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Aclaris Therapeutics develops novel product candidates for immuno-inflammatory diseases as a clinical-stage biopharmaceutical company. News about ACRS centers on clinical and corporate updates for ATI-052, an investigational anti-TSLP/IL-4Rα bispecific antibody; ATI-2138, an oral ITK/JAK3 inhibitor; and bosakitug (ATI-045), an anti-TSLP antibody program. Recurring updates include trial results and medical-meeting presentations in dermatology and inflammatory disease, development work in atopic dermatitis, lichen planus and asthma, financial results, R&D spending, royalty revenue from license agreements and healthcare conference presentations.
Aclaris Therapeutics (NASDAQ: ACRS) reported its Q2 2024 financial results and provided a corporate update. Key highlights include:
1. Initiation of Phase 2a study activities for ATI-2138 in atopic dermatitis.
2. Strengthened balance sheet through sale of future OLUMIANT® royalties for up to $31.5 million.
3. Q2 2024 net loss of $11.0 million, compared to $29.6 million in Q2 2023.
4. Total revenue increased to $2.8 million in Q2 2024 from $1.9 million in Q2 2023.
5. R&D expenses decreased to $8.8 million from $25.3 million year-over-year.
6. Cash, cash equivalents, and marketable securities of $149.9 million as of June 30, 2024.
The company expects its current cash position, including the $26.5 million from the OLUMIANT® royalty sale, to fund operations into 2028.
Aclaris Therapeutics (NASDAQ: ACRS) has announced the sale of a portion of its future royalty payments and certain milestones for OLUMIANT® (baricitinib) to OMERS Life Sciences for up to $31.5 million. The deal includes a $26.5 million upfront payment and up to $5.0 million in potential milestone payments based on OLUMIANT sales in 2024. This non-dilutive transaction strengthens Aclaris' balance sheet, providing financial flexibility to pursue value-creating opportunities and invest in internal programs. OMERS acquires a portion of the royalty for worldwide net sales of OLUMIANT for alopecia areata from April 1, 2024, through the remainder of the royalty term, as well as 100% of the remaining anniversary milestone payments from Eli Lilly.
Aclaris Therapeutics (NASDAQ: ACRS) announced that Dr. Neal Walker, Interim President & CEO, will participate in a fireside chat at the Goldman Sachs 45th Annual Global Healthcare Conference. The event will take place on June 11, 2024, at 11:20 AM ET in Miami, Florida.
The chat will be webcasted and accessible via the company's website, where it will be archived for at least 30 days.
Aclaris Therapeutics reported its financial results for the first quarter of 2024 and provided a corporate update. The company is progressing ATI-2138 into a Phase 2a trial for atopic dermatitis. Aclaris also announced positive results for its various ITK inhibitor programs and highlighted financial data showing a decrease in net loss and revenue. The company anticipates lower cash expenditures in future quarters due to ongoing strategic reviews.
Aclaris Therapeutics, Inc. (NASDAQ: ACRS) will announce its first quarter 2024 financial results on May 7, 2024. The company focuses on developing drug candidates for immuno-inflammatory diseases. A conference call will follow to provide a corporate update.
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