New York, Jan 9, 2026, 15:46 EST — Regular session
- Arcutis shares swung sharply Friday, surrendering their early gains.
- Traders nudged their rate bets after a soft U.S. jobs report.
- Attention now shifts to late-January Fed messaging, along with Arcutis’ next results and FDA milestones.
Arcutis Biotherapeutics shares slid 5.3% to $28.29 in afternoon trading on Friday, after climbing as high as $30.70 earlier. The stock was last at the session low.
The move followed a cooler U.S. payrolls report, which reinforced expectations the Federal Reserve will keep rates steady in coming weeks. High-growth biotech names can swing hard when the rate outlook gets murkier. (Reuters)
Broader biotech held up better. The S&P biotech ETF XBI and the iShares Nasdaq Biotechnology ETF IBB were both higher, tracking gains in the S&P 500 and Nasdaq-100 ETFs.
Arcutis, a dermatology-focused drugmaker, has been riding stronger demand for its ZORYVE franchise and is forecasting quicker growth into 2026. In its most recent quarterly update, the company posted $99.2 million in third-quarter net product revenue for ZORYVE and set 2026 net product revenue guidance at $455 million to $470 million. (Arcutis Biotherapeutics)
Investors are keeping an eye on the FDA calendar, too. The agency set a June 29, 2026 deadline under the Prescription Drug User Fee Act — the FDA’s target date for an approval decision — for Arcutis’ application to expand ZORYVE cream 0.3% into plaque psoriasis for children aged 2 to 5. “This milestone brings us closer to helping families and clinicians caring for young children with plaque psoriasis,” CEO Frank Watanabe said. (Arcutis Biotherapeutics)
The next closer catalyst is earnings season. Zacks’ earnings calendar has Feb. 24, 2026 pegged as the expected date for Arcutis to report its next quarter results. (Zacks)
Still, the setup isn’t without risk. If prescription growth slips, payer coverage tightens, or newer indications ramp more slowly, expectations could get hit fast. Any FDA delay — or a narrower label — would also take the shine off the 2026 story.
Sentiment may get its next readout even before Arcutis reports, with the Fed’s Jan. 27-28 meeting in focus as investors parse how long policymakers intend to keep rates where they are. From there, traders are likely to shift attention to Arcutis’ expected late-February earnings update and the June FDA decision date for the pediatric psoriasis filing. (Federal Reserve)
