Item 5. Market for Registrant’s Common Equity
Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information for Common Stock
Our common stock has been publicly traded on the Nasdaq Global Select Market under the symbol “ARQT” since the commencement of our IPO on January 31, 2020. Prior to that time there was no public market for our common stock.
Holders
As of February 20, 2026, there were approximately 56 holders of record of our common stock. The actual number of stockholders is greater than this number of record holders, and includes stockholders who are beneficial owners, but whose shares are held in street name by brokers and other nominees. This number of holders of record also does not include stockholders whose shares may be held in trust by other entities.
Recent Sales of Unregistered Securities
None.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
Dividend Policy
We have never declared or paid cash dividends on our common stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future. 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.
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Index to Financial Statements
Stock Performance Graph
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). The cumulative total return reflects market prices at the end of each year and assumes reinvestment of gross dividends. The stock price performance shown in the graph represents past performance and should not be considered indicative of future stock price performance. 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
12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Arcutis Biotherapeutics, Inc. $100.00 $73.73 $52.61 $11.48 $49.52 $103.23
Nasdaq Composite Index $100.00 $121.39 $81.21 $116.47 $149.83 $180.33
Nasdaq Biotechnology Index $100.00 $99.37 $88.53 $91.84 $90.58 $119.92
Item 6. RESERVED
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Index to Financial Statements