Arcutis Biotherapeutics, Inc.

Arcutis Biotherapeutics, Inc. (ARQT) priced its initial public offering on Jan 31, 2020 at $17.00 per share, within its $15.00–$17.00 range, raising $159.4M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $622.7M. Goldman Sachs was lead-left underwriter, joined by TD Cowen, Guggenheim and Cantor. Fenwick & West advised the company and Latham & Watkins advised the underwriters.

Arcutis Biotherapeutics, Inc. is a late-stage biopharmaceutical company developing topical treatments for immune-mediated dermatological diseases. Its lead candidate, ARQ-151, a topical cream formulation of roflumilast, is in Phase 3 clinical trials for plaque psoriasis.

Status

IPO

Ticker

ARQT

Exchange

Nasdaq Global Select

Priced

Jan 31, 2020

IPO price

$17.00

Price range

$15.00–$17.00

Raised

$159.4M

Market cap at IPO price

$622.7M

First filed

Jan 6, 2020

Underwriters

Goldman Sachs, TD Cowen, Guggenheim and Cantor

Company counsel

Fenwick & West

Underwriters' counsel

Latham & Watkins

Sector

Biotech & pharma

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.