commercialization expertise to bring to market novel dermatology treatments, while maximizing our probability of technical success and financial resources. Arcutis is currently developing three novel compounds (ARQ-151, ARQ-154 and ARQ-252) for multiple indications, including psoriasis, atopic dermatitis, seborrheic dermatitis and eczema.

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