Positive context积极背景
Stocks股票 / Health Care / ARQT
Arcutis Biotherapeutics Inc · Health Care
ARQT US listed · USD美股 · 美元
Health Care
Russell 2000罗素2000
Speculative / unprofitable投机／未盈利
$27.00
Regular quote常规时段报价
-$7.05 · -20.70%
Extended quote unavailable. Showing the regular quote.盘前盘后报价暂不可用，现显示常规时段报价。
Pre-market盘前
·
52w low52周低 $18.86high高 $34.85
Neutral — no clear edge中性 — 无明显优势
The bottoming setup is not yet confirmed (price still below the 10-day average) and the 3-day/weekly momentum is rolling over — momentum is fading before the…筑底形态尚未确认（价格仍位于 10 日均线下方），且3 日/周线动量已开始掉头向下——动量在形态完成前已开始衰竭。等待价格收复 10 日均线且动量趋于稳定后再考虑建仓。
As of 2026-11-05截至 2026-11-05
Company news公司新闻
The latest reporting最新报道
One story, with the reporting behind it.将同一事件汇总，保留各来源报道。
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-11-05
Momentum (RSI 14)动量（RSI 14）
42
Neutral zone中性区域
vs 50-day average相对50日均线
-0.6% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
+6.5% above上方
Long trend up长期向上
Volatility波动率
100th percentile第100百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
Beat in 3 of last 4 quarters近 4 季中 3 季超预期
Post-earnings drift: -9.3% (20d)财报后漂移：-9.3%（20日）
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 41.4%
Financials财务数据
fiscal years财年Revenue营业收入
$376.1M2025
20202025
Earnings per share每股收益
$-0.132025
20202025
Free cash flow自由现金流
-$6.3M2025
20202025
Operating margin营业利润率
-3.3%
Net margin净利率
-4.3%
FCF margin自由现金流利润率
-1.5%
Balance-sheet quality财务体质 4/9
Return on equity股本回报率 -8%
Watch关注
Leverage杠杆
Current ratio流动比率3.17
Capital allocation资本配置
Stock-based comp股权薪酬$40.4M
Share count change (1y)股数变化（1年）+4.7%
Debt coming due到期债务
FY2025 10-KThe 12-month bucket following fiscal period end 2025-12-31 is not reported. The years below are what the filing did report.文件未披露财年期末 2025-12-31 之后12个月区间的到期金额；下方为其确实披露的年度。
All maturity buckets are measured from fiscal period end 2025-12-31, not from today.所有到期区间均从财年期末 2025-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
not reported未披露
Year 2第2年
not reported未披露
Year 3第3年
not reported未披露
Year 4第4年
$107.0M
Year 5第5年
not reported未披露
After year 55年以后
not reported未披露
Cash reported at 2025-12-31: $42907000.截至 2025-12-31 披露的现金：$42907000。 At the cash-burn pace reported over 2025-01-01 to 2025-12-31, that cash represented about 81.6 months. This scenario excludes debt payments and future financing.按 2025-01-01 至 2025-12-31 期间披露的现金消耗速度，该现金约对应 81.6 个月。此情景不包括债务偿还与未来融资。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001787306-26-000018, period ending报告期截至 2025-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-10-23T07:58:52.185592+00:00.
1/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths— absentLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo— absentLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree— absentLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive— absent
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001787306-26-000018 · Filed提交日期 2026-02-25.
Cache acquired缓存获取时间: 2026-10-23T07:58:52.185592+00:00 · Evaluated as of评估截至 2026-11-07.
- Reported operating cash flow已披露经营活动现金流: $-5625000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $686000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $-6311000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
News新闻
1 recent stories — mixed1 篇最新报道，多空参半
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
ARQT daily MACD crossed downARQT 日线MACD下穿
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$3.3M net (0 buyers, 7 sellers)-$3.3M 净值（0 买家，7 卖家）
Signal history信号历史
engine events引擎事件
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP. Buyers rejected the 2026-10-06 low (swing low printed) but price hasn't reclaimed its 10-day average — first box ticked, not all. Last cycle was left-translated (topped early) — a bearish structural tell买入预备。买方拒绝了 2026-10-06 的低点（摆动低点已现），但价格尚未收复 10 日均线——第一项条件达成，并非全部。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号
Nov 5, 2026
ARQT daily MACD crossed downARQT 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $27.00.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$27.00。
Nov 4, 2026
ARQT made a new 52-week highARQT 创52周新高
Price reached a fresh 52-week high — a momentum / trend extreme the whole market watches. $34.05.价格创出52周新高 — 全市场关注的动量/趋势极值。$34.05。
Nov 4, 2026
ARQT RSI reached overboughtARQT RSI进入超买
RSI(14) crossed above 70 — stretched to the upside; context, not a timing trigger alone. $34.05.RSI(14)上穿70 — 上行过度；仅作背景，单独不构成择时。$34.05。
Nov 3, 2026
BOTTOMING → NEARING A HIGH筑底中 → 接近高点
TAKE PROFITS止盈
Nov 2, 2026
UPTREND → BOTTOMING上涨趋势 → 筑底中
BUY SETUP买入预备
Oct 23, 2026
BUY ZONE → UPTREND买入区 → 上涨趋势
HOLD持有
Oct 22, 2026
ARQT RSI reached overboughtARQT RSI进入超买
RSI(14) crossed above 70 — stretched to the upside; context, not a timing trigger alone. $32.20.RSI(14)上穿70 — 上行过度；仅作背景，单独不构成择时。$32.20。
Oct 19, 2026
BUY ZONE → UPTREND买入区 → 上涨趋势
HOLD持有
Oct 19, 2026
ARQT made a new 52-week highARQT 创52周新高
Price reached a fresh 52-week high — a momentum / trend extreme the whole market watches. $31.89.价格创出52周新高 — 全市场关注的动量/趋势极值。$31.89。
Oct 19, 2026
ARQT RSI reached overboughtARQT RSI进入超买
RSI(14) crossed above 70 — stretched to the upside; context, not a timing trigger alone. $31.89.RSI(14)上穿70 — 上行过度；仅作背景，单独不构成择时。$31.89。
Showing the last 15 of显示最近15条，共 198 signals条信号
Company profile公司档案
Watch items — what could change the story关注项 — 可能改变故事的因素
- Margin compression despite revenue growth
- Capital intensity rising
Recent news最新动态
Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
GlobeNewswire Inc. · 2026-11-06
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -15.5% | -4.7% |
| 1 Month近1月 | +12.9% | -5.9% |
| 3 Months近3月 | +6.8% | -5.0% |
| 6 Months近6月 | +27.5% | -0.1% |
| Year to date年初至今 | -6.9% | +8.1% |
| 1 Year近1年 | +10.7% | +9.3% |
Trading information交易信息
Volatility rank波动率分位
100th pctile
EPS (trailing)每股收益
$-0.13
Off 52-week high距52周高点
-20.7%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | — | — | $4M | $60M | $197M | $376M |
| EPS每股收益 | $-3.80 | $-4.18 | $-5.66 | $-3.78 | $-1.16 | $-0.13 |
| Free cash flow自由现金流 | $-113M | $-176M | $-258M | $-247M | $-112M | $-6M |
| Gross margin毛利率 | — | — | — | 91.6% | 90.3% | 90.2% |
| Net margin净利率 | — | — | -8449.8% | -439.8% | -71.3% | -4.3% |
| FCF margin自由现金流利润率 | — | — | -7000.8% | -415.2% | -57.1% | -1.7% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$376M
Net income净利润
$-16M
Operating cash flow经营现金流
$-6M
Total assets总资产
$433M
Shareholder equity股东权益
$189M
Long-term debt长期负债
$108M
Shares outstanding总股本
0.12B
Returns & growth回报与增长
Return on equity股本回报率
-8.5%
Return on assets资产回报率
-3.7%
Debt / assets负债/资产
24.9%
Asset growth资产增速
+24.1%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 6 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 6 个财年间走高——盈利的现金支撑减弱
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Pricing power: gross margin −1.4pts over 3 years定价能力：毛利率 3 年下降 1.4 个百分点
- Capital discipline: share count +184.6% over 6 years (dilution)资本纪律：股本 6 年增加 184.6%（稀释）
- Balance sheet: leverage unremarkable资产负债表：杠杆水平一般
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
42
RSI (2-day)RSI（2日）
15
vs 20-day average相对20日均线
-11.0%
vs 50-day average相对50日均线
-0.6%
vs 200-day average相对200日均线
+6.5%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down — fresh downturn动能向下——刚刚转弱
3-day3日线
momentum up动能向上
Weekly周线
momentum up动能向上
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range state波幅状态
expanding — range opening up扩张中 — 波幅放大
Range width percentile波幅宽度分位
83/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $0.11 | $0.09 | +22.2% |
| Mar 2026 | $-0.09 | $-0.02 | -350.0% |
| Dec 2025 | $0.13 | $0.03 | +333.3% |
| Sep 2025 | $0.06 | $-0.10 | +160.0% |
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$3.3M
Insider buyers vs sellers内部人买家vs卖家
0 : 7
Recent fund flows近期基金流向
SPDR S&P BiotechSPDR S&P Biotech
accumulating持续增持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。