WESTLAKE VILLAGE, Calif. - Arcutis Biotherapeutics, Inc. (NASDAQ: NASDAQ:ARQT), a company specializing in immuno-dermatology treatments, announced today the launch of a public offering of $150 million of its common stock and pre-funded warrants. The offering is subject to market conditions, and there is no certainty regarding its completion or the terms thereof.
Arcutis also plans to offer underwriters a 30-day option to buy an additional $22.5 million of common stock at the public offering price. Morgan Stanley, TD Cowen, and Guggenheim Securities are the joint lead bookrunning managers, while Mizuho and Needham & Company serve as co-lead managers.
The offering is being made under a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on January 31, 2024. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC's website and from the managing bookrunners.
Arcutis focuses on developing innovative therapies for dermatological conditions. With two FDA-approved products, the company has a growing portfolio aimed at addressing chronic skin conditions.
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