Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Q2 2023 Earnings Conference Call August 8, 2023 4:30 PM ET

Company Participants

Eric McIntyre - Head-Investor Relations

Frank Watanabe - President & Chief Executive Officer

Ayisha Jeter - Interim-Chief Commercial Officer

Patrick Burnett - Chief Medical Officer

Scott Burrows - Chief Financial Officer

Conference Call Participants

Tyler Van Buren - TD Cowen

Vikram Purohit - Morgan Stanley

Seamus Fernandez - Guggenheim Securities

Uy Ear - Mizuho

Louise Chen - Cantor

Sean Kim - JonesTrading

Rohit Bhasin - Needham

Operator

Good day and thank you for standing by. Welcome to the Arcutis Biotherapeutics Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference call is being recorded.

I would now like to hand the conference over to your speaker today, Eric McIntyre, Head of Investor Relations. Please go ahead.

Eric McIntyre

Thank you, Cory. Good afternoon, everyone and thank you for joining our Arcutis second quarter earnings call. Slides for today are available on the Investors section of our website.

On the call today, we have Frank Watanabe, President and CEO; Ayisha Jeter, our Interim Chief Commercial Officer; Patrick Burnett, Chief Medical Officer and Scott Burrows, Chief Financial Officer.

I'd remind everyone that we will be making forward-looking statements during this call. These statements are subject to certain risks and uncertainties, and actual results may differ materially. We encourage you to review the information disclosed in our latest SEC filings.

With that intro, I'll hand the call over to Frank.

Frank Watanabe

Thanks, Eric. And I'm going to make some brief introductory comments and then I'll turn it over to the experts here.

So I'm on slide 5 of the slide deck. I'm really proud that our team is effectively executing on our strategy to build the leading innovation-driven dermatology company. The ZORYVE launch is strengthening on all fronts laying solid foundation for sustained long-term growth.

Physician and patient feedback remains exceedingly positive and the launch is building momentum. We're really encouraged by our script growth as clinicians gain positive real-world experience with ZORYVE. And in Q2, we saw around 40% growth in TRxs versus Q1 and we've seen even further growth so far in Q3. And remember, we're just scratching the surface here on the broader topical steroid opportunity which is still roughly 20 times the size of the current nonsteroid market.