ARQT - Arcutis Biotherapeutics proposes equity offering concurrent $35M placement

Arcutis Biotherapeutics (ARQT) announces underwritten public offering of 4M shares of its common stock. Underwriters overallotment option will be additional 600K shares.Price has yet to be determined.The company also plans concurrent $35M private placement of common stock to OrbiMed Advisors, LLC, an affiliate of one of the company’s directors. The placement will be priced equal to the public offering price.Stock down 2% AH.Previously: Positive ARQ-154 data from seborrheic dermatitis study lifts Arcutis Bio (Sept. 29)

For further details see:

Arcutis Biotherapeutics proposes equity offering, concurrent $35M placement