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ARQT — Nasdaq Pharmaceuticals

Arcutis Biotherapeutics, Inc.

$25,94
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1D5D1M3M6MYTD1Y5YMax
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Mcap
3,4M USD
P/E
—
EV / Rev
0,2x
Div yield
—
Op margin
-3,3 %
ROE
-8,5 %
Net margin
-4,3 %
Debt / equity
0,58
Beta
—
52w range
—
Volume
—
Day range
—
Prev close
$27,74
Open
—
Next earnings
2026-08-05
Ex-dividend
—
TR 1Y
—
About

Arcutis Biotherapeutics develops and commercializes immuno-dermatology drugs, primarily generating revenue from its ZORYVE (roflumilast) product line including creams and foam formulations.

Business. Arcutis Biotherapeutics, Inc. (ARQT) is a pharmaceutical company headquartered in the United States that operates within the healthcare sector. The firm is primarily engaged in the development and commercialization of pharmaceutical products, with its common stock listed on the Nasdaq stock exchange. As specific operating segment and geographic revenue data are not provided, the company is described at the industry level as a participant in the pharmaceuticals market.

Classification78 %
SectorHealthcare
Business sectorPharmaceuticals & Medical Research
Industry groupPharmaceuticals
Generated · model-assisted
Sell-side consensus
BUY8 analysts
7 buy1 hold0 sell
Avg 12m price target34,62

Analyst recommendations

8 analysts · consensus Buy
Buy7
Hold1
Sell0
12-month price target
34,62
Consensus of sell-side coverage.
Upcoming events
  • EarningsQ2 2026 earnings (expected)2026-08-05 · estimated
See all catalysts →

At a glance

Score
—
not yet scored
Valuation
—
valuation pending
Analysts→
Buy
8 analysts · indicative
Ownership→
Jennison Associates LLC
largest disclosed fund holder
Profitability→
-8,5 %
return on equity
Quality
—
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning ARQT.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care · THIS SECTOR+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to ARQT. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Company
    • EarningsQ2 2026 earnings (expected)2026-08-05 · estimated
    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR
    • Congressional trades
    • CongressJosh Gottheimer — Arcutis Biotherapeutics, Inc.2023-09-15 · Democrat · NJ · Sale · $1,001 - $15,000
    • CongressJosh Gottheimer — Arcutis Biotherapeutics, Inc.2023-04-17 · Democrat · NJ · Purchase · $1,001 - $15,000
    • CongressJosh Gottheimer — Arcutis Biotherapeutics, Inc.2022-06-15 · Democrat · NJ · Purchase · $1,001 - $15,000

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    Arcutis Biotherapeutics, Inc. (ARQT) is a pharmaceutical company headquartered in the United States that operates within the healthcare sector. The firm is primarily engaged in the development and commercialization of pharmaceutical products, with its common stock listed on the Nasdaq stock exchange. As specific operating segment and geographic revenue data are not provided, the company is described at the industry level as a participant in the pharmaceuticals market.

    Classification78 %
    SectorHealthcare
    Business sectorPharmaceuticals & Medical Research
    Industry groupPharmaceuticals
    AI synthesis
    GENERATED

    Arcutis maintains a capital structure characterized by significant leverage relative to equity, with a debt-to-equity ratio of 0.58 and total liabilities of $270.4 million against $189.6 million in equity. The balance sheet holds $34.8 million in cash and equivalents alongside $189.2 million in marketable securities, providing a current ratio of 2.68. However, net cash is negative after subtracting total debt of $109.4 million ($101.5 million long-term and $7.95 million short-term). Operating cash flow turned positive in Q1 2026 at $2.2 million, a notable improvement from the $30.4 million outflow in the prior year period, driven by changes in working capital and reduced net loss.

    Profitability remains negative, with a net loss of $11.3 million in Q1 2026, resulting in a return on equity of -8.5% and return on assets of -3.5%. The company trades at a price-to-book ratio of 0.02 and an EV/Revenue multiple of 0.21, reflecting market skepticism regarding near-term earnings power despite the positive cash flow inflection. The accumulated deficit stands at $1.15 billion, underscoring the historical burn rate associated with R&D and commercialization efforts.

    Revenue generation is concentrated in the Topical Roflumilast Program, which includes ZORYVE cream 0.3%, 0.15%, 0.05%, and foam formulations. The filing observations reference specific segment members for these products, indicating they are the primary revenue drivers. The company also discloses customer concentration risk, with major customers accounting for a significant portion of sales, though specific percentages are not detailed in the provided snapshot. Geographic exposure includes the US, UK, and China, with tax jurisdiction disclosures confirming operations in these regions.

    Growth trajectory shows a narrowing loss profile, with Q1 2026 net loss of $11.3 million compared to $25.1 million in Q1 2025. Revenue for Q1 2026 was $105.4 million. The positive operating cash flow in Q1 2026 contrasts sharply with the negative $30.4 million in Q1 2025, suggesting improved operational efficiency or working capital management. However, the company continues to incur significant annual losses, as noted in the liquidity discussion.

    Risk factors are elevated, with a "high" liquidity risk flag due to negative net cash and "medium" dilution risk. Filings reference going-concern or substantial-doubt language, highlighting the dependency on future funding or sustained cash flow improvements to meet obligations. The company has an amended loan and security agreement with SLR Investment Corp., and the risk of failing to satisfy covenants is a key concern. Dilution risk is further compounded by the existence of prefunded warrants and stock-based compensation expenses of $10.7 million in Q1 2026.

    Recent events include an 8-K filing with material item 5.02, indicating a significant corporate event or agreement change. Analyst sentiment remains cautiously optimistic, with a mean price target of $34.62 and a mean recommendation of 1.88 (leaning towards buy). The company continues to advance its pipeline, including ARQ-234, and seeks regulatory approvals for label expansions, which are critical for long-term growth visibility.

    Key takeaways
    • Operating cash flow turned positive ($2.2M) in Q1 2026, reversing a $30.4M outflow in Q1 2025, driven by working capital improvements.
    • Net cash is negative after debt, with $109.4M in total debt against $224M in liquid assets (cash + marketable securities), creating high liquidity risk.
    • Filings contain going-concern language, signaling substantial doubt about the company's ability to continue as a going concern without further capital or sustained cash flow.
    • Revenue is heavily concentrated in the ZORYVE (roflumilast) franchise, with customer concentration risk disclosed.
    • Dilution risk is medium, supported by $10.7M in stock-based compensation and existing prefunded warrants.
    • Analysts maintain a buy-leaning consensus (1.88 mean rec) with a $34.62 mean price target, implying upside from the current $27.74 price.

    Bull / Bear case

    Generated · model-assisted
    BULL CASE · 4

    Analysts project 24.8% upside to a mean price target of $34.63, reflecting strong buy consensus among eight analysts.

    The company maintains a low leverage band with a debt-to-equity ratio of 0.58, indicating manageable financial risk.

    A current ratio of 3.17 suggests strong short-term liquidity, providing a buffer against immediate operational cash flow needs.

    Capital expenditure intensity is minimal at 0.18% of revenue, allowing the firm to preserve cash for other strategic uses.

    BEAR CASE · 2

    The company faces high liquidity risk, which could constrain its ability to meet short-term obligations without raising capital.

    Medium dilution risk exists, potentially eroding shareholder value if the company issues new equity to fund operations.

    In focus — financials by report

    Quarterly
    Annual
    QUARTERLYFiled 2026-03-31
    Q4 2025 · Quarter highlights

    Revenue $105.4M; Operating income -$9.1M.

    Revenue$105.4M
    Operating income-$9.1M
    Net income-$11.3M
    Free cash flow$2.2M
    EPS—
    Operating cash flow$2.2M
    Financials
    Income statement
    Revenue$105.4M
    Gross profit—
    Operating income-$9.1M
    Net income-$11.3M
    Margins
    Gross margin—
    Operating margin-8.6%
    Net margin-10.7%
    FCF margin2.1%
    Balance sheet
    Total assets$460.0M
    Total liabilities$270.4M
    Total equity$189.6M
    Cash & equivalents$34.8M
    Long-term debt$101.5M
    Cash flow
    Operating cash flow$2.2M
    CapEx$0.00
    Free cash flow$2.2M
    SBC$10.7M
    P&L flow · revenue → net income
    Revenue $105.4MOperating costs $114.5MTax $2.2MNet income $11.3M
    Highlights
    • ▍Revenue $105.4M
    • ▍Operating income -$9.1M
    • ▍Net margin -10.7%

    Valuation FY

    Market price
    $25,94
    Market cap
    $3.6M
    Enterprise valueⓘ
    $78.2M
    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
    0.2x
    EV / Op incomeⓘ
    —
    EV / OCFⓘ
    —
    P / Bⓘ
    0.0x
    P / Tangible bookⓘ
    0.0x
    Tangible book
    $175.4M
    Net cashⓘ
    -$74.7M
    Current ratioⓘ
    2.7
    Debt / equityⓘ
    0.6
    ROAⓘ
    -3.5%
    ROEⓘ
    -8.5%
    Cash conversionⓘ
    35.0%
    CapEx / revenueⓘ
    0.2%
    SBC / revenueⓘ
    10.7%
    Dilution ratioⓘ
    -99.9%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    Business relationships4 disclosed relationships · 1 type · extracted from filings & disclosures
    Customers4
    ANON:CUST:ARQT.O:CUSTOMERAANON:CUST:ARQT.O:CUSTOMERACustomer88%
    ANON:CUST:ARQT.O:CUSTOMERBANON:CUST:ARQT.O:CUSTOMERBCustomer88%
    ANON:CUST:ARQT.O:CUSTOMERCANON:CUST:ARQT.O:CUSTOMERCCustomer88%
    ANON:CUST:ARQT.O:CUSTOMERDANON:CUST:ARQT.O:CUSTOMERDCustomer88%

    Supply chain

    Vendors → ARQT ↔ Partners → Customers · click any node to drill
    VENDORSPARTNERSCUSTOMERSARQTARQTArcutis Biotherapeutics, Inc.4 entitiesANON:CUST:ARQT.O:CUSTOANON:CUST:ARQT.O:CUSTOANON:CUST:ARQT.O:CUSTOANON:CUST:ARQT.O:CUSTO
    0 mentions in 10-K0 from corporate websites0 from news dispatches
    Updated 2026-07-17

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Next quarternear-term
    Earnings · next quarterconf 52 %
    EPS
    Consensus EPS
    0,16
    Predicted surprise
    +0,02
    Beat probability
    52 %
    Analysts
    8
    Other metrics
    Revenue
    —
    no estimate
    Segment revenue
    —
    no estimate
    Margin
    —
    no estimate
    Segment margin
    —
    no estimate
    as of 2026-07-17 · Earnings Surprise V1
    Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.
    Full fiscal year~1 year ahead
    Full fiscal year · our forecast vs guidance vs consensus
    MetricOur forecastGuidanceConsensus
    EPS—no estimate—no estimate0,16
    Revenue—no estimate—no estimate500,1M USD
    Operating income—no estimate—no estimate25,2M USD
    Full-year consensus mean (period as reported by source) · consensus in USD. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.
    Probabilistic model output — not investment advice. · generated 2026-08-04

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Consensus distribution

    sell-side coverage
    Recommendation distribution8 analysts
    Strong buy2
    Buy5
    Hold1
    Sell0
    Strong sell0
    12-month price target$34,62 · Median $35,00
    Low $33,00High $36,00
    Operating income · consensus25,2M USD
    EPS surprise
    −182,4 %
    reported vs consensus · miss
    Revenue surprise
    −24,8 %
    reported vs consensus · miss

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    Low$33,00
    Mean$34,62
    Median$35,00
    High$36,00
    Spot$25,94
    +33.5 %implied to mean12-month sell-side price targets · ▲ spot

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskMedium
    Liquidity riskHigh
    Filing-based flags
    • Net cash is negative after subtracting total debt.
    • Filings reference going-concern or substantial-doubt language.
    • Source documents mention dilution or offering risk.

    Benchmarks vs cohort

    Op Margin-3,2 %Below median
    Net Margin-4,3 %Below median
    ROE-8,5 %Bottom quartile
    Capex / Rev0,2 %Above P75
    D/E0,58Bottom quartile
    Cash Conv0,35Below median

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    Derivative transactions

    Net acquired 707 368 sh8 exercises · 15 grants14 insiders
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockDisposed 1 019 @ $7,51exercise · 2026-07-15
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockDisposed 2 255 @ $8,63exercise · 2026-07-15
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockDisposed 822 @ $6,52exercise · 2026-07-15
    • Peetz ChristopherDirector · Stock Option (right to buy) → Common StockAcquired 21 486 @ $27,78grant · 2026-07-15
    • Peetz ChristopherDirector · Stock Option (right to buy) → Common StockAcquired 13 010 @ $27,78grant · 2026-07-15
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockDisposed 2 255 @ $8,63exercise · 2026-06-15
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockDisposed 822 @ $6,52exercise · 2026-06-15
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockDisposed 1 019 @ $7,51exercise · 2026-06-15
    • Heron Patrick JDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • LIN SUE-JEANDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Welgus Howard G.Director · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Leonard Keith RDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Munshi AmitDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Curran TerrieDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Krishnamohan NehaDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Gilbert Halley EDirector · Stock Option (right to buy) → Common StockAcquired 16 667 @ $21,23grant · 2026-06-05
    • Leonard Keith RDirector · Stock Option (right to buy) → Common StockDisposed 12 220 @ $7,51exercise · 2026-03-02
    • Leonard Keith RDirector · Stock Option (right to buy) → Common StockDisposed 27 052 @ $8,63exercise · 2026-03-02
    • Vairavan LathaSVP Chief Financial Officer · Stock Option (right to buy) → Common StockAcquired 70 000 @ $26,97grant · 2026-02-27
    • Matsuda MasaruSee Remarks · Stock Option (right to buy) → Common StockAcquired 97 000 @ $26,97grant · 2026-02-27
    • Burnett PatrickSee Remarks · Stock Option (right to buy) → Common StockAcquired 77 000 @ $26,97grant · 2026-02-27
    • Watanabe ToddDirector, See Remarks · Stock Option (right to buy) → Common StockAcquired 266 000 @ $26,97grant · 2026-02-27
    • Edwards Larry ToddSee Remarks · Stock Option (right to buy) → Common StockAcquired 77 000 @ $26,97grant · 2026-02-27

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Regulatory filings
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    • Reference data
    How metrics are computed
    • Price To Tangible Book
      market_price / (tangible_book_value / shares_outstanding_diluted)
    • Price To Book
      market_price / (adjusted_book_value / shares_outstanding_diluted)
    • Return On Equity
      net_income / total_equity
    • Enterprise Value
      market_cap - net_cash
    • Ev To Revenue
      enterprise_value / revenue
    • Net Cash
      cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
    Source documents
    • Arcutis Biotherapeutics, Inc. company facts · 2026-07-17
    • Arcutis Biotherapeutics, Inc. 10-Q 2026-05-06 · 2026-07-17
    • Arcutis Biotherapeutics, Inc. 10-K 2026-02-25 · 2026-07-17
    • Arcutis Biotherapeutics, Inc. 10-Q 2025-10-28 · 2026-07-17
    • Arcutis Biotherapeutics, Inc. 10-Q 2025-08-06 · 2026-07-17
    • 8-K (sec_8k_material) on ARQT · 2026-07-17
    • Arcutis Biotherapeutics Inc Market data — analyst estimates · 2026-07-17
    • Arcutis Biotherapeutics Inc Market data — ESG · 2026-07-17
    • Arcutis Biotherapeutics, Inc. HA canonical relationships · 2026-07-17

    Ownership & reference

    Top holders

    • Jennison Associates LLCInvestment Managers · as of 2026-03-310,08 %$117M
    • JANUS HENDERSON GROUP PLCInstitutional Investor · as of 2026-03-310,02 %$44M
    • American Century Investment Management, Inc.Investment Managers · as of 2026-03-310,02 %$34M
    • UBS Financial Services, Inc.Investment Managers · as of 2026-03-310,01 %$78M
    • Franklin Advisers, Inc.Investment Managers · as of 2026-03-310,01 %$54M
    • Morgan Stanley Smith Barney LLCInvestment Managers · as of 2026-03-310,01 %$99M
    • First Trust Advisors L.P.Investment Managers · as of 2026-03-310,01 %$8M
    • State Street Investment Management (US)Investment Managers · as of 2026-03-310,01 %$148M
    • AQR Capital Management, LLCInvestment Managers · as of 2026-03-310,01 %$11M
    • Goldman Sachs Asset Management, L.P.Investment Managers · as of 2026-03-310,00 %$38M
    • Geode Capital Management, L.L.C.Investment Managers · as of 2026-03-310,00 %$72M
    • Charles Schwab Investment Management, Inc.Investment Managers · as of 2026-03-310,00 %$24M
    • Vanguard Capital Management, LLCInvestment Managers · as of 2025-12-310,00 %$211M
    • Northern Trust Investments, Inc.Investment Managers · as of 2026-03-310,00 %$23M
    • Principal Global Investors (Equity)Investment Managers · as of 2026-03-310,00 %$4M
    • BlackRock Institutional Trust Company, N.A.Investment Managers · as of 2024-06-300,00 %$80M
    • Nuveen LLCInvestment Managers · as of 2024-12-310,00 %$5M
    • Bank of New York Mellon CorpInstitutional Investor · as of 2026-03-310,00 %$7M
    • T. Rowe Price Associates, Inc.Investment Managers · as of 2026-03-310,00 %$0M
    • AllianceBernstein L.P.Investment Managers · as of 2026-03-310,00 %$3M
    • Raymond James & Associates, Inc.Brokerage Firms · as of 2026-03-310,00 %$4M
    • Wells Fargo AdvisorsBrokerage Firms · as of 2026-03-310,00 %$5M
    • Victory Capital Management Inc.Investment Managers · as of 2026-03-310,00 %$1M
    • LPL Financial LLCInvestment Managers · as of 2026-03-310,00 %$3M
    • AMERIPRISE FINANCIAL INCInstitutional Investor · as of 2026-03-310,00 %$2M
    • Invesco QQQ TrustFunds · as of 2026-03-310,00 %$3M
    • FMR LLCInstitutional Investor · as of 2026-03-310,00 %$7M
    • PNC Investments LLCInvestment Managers · as of 2026-03-310,00 %$0M
    • Wellington Management Company, LLPInvestment Managers · as of 2026-03-310,00 %$1M
    • JONES FINANCIAL COMPANIES LLLPInstitutional Investor · as of 2026-03-310,00 %$0M

    Leadership

    • Todd Franklin WatanabePresident, Chief Executive Officer, Director

    Insider activity

    Net selling0 buys · 27 sellsnet -$3,9M14 insiders · last 365d
    • Welgus Howard G.Director · Common StockSold 4 730 @ $26,91$127K · 2026-07-15
    • Welgus Howard G.Director · Common StockOther 2 255 @ $8,63$19K · 2026-07-15
    • Peetz ChristopherDirector · Common StockOther 4 315 · 2026-07-15
    • Welgus Howard G.Director · Common StockOther 822 @ $6,52$5K · 2026-07-15
    • Welgus Howard G.Director · Common StockOther 1 019 @ $7,51$8K · 2026-07-15
    • Welgus Howard G.Director · Common StockSold 635 @ $25,67$16K · 2026-06-17
    • LIN SUE-JEANDirector · Common StockSold 4 946 @ $24,38$121K · 2026-06-15
    • Welgus Howard G.Director · Common StockOther 822 @ $6,52$5K · 2026-06-15
    • Welgus Howard G.Director · Common StockOther 1 019 @ $7,51$8K · 2026-06-15
    • Welgus Howard G.Director · Common StockOther 2 255 @ $8,63$19K · 2026-06-15
    • Welgus Howard G.Director · Common StockSold 4 096 @ $24,41$100K · 2026-06-15
    • Gilbert Halley EDirector · Common StockOther 5 778 · 2026-06-05
    • Heron Patrick JDirector · Common StockOther 5 778 · 2026-06-05
    • LIN SUE-JEANDirector · Common StockOther 5 778 · 2026-06-05
    • Welgus Howard G.Director · Common StockOther 5 778 · 2026-06-05
    • Leonard Keith RDirector · Common StockOther 5 778 · 2026-06-05
    • Curran TerrieDirector · Common StockOther 5 778 · 2026-06-05
    • Munshi AmitDirector · Common StockOther 5 778 · 2026-06-05
    • Krishnamohan NehaDirector · Common StockOther 5 778 · 2026-06-05
    • Vairavan LathaSVP Chief Financial Officer · Common StockSold 435 @ $21,05$9K · 2026-05-11
    • Burnett PatrickSee Remarks · Common StockSold 222 @ $21,05$5K · 2026-05-11
    • Matsuda MasaruSee Remarks · Common StockSold 7 372 @ $23,27$172K · 2026-05-04
    • Matsuda MasaruSee Remarks · Common StockSold 884 @ $23,61$21K · 2026-05-04
    • Burnett PatrickSee Remarks · Common StockSold 684 @ $23,61$16K · 2026-05-04
    • Vairavan LathaSVP Chief Financial Officer · Common StockSold 1 341 @ $23,61$32K · 2026-05-04

    Short positioning

    13.6Mshares short-3.3% vs prior
    9.34days to cover
    44.5%short of daily vol
    361fails-to-deliver
    as of 2026-07-15 · short-interest report (free)

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    ARQTCanonical
    Nasdaq · USD

    Intel & risk

    PredictorBeat prob52 %Surprise+0,02Full forecast →
    peak dispatch · —
    OSINT findings
    Dilution riskMedium
    Liquidity riskHigh
    Net cash is negative after subtracting total debt.
    Filings reference going-concern or substantial-doubt language.
    Source documents mention dilution or offering risk.
    Relationship graph
    ARQTANON:CUSANON:CUSANON:CUSANON:CUSPharmaceutical
    This companySectorCustomers

    Evidence & claims

    From filings & derived data
    • Operating income (annual): USD -12.23MUnknown
    • EPS (diluted) (annual): USD-PER-SHARES -0Unknown
    • Current liabilities (annual): USD 129.84MUnknown
    • Shares outstanding (annual): 123.33MUnknown
    • Capex (annual): USD 686KUnknown
    • Revenue (annual): USD 376.07MUnknown
    • Cash & equivalents (annual): USD 42.91MUnknown
    • Net income (annual): USD -16.14MUnknown
    • R&D expense (annual): USD 77.05MUnknown
    • Total assets (annual): USD 432.97MUnknown
    • EPS (basic) (annual): USD-PER-SHARES -0Unknown
    • Total liabilities (annual): USD 243.49MUnknown
    • Long-term debt (annual): USD 108.96MUnknown
    • Shareholders' equity (annual): USD 189.48MUnknown
    • Operating cash flow (annual): USD -5.62MUnknown
    • Current assets (annual): USD 411.23MUnknown
    • Cost of revenue (annual): USD 36.7MUnknown
    • Revenue (annual): USD 196.54MUnknown
    • EPS (basic) (annual): USD-PER-SHARES -1Unknown
    • EPS (diluted) (annual): USD-PER-SHARES -1Unknown
    • Cash & equivalents (annual): USD 71.33MUnknown
    • Total liabilities (annual): USD 191.35MUnknown
    • Cost of revenue (annual): USD 19.13MUnknown
    • R&D expense (annual): USD 76.42MUnknown
    Showing 24 of 34 surfaced claims.
    Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

    The Thread

    Everything we know, in order
    2026-08-05 00:00 UTCTRANSCRIPTUpcomingEarnings call — Q3 2026
    2026-08-05EVENTUpcomingQ2 2026 earnings (expected) estimated date
    2026-07-17 04:26 UTCFILINGMaterial 8-K
    2026-07-15INSIDERWelgus Howard G. transacted 2.3k sh — Director ~$19k
    2026-07-15INSIDERPeetz Christopher transacted 4.3k sh — Director
    2026-07-15INSIDERWelgus Howard G. transacted 822 sh — Director ~$5k
    2026-07-15INSIDERWelgus Howard G. transacted 1.0k sh — Director ~$8k
    2026-07-15INSIDERWelgus Howard G. sold 4.7k sh — Director ~$127k
    2026-07-15INSIDERWelgus Howard G. disposed of 1.0k sh Stock Option (right to buy) — Director
    2026-07-15INSIDERWelgus Howard G. disposed of 2.3k sh Stock Option (right to buy) — Director
    2026-07-15INSIDERPeetz Christopher acquired 13.0k sh Stock Option (right to buy) — Director
    2026-07-15INSIDERWelgus Howard G. disposed of 822 sh Stock Option (right to buy) — Director
    2026-07-15INSIDERPeetz Christopher acquired 21.5k sh Stock Option (right to buy) — Director
    2026-06-17 00:00 UTCINSIDER25 insider transactions — 2026-06 · net sell $204k 11 derivative
    2026-06-17 00:00 UTCINSIDER25 insider transactions — 2026-06 · net sell $204k 11 derivative
    2026-06-17INSIDERWelgus Howard G. sold 635 sh — Director ~$16k
    2026-06-15INSIDERLIN SUE-JEAN sold 4.9k sh — Director ~$121k
    2026-06-15INSIDERWelgus Howard G. transacted 822 sh — Director ~$5k
    2026-06-15INSIDERWelgus Howard G. transacted 1.0k sh — Director ~$8k
    2026-06-15INSIDERWelgus Howard G. transacted 2.3k sh — Director ~$19k
    2026-06-15INSIDERWelgus Howard G. sold 4.1k sh — Director ~$100k
    2026-06-15INSIDERWelgus Howard G. disposed of 822 sh Stock Option (right to buy) — Director
    2026-06-15INSIDERWelgus Howard G. disposed of 2.3k sh Stock Option (right to buy) — Director
    2026-06-15INSIDERWelgus Howard G. disposed of 1.0k sh Stock Option (right to buy) — Director
    2026-06-09FILING8-K filing →
    2026-06-05INSIDERGilbert Halley E transacted 5.8k sh — Director
    2026-06-05INSIDERHeron Patrick J transacted 5.8k sh — Director
    2026-06-05INSIDERLIN SUE-JEAN transacted 5.8k sh — Director
    2026-06-05INSIDERWelgus Howard G. transacted 5.8k sh — Director
    2026-06-05INSIDERLeonard Keith R transacted 5.8k sh — Director
    2026-06-05INSIDERCurran Terrie transacted 5.8k sh — Director
    2026-06-05INSIDERMunshi Amit transacted 5.8k sh — Director
    2026-06-05INSIDERKrishnamohan Neha transacted 5.8k sh — Director
    2026-06-05INSIDERMunshi Amit acquired 16.7k sh Stock Option (right to buy) — Director
    2026-06-05INSIDERGilbert Halley E acquired 16.7k sh Stock Option (right to buy) — Director
    2026-06-05INSIDERKrishnamohan Neha acquired 16.7k sh Stock Option (right to buy) — Director
    2026-06-05INSIDERWelgus Howard G. acquired 16.7k sh Stock Option (right to buy) — Director
    2026-06-05INSIDERLeonard Keith R acquired 16.7k sh Stock Option (right to buy) — Director
    2026-06-05INSIDERCurran Terrie acquired 16.7k sh Stock Option (right to buy) — Director
    2026-06-05INSIDERHeron Patrick J acquired 16.7k sh Stock Option (right to buy) — Director
    Showing the 40 most recent of 72 entries.
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data · Reference data Premium coverage