Arcutis Biotherapeutics Shares Rise Premarket As FDA OKs Zoryve in Young Children

By Colin Kellaher

Shares of Arcutis Biotherapeutics jumped in premarket trading Friday after the biopharmaceutical company won Food and Drug Administration expanded approval of its Zoryve cream for the topical treatment of plaque psoriasis in children ages 6 to 11.

Arcutis shares, which closed Thursday at all-time low of $4.43, were recently up 9.5% to $4.85 in premarket trading. The stock is down about 70% for the year through Thursday.

The Westlake Village, Calif., company said the approval gives children a steroid-free topical treatment for the most common form of the skin disease psoriasis, including in intertriginous areas, or skin folds.

The FDA last year approved Zoryve for the topical treatment of plaque psoriasis in patients 12 and older and is reviewing the cream for the treatment of seborrheic dermatitis in individuals age 9 and up, with a target action date of Dec. 16.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

October 06, 2023 08:37 ET (12:37 GMT)

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