BML Investment reports 11.9% stake in Aclaris

Aclaris Therapeutics, Inc. received an updated ownership report showing that BML Investment Partners, L.P. beneficially owns 14,250,000 shares of its common stock, representing 11.9% of the class as of 12/31/2025.

Rhea-AI Filing Summary

Aclaris Therapeutics, Inc. received an updated ownership report showing that BML Investment Partners, L.P. beneficially owns 14,250,000 shares of its common stock, representing 11.9% of the class as of 12/31/2025.

BML reports shared power to vote and dispose of all these shares, with no sole voting or dispositive power. The filing states the securities were not acquired or held for the purpose of changing or influencing control of Aclaris.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Aclaris Therapeutics (ACRS) Schedule 13G/A disclose about BML Investment's stake?

The Schedule 13G/A reports that BML Investment Partners, L.P. beneficially owns 14,250,000 shares of Aclaris Therapeutics common stock, equal to 11.9% of the outstanding class as of December 31, 2025. All voting and dispositive powers are reported on a shared, not sole, basis.

How many Aclaris (ACRS) shares does BML Investment report beneficially owning and what percentage of the company is this?

BML Investment Partners, L.P. reports beneficial ownership of 14,250,000 Aclaris Therapeutics common shares, representing 11.9% of the class. This ownership is reported with shared voting and dispositive power, while sole voting and sole dispositive power are each listed as zero in the filing.

Does BML Investment seek to influence control of Aclaris Therapeutics according to the Schedule 13G/A?

The certification states the securities were not acquired and are not held for the purpose of, or with the effect of, changing or influencing control of Aclaris Therapeutics. It also notes they are not held in connection with any transaction having that purpose or effect, subject to a limited nomination exception.

Who ultimately controls BML Investment Partners’ Aclaris (ACRS) holdings according to the filing?

The filing explains BML Investment Partners, L.P. is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC. Braden M. Leonard is the managing member of BML Capital Management, LLC and is deemed the indirect owner of the shares held directly by BML Investment Partners.

What voting and dispositive powers over Aclaris shares does BML Investment report?

BML Investment reports zero sole power to vote or dispose of Aclaris shares, and shared power over 14,250,000 shares for both voting and dispositive authority. This means all reported influence over the shares is described as shared, rather than controlled solely by the reporting person.

Does the Schedule 13G/A describe BML Investment and related parties as a statutory group?

The explanatory comments state that, despite shared beneficial ownership, the reporting persons disclaim that they constitute a statutory group under Rule 13d-5(b)(1) of the Exchange Act. This indicates they do not concede being treated as a formal group for regulatory ownership purposes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/09/2026 - 01:42 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Aclaris Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.00001 par value

(Title of Class of Securities)

00461U105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 00461U105

1

Names of Reporting Persons

BML Investment Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 14,250,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 14,250,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,250,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Aclaris Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 701 Lee Road, Suite 103, Wayne, Pennsylvania, 19087
Item 2.
(a)	Name of person filing: BML Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 65 E Cedar - Suite 2 Zionsville, IN 46077
(c)	Citizenship: Delawre
(d)	Title of class of securities: Common Stock, $0.00001 par value
(e)	CUSIP No.: 00461U105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 14250000
(b)	Percent of class: 11.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 14250000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 14250000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BML Investment Partners, L.P.

Signature:	Braden M Leonard
Name/Title:	BML Capital Management, LLC its General Partner By: Braden M Leonard, its Managing Member
Date:	02/09/2026

Comments accompanying signature: BML Investment Partners, L.P. is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC. The managing member of BML Capital Management, LLC is Braden M. Leonard. As a result, Braden M. Leonard is deemed to be the indirect owner of the shares held directly by BML Investment Partners, L.P. Despite such shared beneficial ownership, the reporting persons disclaim that they constitute a statutory group within the meaning of Rule 13d-5(b)(1) of the Exchange Act.