- Mizuho remains bullish on Arcutis Biotherapeutics Inc (NASDAQ:ARQT). It sees buying opportunity in the weakness as the company heads into 2H of 2022 with four potentially transformative catalysts for ARQT.
- The most important catalyst is the potential approval of roflumilast cream in plaque psoriasis around July 29, 2022, transforming Arcutis from a developmental- to a commercial-stage company.
- Mizuho believes the three ongoing Phase 3 clinical programs remain underappreciated by investors.
- Related: Arcutis Secures $225M Debt Financing To Fund Potential Launch Of Roflumilast.
- The topline data for seborrheic dermatitis is expected in mid-2022. The analyst expects positive data given the similar trial size and patient enrollment number to the highly positive Phase 2 trial.
- The analyst expects a positive readout from Phase 3 in scalp psoriasis for scalp psoriasis.
- The likelihood of success of the Phase 3 studies in atopic dermatitis is questionable as Phase 2 missed the EASI primary endpoint. The Phase 2 trial was also underpowered.
- Price Action: Yesterday's shares fell from $22.33 to $19.60. Today the stock is trading 0.26% higher at $19.65 during the market session on the last check Thursday.
