15 unchanged sentences
Index to Financial Statements
−Removed: Stock Performance Graph
−Removed: The graph below shows a comparison, from January 31, 2020 (the date our common stock commenced trading on Nasdaq) through December 31, 2022, of the cumulative total return to stockholders of our common stock relative to the Nasdaq Composite Index (“^IXIC”) and the Nasdaq Biotechnology Index (“^NBI”).
−Removed: The graph assumes that $100 was invested in each of our common stock, the Nasdaq Composite and the Nasdaq Biotechnology at their respective closing prices on January 31, 2020 and assumes reinvestment of gross dividends.
−Removed: The stock price performance shown in the graph represents past performance and should not be considered an indication of future stock price performance.
−Removed: This graph shall not be deemed “soliciting material” or be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.
−Removed: Cumulative Total Return Comparison
−Removed: (Inception) 6/30/2020 12/31/2020 6/30/2021 12/31/2021 6/30/2022 12/31/2022
−Removed: Arcutis Biotherapeutics, Inc.
−Removed: $100.00 $138.72 $129.04 $125.18 $95.14 $97.75 $67.89
−Removed: Nasdaq Composite Index $100.00 $109.92 $140.84 $158.50 $170.97 $120.52 $114.38
−Removed: Nasdaq Biotechnology Index $100.00 $120.23 $133.14 $144.02 $132.30 $104.88 $117.87
−Removed: Index to Financial Statements
−Removed: SELECTED FINANCIAL DATA
−Removed: The following tables set forth our selected statements of operations and balance sheet data.
−Removed: The selected statements of operations data for the years ended December 31, 2022, 2021, and 2020, and the selected balance sheet data as of December 31, 2022, 2021, and 2020, are derived from our audited financial statements and the related notes thereto included elsewhere in this Annual Report on Form 10-K, which consolidated financial statements have been audited by our independent registered public accounting firm.
−Removed: The following selected financial data below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K.
−Removed: Our historical results are not necessarily indicative of the results that may be expected in any future period.
−Removed: The selected financial data in this section are not intended to replace the consolidated financial statements and are qualified in their entirety by the consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K.
−Removed: Year Ended December 31,
−Removed: 2022 2021 2020
−Removed: (in thousands, except share and per share data)
−Removed: Statements of operations data:
−Removed: Product revenue, net $ 3,686 $ — $ —
−Removed: Operating expenses:
−Removed: Cost of sales 754 — —
−Removed: Research and development
−Removed: 182,435 145,558 115,308
−Removed: Selling, general and administrative 122,124 60,971 21,337
−Removed: Total operating expenses
−Removed: $ 305,313 $ 206,529 $ 136,645
−Removed: Loss from operations
−Removed: (301,627) (206,529) (136,645)
−Removed: Other income (expense), net (9,831) 173 967
−Removed: $ (311,458) $ (206,356) $ (135,678)
−Removed: Net loss per share, basic and diluted (1)
−Removed: $ (5.66) $ (4.18) $ (3.80)
−Removed: Weighted-average shares used in computing net loss per share, basic and diluted (1)
−Removed: 55,032,265 49,405,575 35,668,152
−Removed: ______________
−Removed: (1) See Notes 2 and 12 to our consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a description of how we compute basic and diluted net loss per share and the weighted-average number of shares used in the computation of these per share amounts.
−Removed: 2022 2021 2020
−Removed: (in thousands)
−Removed: Balance sheet data:
−Removed: Cash, cash equivalents, restricted cash and marketable securities $ 410,823 $ 388,601 $ 285,983
−Removed: Working capital (1)
−Removed: 399,599 369,447 270,224
−Removed: Total assets 449,274 408,152 298,269
−Removed: Long-term debt, net 197,769 72,350 —
−Removed: Accumulated deficit (719,764) (408,306) (201,950)
−Removed: Total stockholders’ equity 209,581 297,677 270,621
−Removed: ______________
−Removed: (1) We define working capital as current assets less current liabilities.
−Removed: See our consolidated financial statements and related notes for further details regarding our current assets and current liabilities.
−Removed: Index to Financial Statements
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.