Insider Trading February 4, 2026

Arcutis Director Disposes $250K in Stock as Company Advances ZORYVE Program

Howard G. Welgus sells 10,000 shares under a 10b5-1 plan amid clinical, commercial and regulatory milestones for Arcutis

By Priya Menon ARQT
Arcutis Director Disposes $250K in Stock as Company Advances ZORYVE Program
ARQT

Arcutis Biotherapeutics director Howard G. Welgus sold 10,000 shares on February 2, 2026, in transactions that generated roughly $250,483. The sales were executed through a 10b5-1 trading plan established in March 2025. The company meanwhile reported positive Phase 2 data for ZORYVE in infants, transitioned promotion responsibilities in-house, appointed a new board member to replace its retiring founder, saw a price-target increase from Mizuho, and received FDA acceptance for a pediatric label expansion with a decision expected by June 29, 2026.

Key Points

  • Director Howard G. Welgus sold 10,000 shares on Feb. 2, 2026, for about $250,483 at prices from $24.61 to $25.60 - impacts investor ownership and insider activity disclosure.
  • Arcutis reported positive Phase 2 INTEGUMENT-INFANT data for ZORYVE showing 58% of infants achieved a 75% improvement after four weeks - relevant to the biopharma and pediatric dermatology sectors.
  • Commercial and corporate shifts include termination of the promotion agreement with Kowa, Arcutis taking over sales directly, appointment of Amit Munshi to the board replacing founder Bhaskar Chaudhuri, and Mizuho raising its price target to $37 while maintaining an Outperform rating.

Arcutis Biotherapeutics reported that director Howard G. Welgus sold 10,000 shares of the companys common stock on February 2, 2026, bringing in approximately $250,483. The shares changed hands at prices between $24.61 and $25.60 per share.

Following that disposition, Welgus's direct stake in Arcutis stands at 59,744 shares. The sale was carried out under a pre-arranged trading arrangement - a 10b5-1 plan - which Welgus adopted on March 11, 2025. That plan is scheduled to remain in effect through May 29, 2026.

These insider transactions come as the company communicates a series of operational and regulatory updates. Arcutis said results from its Phase 2 INTEGUMENT-INFANT study of ZORYVE cream were positive, with 58% of infants treated showing a 75% improvement in their atopic dermatitis after four weeks of therapy.

In a separate commercial change, Arcutis and Kowa Pharmaceuticals America have mutually agreed to end their promotion agreement for ZORYVE. Arcutis will assume responsibility for sales activities directly going forward.

The company also announced a leadership transition on its board: Amit Munshi has been appointed to the Board of Directors, taking the seat of founder Bhaskar Chaudhuri, who is retiring.

On the analyst front, Mizuho has raised its price target for Arcutis to $37.00 and continues to carry an Outperform rating, citing ZORYVE sales that exceeded expectations. Separately, the U.S. Food and Drug Administration has accepted Arcutis's application seeking to expand its psoriasis treatment to younger pediatric patients; the agency's decision is expected by June 29, 2026.

Taken together, the insider sale, the clinical readout, the commercial reorganization, the board succession and the regulatorily material filing form the sequence of recent disclosures from Arcutis Biotherapeutics. Each item was explicitly noted by the company in its public reporting.

Risks

  • Regulatory outcome uncertainty - the FDA's decision on the pediatric psoriasis expansion is pending with a target date of June 29, 2026; this affects the company's regulatory and commercial trajectory in pediatric indications.
  • Execution risk from the sales transition - Arcutis assuming direct responsibility for ZORYVE promotion introduces operational and commercial execution challenges for the company and impacts pharmaceutical sales operations.
  • Timing and plan limitations - the 10b5-1 trading plan under which the insider sale occurred runs through May 29, 2026, and future insider transactions under that plan or subsequent plans remain subject to timing and market conditions.

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