Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Q4 2023 Earnings Conference Call February 27, 2024 8:30 AM ET

Company Participants

Derek Cole - IR

Frank Watanabe - President and CEO

Todd Edwards - CCO

Patrick Burnett - CMO

John Smither - CFO

Conference Call Participants

Tyler Van Buren - TD Cowen

Uy Ear - Mizuho

Chris Shibutani - Goldman Sachs

Serge Belanger - Needham

Vikram Purohit - Morgan Stanley

Sean Kim - Jones Trading

Operator

Good day and welcome to the Arcutis Biotherapeutics' 2023 Fourth Quarter and Full Year Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to Derek Cole, Arcutis Investor Relations. Please go ahead.

Derek Cole

Thank you, Andrew. Good morning everyone and thank you for joining us today to review 2023 financial results and business update. Slides for today are available on the Investors section of the Arcutis website.

On the call today we have Frank Watanabe, President and CEO; Patrick Burnett, Chief Medical Officer; Todd Edwards, Chief Commercial 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. We encourage you to review all of the company's filings with the Securities and Exchange Commission, including descriptions of our business and risk factors.

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

Frank Watanabe

Thanks Derek. I'm now on Slide 5 of the deck. We've had a lot of really exciting progress since we last spoke for our Q3 earnings call, and I couldn't be more pleased with the Arcutis team and our execution in the quarter. We're more excited about the foundation these results laid out for progress in 2024.

We continue to see growing momentum in the ZORYVE cream launch in psoriasis as healthcare providers and their patients see how it addresses real needs in their treatment of psoriasis.

[Technical Difficulty] 165,000 prescriptions and over 10,700 unique prescribers to launch to-date as our product delivers positive clinical experience for HCPs and their patients.

We continue to make significant progress on our gross-to-net each quarter with improvement in Q4 over Q3 of a similar magnitude as seen Q3 over Q2, taking us to an average in the mid-60s for the fourth quarter.