Aclaris Therapeutics(US:ACRS)2024-11-06 12:21Financial 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].