Financial Performance - Aclaris reported a net loss of $7.6 million for Q3 2024, a significant decrease from a net loss of $29.3 million in Q3 2023, representing a 74% improvement[8]. - Total revenue for Q3 2024 was $4.3 million, down from $9.3 million in Q3 2023, primarily due to higher milestones earned in the prior year[8]. - Year-to-date net loss for 2024 was $35.5 million, significantly lower than the $87.0 million loss reported for the same period in 2023[12]. Expenses - Research and development (R&D) expenses decreased to $6.0 million in Q3 2024 from $23.9 million in Q3 2023, a reduction of 75%[9]. - General and administrative (G&A) expenses were $5.7 million for Q3 2024, down from $7.1 million in the prior year, reflecting a 20% decrease[10]. Cash and Liquidity - As of September 30, 2024, Aclaris had cash, cash equivalents, and marketable securities totaling $173.4 million, down from $181.9 million at the end of 2023[7]. - Aclaris expects its cash resources to be sufficient to fund operations into 2028 without considering potential business development transactions[7]. Development and Partnerships - The company anticipates top-line data from the Phase 2a trial of ATI-2138 for atopic dermatitis in the first half of 2025[2]. - Aclaris is seeking a global development and commercialization partner for lepzacitinib, excluding Greater China, where rights have been granted to Pediatrix Therapeutics[4]. Liabilities - Total liabilities increased to $52.2 million as of September 30, 2024, compared to $40.2 million at the end of 2023[20].

Financial Performance - Total revenue for Q2 2024 was $2.766 million, a 48% increase from $1.869 million in Q2 2023[20] - Licensing revenue increased to $2.141 million in Q2 2024, up 115% from $994,000 in Q2 2023[20] - Net loss for Q2 2024 was $10.986 million, compared to a net loss of $29.569 million in Q2 2023, representing a 63% improvement[20] - The company reported a comprehensive loss of $11.085 million for Q2 2024, compared to a comprehensive loss of $30.326 million in Q2 2023[20] - The net loss for the six months ended June 30, 2024, was $27.927 million, compared to a net loss of $57.729 million for the same period in 2023[73] - Total revenue for the three months ended June 30, 2024, was $2.766 million, an increase of 48% compared to $1.869 million for the same period in 2023[149] - Licensing revenue increased to $2.141 million for the three months ended June 30, 2024, up 115% from $0.994 million in 2023, driven by higher royalties under the Lilly license agreement[159] Expenses and Liabilities - Research and development expenses decreased to $8.759 million in Q2 2024, down 65% from $25.275 million in Q2 2023[20] - The company’s research and development expenses for the six months ended June 30, 2024, were $1.1 million, down from $6.7 million in the same period of 2023[56] - The total stock-based compensation expense for the six months ended June 30, 2024, was $4.992 million, a decrease from $13.328 million for the same period in 2023[73] - The company recognized a severance expense of $2.6 million for the six months ended June 30, 2024, with cash payments of $4.5 million related to severance[93] - The company’s accrued expenses decreased from $19.4 million as of December 31, 2023, to $5.8 million as of June 30, 2024[56] - The company’s total liabilities included a contingent consideration of $9.2 million as of June 30, 2024[48] Cash and Assets - Cash and cash equivalents at the end of Q2 2024 were $22.834 million, down from $39.878 million at the end of 2023[16] - Total assets decreased to $161.071 million as of June 30, 2024, from $197.405 million at the end of 2023[16] - The company had cash, cash equivalents, and marketable securities totaling $149.9 million as of June 30, 2024[32] - As of June 30, 2024, the company reported total assets of $147.4 million, with cash equivalents of $20.3 million and marketable securities valued at $127.0 million[48] - Cash and cash equivalents decreased from $39.9 million as of December 31, 2023, to $22.8 million as of June 30, 2024[183] - The company had $127.1 million in marketable securities as of June 30, 2024, down from $142.0 million as of December 31, 2023[183] Strategic Focus and Operations - The company is focused on developing novel drug candidates for immuno-inflammatory diseases and is pursuing strategic alternatives for commercialization[31] - The Company has a strategic review underway to explore alternatives for developing and commercializing its drug candidates[102] - The company has streamlined operations by reducing its workforce by approximately 46% to preserve capital[92] - A workforce reduction of approximately 46% was approved in December 2023 to streamline operations and reduce costs, with severance expenses recognized at $2.6 million for the six months ended June 30, 2024[134][135] - The company discontinued the development of MK2 inhibitor programs in immuno-inflammatory diseases following Phase 2 trial results in 2023[117] Future Outlook and Risks - The company expects to incur significant expenses and operating losses for the foreseeable future as it advances drug candidates through development stages[118] - The successful development of drug candidates remains highly uncertain, with significant risks associated with clinical trials and regulatory approvals[140] - The company anticipates incurring net losses in the near term as it continues to develop drug candidates[193] - Macroeconomic conditions, including inflation and interest rate increases, may negatively impact the company's growth and results of operations[120] Licensing and Agreements - The company entered into a license agreement with Sun Pharmaceutical Industries, Inc., receiving an upfront payment of $15.0 million in December 2023[81] - The Company entered into a royalty purchase agreement in July 2024, receiving an upfront payment of $26.5 million and potential additional payments of up to $5.0 million based on sales milestones for OLUMIANT[97] - An exclusive patent license agreement with Sun Pharmaceutical Industries resulted in an upfront payment of $15.0 million, with additional regulatory and commercial milestone payments expected[125] - Licensing revenue from Eli Lilly for the three months ended June 30, 2024, was $2.1 million, compared to $0.9 million for the same period in 2023, and $3.9 million for the six months ended June 30, 2024, compared to $2.3 million in 2023[127]

Aclaris Therapeutics (ACRS) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.05%. A quarter ago, it was expected that this specialty pharmaceutical company would post a loss of $0.28 per share when it actually produced a loss of $0.24, delivering a surprise of 14.29%.Over the last four quar ...

Exhibit 99.1 Aclaris Therapeutics Reports Second Quarter 2024 Financial Results and Provides a Corporate Update -Initiated Phase 2a Study Activities for ATI-2138 in Atopic Dermatitis- -Strengthened Balance Sheet Through Sale of Future OLUMIANT® Royalties for Proceeds of up to $31.5 Million- WAYNE, Pa., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immunoinflammatory diseases, today annou ...

-Initiated Phase 2a Study Activities for ATI-2138 in Atopic Dermatitis--Strengthened Balance Sheet Through Sale of Future OLUMIANT® Royalties for Proceeds of up to $31.5 Million- WAYNE, Pa., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, today announced its financial results for the second quarter of 2024 and provided a corporate update. "With study activities ...

- Non-Dilutive Transaction Strengthens Balance Sheet to Support Strategic Priorities -- $26.5 Million Upfront Plus Up to $5.0 Million Milestone - WAYNE, Pa., July 16, 2024 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, today announced the sale of a portion of Aclaris' future royalty payments and certain milestones from Eli Lilly and Company (Lilly) on net sales of OLUMIANT® ...

- Non-Dilutive Transaction Strengthens Balance Sheet to Support Strategic Priorities -- $26.5 Million Upfront Plus Up to $5.0 Million Milestone - WAYNE, Pa., July 16, 2024 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, today announced the sale of a portion of Aclaris’ future royalty payments and certain milestones from Eli Lilly and Company (Lilly) on net sales of OLUMIANT ...

Trading volume spikes in beaten-down stocks often signal a bottom for prices investors can bank on. The problem is that beaten-down stocks are usually in that position for a good reason, so it helps if there is a catalyst for higher share prices in addition to the trading volume. The three biopharmaceutical stocks on this list have catalysts for higher share prices ranging from insider buying to product launches, their growth outlook, and analysts' sentiment. The question is whether they are worth buying to ...

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Q1 2024 Results Conference Call May 7, 2024 5:00 PM ET Company Participants Kevin Balthaser - Chief Financial Officer Neal Walker - Interim Chief Executive Officer Joe Monahan - Chief Scientific Officer Wally Smith - Scientific & Business Development Consultant Conference Call Participants Roger Song - Jefferies Thomas Smith - Leerink Partners Corinne Jenkins - Goldman Sachs Julian Harrison - Big TIG Alex Thompson - Stifel Gavin Clark-Gartner - Evercore ISI Operator ...

Aclaris Therapeutics (ACRS) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to loss of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this specialty pharmaceutical company would post a loss of $0.37 per share when it actually produced a loss of $0.30, delivering a surprise of 18.92%.Over the last four quar ...