Arcutis Biotherapeutics announces $150M common stock offering

Arcutis Biotherapeutics announced the commencement of an underwritten public offering of $150M of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. All of the shares of common stock and pre-funded warrants in this offering are being sold by Arcutis. Morgan Stanley, TD Cowen, and Guggenheim Securities are acting as joint lead bookrunning managers for the proposed offering. Mizuho and Needham & Company are acting as co-lead managers for the proposed offering.