Frank Watanabe, Arcutis CEO

Days af­ter an FDA ap­proval for its pso­ri­a­sis drug, Ar­cutis looks to raise $150M in pub­lic cap­i­tal

In this bear­ish mar­ket, pub­lic com­pa­nies have raced to in­vestors pri­mar­i­ly on­ly af­ter show­ing im­pres­sive clin­i­cal da­ta or reach­ing oth­er promi­nent mile­stones. And as the IPO win­dow re­mains shut, the newest com­pa­ny to hop on the band­wag­on is Ar­cutis Bio­ther­a­peu­tics.

The Cal­i­for­nia-based com­pa­ny an­nounced Thurs­day a pub­lic of­fer­ing of $150 mil­lion in shares of its com­mon stock. The news comes days af­ter Ar­cutis won FDA ap­proval for its phos­pho­di­esterase-4 (PDE4) in­hibitor rof­lu­mi­last, mar­ket­ed as Zo­ryve, in plaque pso­ri­a­sis for chil­dren and adults ages 12 and up.

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