Following this transaction, Watanabe retains ownership of 823,430 shares directly. Additionally, he holds shares indirectly through various trusts and an LLC, though he disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest.The sale was executed under a 10b5-1 trading plan, which Watanabe adopted on June 14, 2024. This plan is set to conclude on September 30, 2025. The company maintains strong fundamentals with an impressive 89.57% gross profit margin and healthy liquidity, as evidenced by a current ratio of 2.46. For deeper insights into ARQT's financial health and growth prospects, including 13 additional ProTips, check out the comprehensive research available on InvestingPro. The company maintains strong fundamentals with an impressive 89.57% gross profit margin and healthy liquidity, as evidenced by a current ratio of 2.46. For deeper insights into ARQT's financial health and growth prospects, including 13 additional ProTips, check out the comprehensive research available on InvestingPro.
Following this transaction, Watanabe retains ownership of 823,430 shares directly. Additionally, he holds shares indirectly through various trusts and an LLC, though he disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest.
The sale was executed under a 10b5-1 trading plan, which Watanabe adopted on June 14, 2024. This plan is set to conclude on September 30, 2025.
In other recent news, Arcutis Biotherapeutics (NASDAQ:ARQT) has reported significant developments in its operations and financial performance. The company announced a 452% year-over-year increase in net product revenues, totaling approximately $45 million, primarily due to the success of its ZORYVE portfolio in treating various skin conditions. Arcutis has also reported a 25% rise in total prescriptions for ZORYVE, with new prescriptions up by 23% quarter-over-quarter.
In addition to these financial highlights, Arcutis has promoted several key executives, including Patrick Burnett to Executive Vice President, Chief Medical (TASE:PMCN) Officer, and L. Todd Edwards to Executive Vice President, Chief Commercial Officer. Kent Taylor has also been promoted from Vice President of Sales to Senior Vice President of Sales, in recognition of his leadership in launching ZORYVE foam and ZORYVE cream.
The company is planning for the future with the anticipated label expansion of ZORYVE to reach an additional 3.3 million patients. Approvals for scalp and body psoriasis are expected by mid-2025, along with a supplemental NDA for mild to moderate atopic dermatitis in children aged 2-5 in Q1 2025. Arcutis has expressed optimism about reaching breakeven by 2026 without the need for further equity market funding.
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