Arcutis Biotherapeutics (ARQT) Announces January 31st IPO
Arcutis Biotherapeutics (ARQT) plans to raise $125 million in an initial public offering on Friday, January 31st, IPO Scoop reports. The company plans to issue 7,800,000 shares at $15.00-$17.00 per share.
The company has a market cap of $561 million.
Goldman Sachs, Cowen and Guggenheim Securities acted as the underwriters for the IPO and Cantor was co-manager.
Arcutis Biotherapeutics provided the following description of their company for its IPO: ” We are a late-stage biopharmaceutical company focused on developing and commercializing treatments for dermatological diseases with high unmet medical needs. Our current portfolio is comprised of topical treatments with significant potential to address immune-mediated dermatological diseases and conditions, or immuno-dermatology. Our strategy is to identify and develop treatments against validated biological targets in dermatology that deliver a differentiated clinical profile that addresses major shortcomings of existing therapies in our targeted indications. “.
Arcutis Biotherapeutics was founded in 2016 and has 29 employees. The company is located at 2945 Townsgate Road, Suite 110, Westlake Village, CA 91361, US and can be reached via phone at (805) 418-5006 or on the web at http://www.arcutis.com.
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