ARCUTIS BIOTHERAPEUTICS, INC. : Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant, Other Events, Financial Statements and Exhibits (Form 8-K)

Item 2.03. Creation of a Direct Financial Obligation or an Off-Balance Sheet Obligation

                  Sheet Arrangement of a Registrant.


On July 29, 2022, Arcutis Biotherapeutics, Inc. (the "Company") commenced a
drawdown of the tranche B-1 term loan of $50.0 million and tranche B-2 term loan
of $75.0 million (collectively, the "Tranche B Term Loans") available under its
previously disclosed loan and security agreement (the "Loan Agreement") with SLR
Investment Corp. ("SLR"). As previously disclosed, the availability of the
Tranche B Term Loans was subject to the delivery to SLR of satisfactory evidence
of the approval by the U.S. Food and Drug Administration (the "FDA") of
roflumilast cream for an indication relating to the treatment of patients with
plaque psoriasis. On July 29, 2022, the Company announced that the FDA approved
ZORYVE™ (roflumilast) cream 0.3% for the treatment of plaque psoriasis,
including in intertriginous areas, in people 12 years of age or older. With such
approval, the Company commenced a drawdown of the Tranche B Term Loans and
intends to use the proceeds of the Tranche B Term Loans to continue clinical
development activities and commercialization efforts for ZORYVE and for other
working capital and general corporate purposes. The Tranche B Term Loans are
scheduled to mature on January 1, 2027, if not repaid sooner.

The above descriptions of the Loan Agreement and certain of the terms of the
Tranche B Term Loans are not complete and are qualified in their entirety by
reference to the full text of the Loan Agreement, a copy of which is filed as
Exhibit 10.33 to the Company's Annual Report on Form 10-K filed with the
Securities and Exchange Commission on February 22, 2022, as amended.


Item 8.01  Other Events

FDA Approval

On July 29, 2022, the Company issued a press release announcing that the FDA
approved ZORYVE™ (roflumilast) cream 0.3% for the treatment of plaque psoriasis,
including in intertriginous areas, in people 12 years of age or older (the "FDA
Approval"). ZORYVE - a once-daily, steroid-free cream in a safe and
well-tolerated, patient-friendly formulation - is formulated to simplify disease
management for people living with plaque psoriasis. The Company intends to make
ZORYVE widely available via key wholesaler and national dermatology pharmacy
channels as a new treatment option by mid-August 2022. A copy of the press
release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.

Corporate presentation

On August 1, 2022, the Company posted an updated corporate presentation to
include information regarding the FDA Approval of ZORYVE™ (roflumilast) cream to
the investor section of the Company's website. A copy of this presentation is
filed as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated
herein by reference.

The information contained in the slides is summary information that is intended
to be considered in the context of the more complete information included in the
Company's filings with the SEC and other public announcements that the Company
has made and may make from time to time by press release or otherwise. The
Company undertakes no duty or obligation to update or revise the information
contained in the presentation in this Current Report on Form 8-K, although it
may do so from time to time as its management believes is appropriate. Any such
update may be made through the filing of other reports or documents with the
SEC.

Forward Looking Statements

The Company cautions you that statements contained in this report regarding
matters that are not historical facts are forward-looking statement. 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 for ZORYVE to simplify disease management for care of plaque
psoriasis, the Company's expected timing and plan to commercially launch ZORYVE
by mid-August 2022 and the Company's intended use of the proceeds of the Tranche
B Term Loans. These statements are subject to 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. Risks and
uncertainties that may cause actual results to differ include risks inherent in
the Company's business, conditions limiting the Company's ability to access
additional capital under its debt financing agreement, the impact of competition
and other important factors discussed in the "Risk Factors" section of the
Company's Form 10-K filed with U.S. Securities and Exchange Commission ("SEC")
on February 22, 2022, as amended, as well as any subsequent filings with the
SEC. You should not place undue reliance on any forward-looking statements. The
Company undertakes no obligation to revise or update information herein to
reflect events or circumstances in the future, even if new information becomes


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available. All forward-looking statements are qualified in their entirety by
this cautionary statement, which is made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995.


Item 9.01 Financial statements and supporting documents

(d) Exhibits.

Exhibit No.                                               Description
99.1                       Press Release of Arcutis Biotherapeutics, Inc.

99.2                       Company presentation dated August     1    , 2022.

104                      Cover Page Interactive Data File (embedded within

XBRL document online).

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