Arcutis Biotherapeutics, Inc. (ARQT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Low Risk
Limited dilution potential
Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 12.95% of current shares
Recent Dilution: 4.86% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
130M
Potential Supply
16M
Additional shares possible
Splits
None
Past 2 years

Summary

ARQT currently has 125M outstanding shares. with limited dilution risk as only 16.2M additional shares (12.9%) are authorized for issuance. The company has minimally diluted shareholders by 4.86% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 06, 2026

10-Q filing | 125.1M shares outstanding

130M 16M
May 06, 2025

10-Q filing | 126.0M shares outstanding

130M 16M
Feb 25, 2025

10-K filing | 121.0M shares outstanding

120M 16M
Nov 06, 2024

10-Q filing | 124.3M shares outstanding

120M 16M
Aug 14, 2024

10-Q filing | 123.5M shares outstanding

120M 16M
May 14, 2024

10-Q filing | 111.0M shares outstanding

110M 16M
Feb 27, 2024

10-K filing | 96.8M shares outstanding

97M 16M
Jan 31, 2024

S-3 filing: This is an S-3 filing for an at-the-market offering of common stock through TD Cowen. The offering price per share may exceed the net tangible book value per share of common stock outstanding. The number of shares sold will fluctuate based on the market price and limits set with TD Cowen.

94M 16M
Nov 03, 2023

10-Q filing | 94.4M shares outstanding

94M 16M
Oct 23, 2023

8-K filing: Arcutis Biotherapeutics, Inc. entered into an underwriting agreement for a public offering of 32,500,000 shares of common stock and pre-funded warrants to purchase up to 7,500,000 shares of common stock, with an option for the underwriters to purchase up to 6,000,000 additional shares. ($93.5M proceeds)

61M 16M
Aug 08, 2023

10-Q filing | 61.4M shares outstanding

61M 16M
May 09, 2023

10-Q filing | 61.2M shares outstanding

61M 16M
Feb 28, 2023

10-K filing | 55.0M shares outstanding

55M 16M
Nov 08, 2022

10-Q filing | 57.1M shares outstanding

57M 16M
Aug 05, 2022

8-K filing: Arcutis Biotherapeutics, Inc. completed a public offering of 7,500,000 shares of common stock at $20.00 per share, and the underwriters exercised their option to purchase an additional 1,125,000 shares, resulting in net proceeds of approximately $161.7 million. ($172.5M proceeds)

51M 16M
Aug 04, 2022

10-Q filing | 51.4M shares outstanding

51M 16M
May 05, 2022

10-Q filing | 50.5M shares outstanding

51M 16M
Feb 22, 2022

10-K filing | 49.4M shares outstanding

49M 16M
Nov 04, 2021

10-Q filing | 50.1M shares outstanding

50M 16M
Aug 05, 2021

10-Q filing | 50.0M shares outstanding

50M 16M
May 06, 2021

10-Q filing | 50.2M shares outstanding

50M 16M
Feb 16, 2021

10-K filing | 50.1M shares outstanding

50M 16M
Nov 05, 2020

10-Q filing | 43.6M shares outstanding

44M 16M
Oct 06, 2020

8-K filing: Arcutis Biotherapeutics, Inc. closed its underwritten public offering of 4,000,000 shares of common stock at $25.00 per share and concurrently closed a private placement with OrbiMed Affiliates for $35.0 million of common stock at $25.00 per share, generating net proceeds of approximately $128.5 million. ($135.0M proceeds)

38M 16M
Sep 29, 2020

S-1 filing: This is an S-1 filing for an initial offering of common stock, including an option to purchase additional shares and a concurrent private placement. Proceeds from the offering will fund continued development of programs, commercial launch planning, and general corporate purposes.

38M 16M
Aug 11, 2020

10-Q filing | 38.2M shares outstanding

38M 9M
May 12, 2020

10-Q filing | 38.2M shares outstanding

38M 9M
Jan 21, 2020

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock, with an option to purchase additional shares, and indications of interest from existing stockholders. The company intends to use the net proceeds from this offering to fund the further development of ARQ-151, ARQ-154 and ARQ-252, for working capital and general corporate purposes.

35M 9M
Jan 06, 2020

S-1 filing: This is an S-1 filing for an initial public offering of common stock.

55M 0
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