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Arcutis Biotherapeutics Initiates $150M Equity Raise
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Overview
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Arcutis Biotherapeutics, listed as ARQT on NASDAQ, has begun a $150 million equity raise through a public offering, leading to a 6.82% drop in share value. The company also offers underwriters a 30-day option to purchase additional $22.5 million worth of common stock.
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How could the underwriters' option to buy additional stock impact Arcutis Biotherapeutics' financial stability?
How might the equity raise enhance Arcutis Biotherapeutics' growth prospects?
What factors contributed to the immediate drop in share value following the public offering announcement?
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