Ivarmacitinib

Q1 2025 net product revenue for ZORYVE® (roflumilast) was $63.8 million, a 196% increase compared to Q1 of 2024, and a 2% decrease compared to Q4 of 2024, due to typical first-quarter deductible resets and insurance changes, and excluding the non-recurring reduction in reserves for product return of $4.1 million reported in Q4 2024 Continued demand growth for ZORYVE of 10%, solidifying its position as most prescribed branded non-steroidal topical treatment across three major inflammatory skin conditions All three largest national Pharmacy Benefit Managers (PBMs) covering entire ZORYVE portfolio and Medicaid coverage continues to expand On April 3, 2025, the patent litigation against Padagis was stayed and the court cancelled all case deadlines, including the trial May 22, 2025 Prescription Drug User Fee Act (PDUFA) action date for ZORYVE foam 0.3% for treatment of individuals with plaque psoriasis of the scalp and body, 12 years and older WESTLAKE VILLAGE, Calif., May 06, 2025 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported financial results for the quarter ended March 31, 2025, and provided a business update. “In the first quarter we again delivered excellent performance driven by strong demand growth for our ZORYVE portfolio, which offers a distinct and compelling value proposition and provides healthcare providers and their patients with an effective and safe alternative to steroids. We have broad commercial coverage, are continuing to expand Medicaid coverage — with more than 1 in 2 recipients having coverage — and are maintaining our gross-to-net in the 50s,” said Frank Watanabe, president and chief executive officer. “With our team's execution of our strategy, strong financial position, multiple upcoming catalysts and market expansion opportunities, including additional indications and further coverage expansion for ZORYVE, as well as a promising pipeline, we are confident in our continued growth in 2025 and beyond.” Program Updates / Key Milestones ZORYVE cream - a highly potent and selective phosphodiesterase-4 (PDE4) inhibitor in a once-daily cream formulation, approved in the United States for the treatment of plaque psoriasis and atopic dermatitis. U.S. demand for ZORYVE cream 0.3% in plaque psoriasis continues to grow, with over 425,000 prescriptions filled since launch by over 18,000 unique prescribers, reflecting the high levels of patient and physician satisfaction with the ZORYVE cream clinical profile. ZORYVE cream 0.3% has reached its steady state gross-to-net (GTN). Launch of ZORYVE cream 0.15% in atopic dermatitis continues to gain momentum with over 69,000 prescriptions filled since launch, with coverage by the three largest national PBMs. The Company anticipates continued improvement in GTN for ZORYVE cream 0.15% in 2025, converging on the GTN of our other products. The Company submitted a supplemental New Drug Application (sNDA) for ZORYVE cream 0.05% to the FDA for the treatment of atopic dermatitis in children ages 2 to 5, and has been assigned a PDUFA action date of October 13, 2025. ZORYVE foam - a once-daily foam formulation of topical roflumilast designed to overcome the challenges of delivering topical drugs in hair-bearing areas of the body, approved in the United States for the treatment of seborrheic dermatitis, and under FDA review for scalp and body psoriasis. Demand for ZORYVE foam 0.3% in seborrheic dermatitis continues to grow robustly each quarter, with over 343,000 prescriptions filled since launch, reflecting the high unmet need in this disease. ZORYVE foam has gained commercial and Medicaid coverage in line with ZORYVE cream 0.3% and is nearing its steady state GTN. The Company submitted an sNDA for ZORYVE foam for scalp and body psoriasis to the FDA based on the positive results from the pivotal ARRECTOR Phase 3 trial and a Phase 2b trial, and has been assigned a PDUFA action date of May 22, 2025. ARQ-255 - a topical suspension formulation of ivarmacitinib, a potent and highly selective topical Janus kinase type 1 (JAK1) inhibitor, designed to preferentially deliver the drug deep into the hair follicle, in order to potentially treat alopecia areata at the site of inflammation. In September 2024, the Company announced that it completed enrollment in a Phase 1b study evaluating ARQ-255 for the treatment of alopecia areata, with data expected in the middle of 2025. ARQ-234 - a fusion protein that is a potent and highly selective checkpoint agonist of the CD200 Receptor (CD200R), being developed as a potential biologic treatment in atopic dermatitis. The Company has continued preclinical development efforts and is working towards submitting an Investigational New Drug application in 2025. Recent Corporate Highlights The Company appointed Latha Vairavan as Chief Financial Officer effective May 6, 2025. Obtained two new U.S. patents in Q1 2025 related to topical roflumilast compositions. In March 2025, at the request of Padagis, Arcutis agreed to a joint stipulation to stay the ongoing patent litigation with Padagis Israel Pharmaceuticals Ltd., Padagis US LLC, and Padagis LLC (Padagis). On April 3, 2025, the court stayed the case and cancelled all case deadlines, including the trial. The 30-month stay will be extended for each day the stay is in place starting March 24, 2025, until the stay is lifted. The parties are not in settlement discussions. In March 2025, Health Canada approved ZORYVE® (roflumilast) cream 0.15% for the treatment of atopic dermatitis in individuals 6 years of age and older, and the Company commenced sales in April. The positive results from Arcutis's pivotal Phase 3 trial of the efficacy and safety of ZORYVE cream 0.05% for the treatment of mild to moderate atopic dermatitis in children 2 to 5 years old was published in Pediatric Dermatology. First Quarter 2025 Summary Financial Results Product revenues for the quarter ended March 31, 2025 were $63.8 million compared to $21.6 million for the corresponding period in 2024. Revenues for the quarter were $23.4 million for ZORYVE (roflumilast) cream 0.3%, $30.2 million for ZORYVE (roflumilast) topical foam 0.3%, and $10.2 million for ZORYVE (roflumilast) cream 0.15%. Year-over-year increases were due to strong unit demand as well as improvements in GTN sales deductions. In addition, the first quarters of 2025 and 2024 included Other revenues of $2.0 million and $3.0 million, respectively, related to license revenues received in connection with the Huadong Pharmaceutical collaboration and licensing agreement. Q1 2024 also included Other revenues of $25.0 million from an upfront payment in connection with the Sato License Agreement. Cost of sales for the quarter ended March 31, 2025 were $8.8 million compared to $3.3 million for the corresponding period in 2024. The year-over-year increase was due to the cumulative catch-up adjustment related to the $10.0 million milestone payment to AstraZeneca achieved during the quarter, coupled with higher product revenues. Research and development (R&D) expenses for the quarter ended March 31, 2025 were $17.5 million compared to $23.1 million for the corresponding period in 2024. The year-over-year decrease was due to decreased clinical development costs related to our topical roflumilast program. Selling, general, and administrative (SG&A) expenses for the quarter ended March 31, 2025 were $64.0 million compared to $54.8 million for the corresponding period in 2024. The year-over-year increase was primarily due to compensation and personnel-related expenses for our continued commercialization efforts for ZORYVE. Net loss was $25.1 million, or $0.20 per basic and diluted share, for the quarter ended March 31, 2025 compared to $35.4 million, or $0.32 per basic and diluted share, for the corresponding period in 2024. Cash, cash equivalents, restricted cash, and marketable securities were $198.7 million as of March 31, 2025, compared to $228.6 million as of December 31, 2024. Net cash used in operating activities was $30.4 million during the first quarter. Conference Call and WebcastArcutis management will host a conference call and webcast today at 4:30 PM ET to discuss the financial results for the quarter and provide a business update. The webcast for this conference call may be accessed at the “Events” section of the Company’s website. The replay of the webcast will be available on the Arcutis website following the call. About Arcutis Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis has a growing portfolio of advanced targeted topicals approved to treat three major inflammatory skin diseases. Arcutis’ unique dermatology development platform coupled with our dermatology expertise allows us to invent differentiated therapies against biologically validated targets, and has produced a robust pipeline with multiple follow-on clinical programs for a range of inflammatory dermatological conditions including atopic dermatitis and alopecia areata. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, Instagram, and X. Forward Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For example, statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential to address large markets with significant unmet need; the development, approval and potential commercialization of product candidates; the potential commercial success and growth of ZORYVE in plaque psoriasis, seborrheic dermatitis, and atopic dermatitis, including market access and reimbursement, product demand growth and developments regarding GTN; and the timing of regulatory filings and potential approvals. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, the timing, expenses, and success of our commercialization efforts, including uncertainty of future commercial sales and related items that can impact net sales, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 25, 2025, as well as any subsequent filings with the SEC. Any forward-looking statements that the company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Contacts:Media Amanda Sheldon, Head of Corporate Communications media@arcutis.com Investors Latha Vairavan, Chief Financial Officer ir@arcutis.com

作者｜与安4月25日，恒瑞医药四款ADC药物联合治疗的临床试验申请获得CDE批准，其中三款进入Ⅲ期临床阶段，一款进入Ⅱ期临床阶段，为其ADC管线布局带来进一步深化。图1 恒瑞ADC临床获批这四款药物分别是SHR-A2102（Nectin-4 ADC）、SHR-A2009（HER3 ADC）、SHR-A1904（CLDN 18.2 ADC）和SHR-1826（c-Met），联合贝伐珠单抗±阿得贝利单抗（PD-L1）±SHR-8068（CTLA-4单抗）用于治疗实体瘤，其中SHR-A2102还加入化疗，形成五联疗法。根据恒瑞2025年一季度报显示研发费用达15.33亿元，多年来累计研发投入已达460亿元。在持续高强度研发投入的驱动下，在研管线快速推进，创新研发成果加速转化，也促进了业绩增长势头。2025年一季度实现营业收入72.06亿元，同比增长20.14%；归属于上市公司股东的净利润为18.74亿元，同比增长36.90%；归属于上市公司股东的扣非净利润为18.63亿元，同比增长29.35%，交出了亮眼成绩。作为中国创新药企的领军者，恒瑞近年来在ADC领域持续发力，构建了覆盖靶点探索、技术平台创新、临床开发及国际化合作的完整生态体系。其ADC管线数量、技术深度及临床进展均处于国内第一梯队，并逐步在全球市场崭露头角。  01  技术平台：差异化设计与自主创新恒瑞对于ADC药物的探索，最早可追溯至2011年开发首代罗氏HER-2 ADC药物T-DM1的类似药SHR-A1201，整体呈现提早布局、快速调整的特点，两年内推进至临床，后期已移出其在研管线列表；而对于如c-Met等其他靶点的研究，也同样如此。相较于中途入局的国内其他头部药企，恒瑞在这一领域已算得上是深耕多年，并借助持续灵活调整，逐步明确了多个核心靶点，早早打下布局基础。其在ADC领域的核心竞争力主要源于自主研发的恒瑞迅捷模块化ADC创新平台（HRMAP）。该平台以第一三共ADC技术平台为基础，针对毒素Dxd进行改造优化，技术平台确定性高，开发了具有自主知识产权的新一代定点偶联技术，同时包含多种连接子、多种靶向抗体和多种机制的毒素，显著提高了ADC药物的血浆稳定性、均一性和抗肿瘤活性。图2 恒瑞医药HRMAP平台凭借HRMAP平台，恒瑞已衍生出12个获批临床的新型、差异化ADC分子，涵盖HER2、TROP2、Claudin18.2、CD79b、Her-3、Nectin-4等多个靶点，成为国内在ADC药物热门靶点上布局深入、进展靠前的领跑企业。  02   管线布局：梯度储备与适应症全覆盖恒瑞的ADC管线以“靶点差异化”和“适应症广泛性”为特色，形成了从早期临床到上市申报的梯度储备。图3 恒瑞医药肿瘤在研管线一览根据其官网当前显示的在研管线列表，该司共计有9款ADC药物处于临床阶段，其中1款进入上市申报阶段、4款Ⅲ期临床、3款Ⅱ期以及1款1期。研发策略上整体呈现“成熟靶点差异化，新兴靶点抢先机”的特点，搭建全面的ADC产品体系。针对成熟靶点，在HER2、TROP-2等拥挤赛道，恒瑞选择从适应症和联用方案切入。例如，SHR-A1811（HER2 ADC）不仅瞄准HER2阳性乳腺癌，更将适应症拓展至传统HER2靶向药难以覆盖的“低表达”人群（占乳腺癌患者50%以上）。2024年公布的Ⅱ期数据显示，其针对HER2高表达乳腺癌患者的客观缓解率（ORR）为76.3%，同时对HER2低表达患者的ORR达60.4%，疗效获益持久。目前，该药物已在多个疾病领域开展联合方案的探索，包括联合肿瘤免疫治疗、靶向治疗、小分子TKI、化疗、内分泌治疗等，其在非小细胞肺癌（NSCLC）、结直肠癌的Ⅲ期试验已全面铺开，并与其自主研发的PD-L1抑制剂阿得贝利单抗联用探索“去化疗”方案。作为恒瑞进展最快的管线，SHR-A1811已先后8次被CDE纳入突破性治疗品种，包括用于治疗HER2阳性的复发或转移性乳腺癌、HER2低表达的复发或转移性乳腺癌、HER2突变的晚期非小细胞肺癌、HER2阳性结直肠癌以及HER2阳性晚期胃癌或胃食管结合部腺癌。针对处于潜在成熟阶段的新兴靶点，恒瑞则主打抢先进场，以快破局。尚处于1期的SHR-4849（DLL3 ADC）便是一个很好的例子。小细胞肺癌（SCLC）领域长期缺乏有效疗法，而DLL3在多达80%的SCLC患者中高表达。恒瑞的SHR-4849对DLL3中、高表达的不同肿瘤细胞系具有较强的增殖抑制活性，基于明显的旁观者效应，可通过杀伤DLL3高表达细胞释放毒素来杀伤DLL3低表达细胞。2024年，其海外权益以超10亿美元的总额授权给美国IDEAYA，成为中国ADC出海的重要里程碑，也让这一靶点再度备受关注，目前全球范围内暂无DLL3 ADC产品获批上市。可以看出，恒瑞正在稳步构建纵向深化、横向全面的ADC产品体系。基于各阶段全线储备，同时依托多靶点并举和适应症拓展，既能避免在红海市场硬碰硬，又能在蓝海领域建立先发优势。  03  全球视野：从License-out到生态构建自ADC药物开发进入新阶段，双抗ADC和双/多毒素的开发成为早期研发的新方向，联合治疗的开发则成为后期开发的主线路。本次多项联合治疗临床的获批，加速推进了恒瑞在ADC+IO+抗血管生成联合疗法的重点布局。而纵观全局，恒瑞对自家产品的期待又远非“先手布局”、“产品出海”这般简单。不同于传统的一次性授权，恒瑞在DLL3 ADC交易中保留大中华区权益，同时与IDEAYA共享后续临床开发收益。这种“风险共担、利益共享”的License-out模式，为其后续管线的海外授权提供了十分出色的范本。而更早之前其与Hercules的“Newco”交易，则更是凭借60亿美元的交易金额创下国内记录，直接助燃这一新出海模式，同时作为对外许可交易对价的一部分，也让恒瑞获得了Hercules 19.9%的股权。自2018年以来，恒瑞与全球范围内先后开展了13笔对外许可交易，涉及16个分子实体，潜在总交易额约为140亿美元，首付款总额约为6亿美元，另获若干合作伙伴的股权。目前，该司有氟唑帕利、海曲泊帕、SHR0302等超20项国际临床试验在海外开展，并有3款创新药获FDA孤儿药认定。具体到ADC药物上，则有4款ADC产品—SHR-A2009、SHR-A1912、SHR-A1921、SHR-A2102先后获FDA快速通道资格认定。当前正在加快推进其临床试验及上市注册进度。针对未来出海策略，恒瑞医药总裁、首席运营官冯佶在2024年度业绩暨现金分红说明会上表示，公司的国际化策略还是内生发展与对外合作并重，稳步推进国际化进程。可以看出，其最终目标在于通过技术授权、联合开发、海外自主研发的三步走策略，构建全球化的ADC生态。  写在最后  恒瑞医药在ADC领域的崛起，见证了其从技术模仿到经验沉淀再到自主创新的突破与飞跃。从技术平台设计创新，收获保留更多有效性和更强稳定性的产品，到HER2 ADC挑战多项适应症，以持续拓宽的覆盖面实现产品的多领域布局深入，再到DLL3 ADC授权案彰显中国智造的价值认可，其每一步突破，都在推进构建多元化创新管线矩阵，以内生式发展能力赋能全球。未来几年，随着其核心产品上市进程和临床试验的不断推进，我们或将看到其在ADC领域的关键破局和重大进展，见证助力开启中国医药创新从“追赶”走向“引领”的时代。引用：恒瑞医药官网文章和其他公开资料共建Biomedical创新生态圈！如何加入BiG会员？