Arcutis' Zoryve Psoriasis Cream Wins FDA Approval for Children as Young as Two
ARQT has more than doubled off its 52-week low of $13.06.
Summary
Arcutis Biotherapeutics' Zoryve cream received FDA approval to treat plaque psoriasis in children as young as two years old. This significantly expands the drug's addressable market, as it was previously approved for ages six and up. The approval opens a new, underserved patient population, which is expected to drive substantial revenue growth for this key product. This positive regulatory milestone builds on the strong Q1 results reported in May, which already showed robust product revenue.
At the time of this announcement, ARQT was trading at $27.20 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $13.06 to $31.77. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.