H.C. Wainwright analyst Douglas Tsao views the agreement of joint stipulation between Arcutis Biotherapeutics (ARQT) and Padagis to the ongoing patent litigation as a win for Acrutis. The news should provide confidence about the company’s runway of exclusivity, the analyst tells investors in a research note. The firm says the stay in litigation also enhances the strategic value of Arcutis shares “because a potential acquirer can have greater confidence that it would enjoy an extended period of exclusivity.” It reiterates a Buy rating on the shares with a $19 price target
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