Arcutis Turns First Profit on Zoryve Surge, Lifts Outlook as Stock Jumps
Analysts say a pediatric label expansion with a new Kowa co-promotion should fuel near-term Zoryve gains.
Overview
- Zoryve generated $99.2 million in third-quarter sales, up 122% year over year and ahead of the $87 million FactSet consensus.
- Arcutis posted its first-ever quarterly profit at 6 cents per share, reversing a 33-cent loss a year earlier and topping expectations for a 9-cent loss.
- The company issued its first full-year sales guidance of $450 million to $470 million, exceeding the $438.8 million analyst estimate.
- Shares jumped more than 28% intraday after the results were released.
- Needham reports prescriptions are tracking about 18% above comparable third-quarter levels three weeks into Q4, citing the Oct. 6 pediatric approval and a new Kowa co-promotion.