Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) soars to a record high after swinging to profitability in Q3, with revenues more than doubling to $99 million. The company reported a net profit of $7.4 million, a significant improvement from a $41.5 million net loss in the same period last year. For the nine-month period, Arcutis remained at a net loss of $33.5 million, 74 percent lower than the previous year. Revenues surged by 97 percent to $246 million. The company aims to generate between $455 million and $470 million in net revenues next year.

Read more at Yahoo Finance: Arcutis (ARQT) Soars to Record High on Swing to Profitability, ‘More-Than-Double’ Revenues