v3.26.1
Organization and Description of Business
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of Business
Arcutis Biotherapeutics, Inc. (the Company) is a commercial-stage biopharmaceutical company focused on developing and commercializing treatments for dermatological diseases with high unmet medical needs. The Company’s strategy is to focus on validated biological targets and to use its drug development platform and deep dermatology expertise to develop differentiated products with the potential to address major shortcomings of existing therapies in its targeted indications.
The Company received U.S. Food and Drug Administration (FDA) approval of its first product, ZORYVE® (roflumilast) cream 0.3% (ZORYVE cream 0.3%), in July 2022 for the treatment of plaque psoriasis. Since that time, the Company has obtained regulatory approvals and commercially launched ZORYVE in various formulations to treat additional disease states, in additional concentrations for various age groups, and in both the United States and Canada. To date, ZORYVE has received regulatory approval and has been commercially launched, or is awaiting potential regulatory approval, as detailed below.
Product / Indication
ConcentrationRegionAge
Stage
2022202320242025
2026

ZORYVE cream for Plaque Psoriasis
0.3%
U.S.
> 12 yrs
Commercial launchAugust
0.3%Canada
> 12 yrs
Commercial launchJune
0.3%
U.S.
6 yrs -11 yrs
Commercial launch
October
0.3%
U.S.
2 yrs - 5 yrs
Commercial launch
June
0.3%
Canada
2 yrs - 12 yrs
SNDS accepted for reviewFebruary
ZORYVE foam for Seborrheic Dermatitis
0.3%
U.S.
> 9 yrs
Commercial launchJanuary
0.3%Canada
> 9 yrs
Commercial launch
November

ZORYVE cream for Atopic Dermatitis
0.15%
U.S.
> 6 yrs
Commercial launch
July
0.15%Canada
> 6 yrs
Commercial launch
April
0.05%
U.S.
2 yrs - 5 yrs
Commercial launch
October
0.05%
Canada
2 yrs - 5 yrs
SNDS accepted for reviewOctober
0.05%
U.S.
3 mos - 2 yrs
sNDA accepted for reviewJune
ZORYVE foam for Scalp & Body Psoriasis0.3%
U.S.
> 12 yrs
Commercial launch
June
0.3%Canada
> 12 yrs
Commercial launch
November
Liquidity
The Company has incurred significant annual losses and negative cash flows from operations since its inception and had an accumulated deficit of $1,134.4 million and $1,138.1 million as of June 30, 2026 and December 31, 2025, respectively. While the Company has generated net income in certain recent fiscal quarters, the extent of any net income or losses for future periods is uncertain, and the Company may continue to incur operating losses. The Company had cash, cash equivalents, restricted cash, and marketable securities of $238.9 million and $221.3 million as of June 30, 2026 and December 31, 2025, respectively. The Company had $100.0 million outstanding under a loan and security agreement, as amended, with SLR Investment Corp. (SLR) and the lenders party thereto as of June 30, 2026. See Note 8.
The Company believes that its existing capital resources will be sufficient to meet the projected operating requirements for at least 12 months from the date of issuance of its financial statements. If the Company's available cash, cash equivalents, and marketable securities and anticipated future cash flows from operations are insufficient to satisfy its liquidity requirements, the Company may need to raise additional capital to fund its operations. No assurance can be given as to whether additional financing will be available on terms acceptable to the Company or at all. If sufficient funds on acceptable terms are not available when needed, the Company may be required to curtail certain planned activities. Failure to manage discretionary spending or raise additional funds, as needed, may adversely impact the Company’s ability to achieve its intended business objectives and have an adverse effect on its results of operations and future prospects.