Item 1.01 Entry into a Material Definitive Agreement
On September 22, 2021, Arcutis Biotherapeutics, Inc. ("Arcutis" or the
"Company") entered into a Supply and Manufacturing Agreement (the "Supply
Agreement") with DPT Laboratories, Ltd. ("DPT") for the manufacture and
commercial supply of topical Roflumilast Cream (ARQ-151), its lead product
candidate (the "Product"). Pursuant to the terms of the Supply Agreement, DPT
has agreed to manufacture and supply the Product in accordance with
specifications and quality standards established by the parties and the Company
has agreed to purchase from DPT a minimum portion of its supply of the Product
for the term of the Supply Agreement. The initial term of the Supply Agreement
commenced on September 15, 2021 and lasts until December 31, 2025, and will
automatically renew for successive twenty-four (24) month terms unless earlier
terminated. The Supply Agreement may be terminated by either party upon sixty
(60) days written notice of an uncured material breach.
The Supply Agreement contains, among other provisions, representation and
warranties, indemnification obligations, confidentiality, audit and inspection,
and intellectual property sharing provisions in favor of each party that are
customary for an agreement of this nature.
The foregoing summary of the material terms of the Supply Agreement is qualified
in its entirety by the terms of the Supply Agreement, which will be filed as an
exhibit to the Company's Quarterly Report for the nine months ending September
30, 2021.
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Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No. Description
104 Cover Page Interactive Data File, formatted in inline XBRL.
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