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. 1
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. 2
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. 3
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. 4
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. 5
