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Arcutis Enhances Patent Portfolio; Street Says Buy
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Arcutis Enhances Patent Portfolio; Street Says Buy

Late-stage biopharmaceutical company Arcutis Biotherapeutics, Inc. (ARQT) recently announced that it has been issued a patent by the United States Patent and Trademark Office to cover its invention for improving delivery and extending half-life of both the cream and foam formulations of topical roflumilast.

The company is developing topical cream and foam formulations of roflumilast, a highly potent and selective phosphodiesterase type 4 inhibitor (PDE4), to treat psoriasis, atopic dermatitis and seborrheic dermatitis.

Clinical trial data carried out has shown that Arcutis’ topical roflumilast formulations are uniquely attuned to cater to the unmet needs of patients without compromising on efficacy, safety and tolerability.

The CEO of Arcutis, Frank Watanabe, said, “We believe this new patent represents important additional protection for our unique, proprietary topical roflumilast treatment, and is separate and distinct from our formulation patents. While we believe our issued and pending formulation patents provide substantial protection for topical roflumilast, having this additional patent covering the unique pharmacokinetic characteristics of our treatment is meaningful additional protection.” (See Arcutis stock chart on TipRanks)

On September 28, Mizuho Securities analyst Vamil Divan assigned a Buy rating to the stock with a price target of $58, which implies upside potential of 155.8% from current levels.

Consensus among analysts is a Strong Buy based on 3 unanimous Buys. The average Arcutis price target of $50.67 implies upside potential of 123.51% from current levels. Shares have declined 27% over the past year.

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