What's Going On With Arcutis Biotherapeutics Stock Monday?

Arcutis Biotherapeutics, Inc. ARQT shares traded higher on Monday after Health Canada approved its Zoryve cream for the treatment of mild to moderate atopic dermatitis.

What To Know: This approval comes after data from phase 3 clinical trials showed that 90% of patients experienced symptom improvement within four weeks and 69% achieved at least a 50% reduction in disease severity.

Additionally, the cream met its primary endpoint in the phase 3 INTEGUMENT-1 and INTEGUMENT-2 trials, showing significant improvements as early as Week 1.

A recent survey by the Eczema Society of Canada revealed that 45% of Canadians with moderate atopic dermatitis reported itching negatively impacted their mental health. Furthermore, 69% said it heightened stress, and 62% experienced lasting scarring from scratching.

“We are proud to offer Canadians as young as six years old a new steroid-free option for managing atopic dermatitis that is grounded in both patient needs and clinical evidence,” said Jamie Lewis, vice president and general manager, Arcutis Canada.

“Zoryve cream represents our commitment to providing innovative solutions that address the key challenges faced by patients and healthcare providers. We are grateful to the patients and investigators who participated in the clinical trials, as their contributions have made this achievement possible.”

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ARQT Price Action: Arcutis closed 12.31% higher at $16.42 on Monday, according to data from Benzinga Pro.

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