Arcutis Biotherapeutics, a Westlake Village-based company developing drugs for immune dermatological conditions, plans to raise $150 million through a public offering of additional shares of common stock. Arcutis announced the pricing of those shares on Aug. 2, at $20 per share. Shares of Arcutis closed at $19.50 that day and then shot up 17% on Aug. 3, trading at around $22.80 by mid-day. Arcutis will issue and sell 7.5 million shares of stock, which will increase the number of outstanding shares by about 13%.

https://www.pacbiztimes.com/2022/08/03/arcutis-to-raise-150m-in-public-stock-offering/

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