Armed with $570M war chest, Arcutis launches psoriasis cream in the US

 Arcutis Biotherapeutics has spent the weeks since the FDA approval of its topical plaque psoriasis cream Zoryve strengthening its cash position, drawing down $125 million from its loan facility and raising $162 million via a stock offering. That done, the biotech has launched the PDE4 inhibitor in the U.S. 

The product, branded Zoryve, is a topical formulation of the active ingredient found in AstraZeneca’s oral chronic obstructive pulmonary disease treatment Daliresp. Formulating the molecule into a steroid-free cream resulted in a treatment that achieved investigator-assessed treatment success in around 40% of patients at Week 8 in a pair of late-phase trials and a side effect profile that looks competitive.

Securing approval enabled Arcutis to draw down $125 million from its loan facility. On the same day, the biotech priced a public stock offering to bring in a further $161.7 million. The actions leave Arcutis with around $570 million to support the commercialization of Zoryve and its pipeline programs. 

Patients can now access the therapy. Arcutis recently made the topical cream available for ordering at pharmacies nationwide, expanding beyond an initial launch focused on Zoryve Direct pharmacies. The Zoryve Direct pharmacies are contracted pharmacy partners that help commercially insured individuals access the therapy, including by supporting them as they navigate the payer process. 

Arcutis has priced Zoryve with the goal of achieving broad, high-quality coverage. Zoryve’s wholesale acquisition cost is $825 per 60-g tube, compared to the $1,325-per-tube list price of Dermavant’s rival psoriasis cream Vtama.

“We strongly believe that meaningful innovation must extend beyond product development, and include a commitment to ensuring our products are accessible to the individuals who need them. With this in mind, we are executing a responsible pricing and go-to-market strategy for Zoryve as yet another way to deliver innovative solutions for those living with plaque psoriasis,” Arcutis CEO Frank Watanabe said in a statement.

https://www.fiercepharma.com/pharma/armed-570m-warchest-arcutis-launches-psoriasis-cream-us