Aclaris Therapeutics(US:ACRS)2025-11-06 12:01Financial Performance - Aclaris reported a net loss of $14.6 million for Q3 2025, compared to a net loss of $7.6 million in Q3 2024, and a total net loss of $45.1 million for the nine months ended September 30, 2025, compared to $35.5 million for the same period in 2024[9]. - Total revenue for Q3 2025 was $3.3 million, down from $4.3 million in Q3 2024, and $6.5 million for the nine months ended September 30, 2025, compared to $9.5 million for the same period in 2024[10]. - Total revenue for Q3 2025 was $3,299,000, a decrease of 24% compared to $4,346,000 in Q3 2024[17]. - Licensing revenue decreased to $2,814,000 in Q3 2025 from $3,701,000 in Q3 2024, representing a decline of 24%[17]. - The net loss for Q3 2025 was $14,614,000, compared to a net loss of $7,586,000 in Q3 2024, reflecting an increase in losses of 93%[17]. - Total costs and expenses for Q3 2025 were $20,448,000, an increase from $14,817,000 in Q3 2024, representing a 38% increase[17]. Research and Development - Research and development (R&D) expenses increased to $13.0 million for Q3 2025 from $6.0 million in Q3 2024, and $36.1 million for the nine months ended September 30, 2025, compared to $24.6 million for the same period in 2024[11]. - Research and development expenses increased significantly to $13,028,000 in Q3 2025, up from $5,956,000 in Q3 2024, marking a 119% increase[17]. - Aclaris expects to initiate a Phase 2 trial of ATI-2138 in an additional indication in the first half of 2026, following positive results from the Phase 2a trial[3]. - The Phase 2a trial of ATI-2138 showed a 77% decrease in Eczema Area and Severity Index (EASI) score at week 4 (p<0.001) and a 64% decrease in Body Surface Area (BSA) score (p<0.001)[7]. - Top line results from the Phase 1a/1b program of investigational bispecific antibody ATI-052 are expected in early 2026, with Phase 1b trials in asthma and atopic dermatitis anticipated to start in the first half of 2026[7]. - Aclaris aims to provide top line results from the Phase 2 trial of investigational anti-TSLP monoclonal antibody Bosakitug in the second half of 2026, with patient enrollment ongoing[7]. - The company plans to file an initial Investigational New Drug (IND) application for a next-generation JAK-sparing ITK inhibitor in the second half of 2026[7]. Cash and Assets - Aclaris has a cash runway of $167.2 million as of September 30, 2025, sufficient to fund operations into the second half of 2028[8]. - Cash, cash equivalents, and marketable securities decreased to $167,209,000 as of September 30, 2025, down from $203,896,000 at the end of 2024[19]. - Total assets decreased to $175,534,000 as of September 30, 2025, compared to $220,327,000 at the end of 2024[19]. - Total stockholders' equity decreased to $120,100,000 as of September 30, 2025, down from $155,554,000 at the end of 2024[19]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $33,982,000, compared to $11,137,000 for the same period in 2024[21]. - Stock-based compensation expense for the nine months ended September 30, 2025, was $9,458,000, an increase from $7,996,000 in the same period of 2024[21]. - The company is exploring non-dilutive opportunities to extend its cash runway further[8].