12 unchanged sentences
Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, operating results, capital requirements, general business conditions and other factors that our board of directors may deem relevant.
−Removed: Index to Financial Statement s
+Added: Index to Financial Statements
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, 2024, 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.
+Added: The graph below compares the cumulative total return on an indexed basis of a $100 investment made at the beginning of the five-year period ended December 31, 2025, in the Company's common stock, the Nasdaq Composite Index (^IXIC), and the Nasdaq Biotechnology Index (^NBI).
+Added: The cumulative total return reflects market prices at the end of each year and assumes reinvestment of gross dividends.
+Added: The stock price performance shown in the graph represents past performance and should not be considered indicative of future stock price performance.
+Added: This graph shall not be deemed “soliciting material” or deemed “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities under that Section, and shall not be deemed 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.
Cumulative Total Return Comparison
−Removed: (Inception) 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
+Added: 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Arcutis Biotherapeutics, Inc.
2 unchanged sentences
Nasdaq Biotechnology Index $100.00 $99.37 $88.53 $91.84 $90.58 $119.92
−Removed: Index to Financial Statement s
+Added: 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.