Arcutis Biotherapeutics rises on FDA approval for drug to treat chronic skin disease

Arcutis Biotherapeutics

15/12/2023 22:36

** Shares of medical dermatology company Arcutis
Biotherapeutics  ARQT.O  rise ~16% to $2.83  aftermarket
    ** The U.S. Food and Drug Administration approves co's drug
for treating a skin condition called seborrheic dermatitis in
individuals nine years of age and older
    ** Co says Roflumilast foam is the first topical drug for
treating the condition, which affects more than 10 million
people in the U.S., that brings a new mechanism of action in
over two decades
    ** Up to Friday's close, stock had fallen 83.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))