Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET

Company Participants

Eric McIntyre - Head of Investor Relations

Frank Watanabe - President and Chief Executive Officer

Todd Edwards - Chief Commercial Officer

Patrick Burnett - Chief Medical Officer

John Smither - Chief Financial Officer

Conference Call Participants

Tyler Van Buren - TD Cowen

Seamus Fernandez - Guggenheim Securities

Vikram Purohit - Morgan Stanley

Uy Ear - Mizuho

Chris Shibutani - Goldman Sachs

Sean Kim - JonesTrading

Operator

Good day, and welcome to the Arcutis Biotherapeutics Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference 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, Abigail. Good morning, everyone, and thank you for joining this morning to discuss our Q3 2023 financial results.

The slides for today are available on the Investors section of our website.

On the call this morning, we have Frank Watanabe, President and CEO; Todd Edwards, our Chief Commercial Officer; Patrick Burnett, Chief Medical Officer; and John Smither, 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 our actual results may differ.

With that, let me hand the call over to Frank. Frank?

Frank Watanabe

Thanks, Eric.

So, I'm on Slide 5 of the deck now. So, we're really pleased with the Arcutis team and our execution in the quarter. We made remarkable progress since the last time we spoke regarding our Q2 earnings.

Starting off with the ZORYVE launch in psoriasis, that continues to gain momentum, and we now have over 110,000 prescriptions and about 9,000 unique prescribers launched to date, as our product delivers positive clinical experience for healthcare providers and their patients. This positive tailwind sets us up to launch our future topical roflumilast formulations as well from a position of strength. We also saw significant gross net improvements in the quarter, averaging in the low 70%s for the quarter.

Once again, we had flawless execution against our clinical and regulatory milestones with a steady flow of successes this past quarter. Patrick will go in a lot more detail in his remarks, but during the quarter, we received FDA approval for an expanded psoriasis indication down to the age of six. We filed a supplemental NDA for atopic dermatitis down to the age of six, with an expected approval in early Q3 of 2024. We announced positive pivotal Phase III data for AD in the 2- to 5-year-old range, and we released some really exciting long-term data in AD that demonstrated efficacy continues with -- and actually improved with treatment with ZORYVE long-term up to 52 weeks, along with a very favorable long-term safety and dependable disease control.