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ARTICLE | Financial News

Crossover investors help Arcutis raise $95M to advance PDE-4 inhibitor for psoriasis

October 22, 2019 12:26 AM UTC
Updated on Oct 22, 2019 at 7:48 PM UTC

Arcutis raised $94.5 million in a series C financing to advance lead product ARQ-151, a topical formulation of the PDE-4 inhibitor roflumilast, through Phase III trials for mild-to-moderate psoriasis.

Arcutis Biotherapeutics Inc. co-founder Chairman Bhaskar Chaudhuri said the latest round should give Arcutis a financial runway of about 12 to 18 months and -- despite the presence of multiple crossover investors in the round -- that the company is not actively looking to pursue an IPO...