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Arcutis Biotherapeutics (ARQT) intends to raise $125 million from the sale of its common stock in an IPO, per an amended registration statement.
The company is advancing a pipeline of treatment candidates for various skin conditions.
For its lead candidate, ARQT plans to have initial data readout in early 2021, existing investors are supporting the IPO by acquiring 40% of the float and the skin condition market is forecast to grow substantially in the years to come.
ARQT is a candidate for purchase in my personal portfolio at $15.00 per