Vivo Opportunity Reports 4.3% Stake in Aclaris

Vivo Opportunity Fund entities report beneficial ownership stakes in Aclaris Therapeutics, Inc. Vivo Opportunity Fund Holdings, L.P.

Rhea-AI Filing Summary

Vivo Opportunity Fund entities report beneficial ownership stakes in Aclaris Therapeutics, Inc. Vivo Opportunity Fund Holdings, L.P. (via its general partner Vivo Opportunity, LLC) holds 5,966,370 shares of Common Stock, representing 4.3% of the class based on 139,663,680 shares outstanding as of April 30, 2026. Vivo Opportunity Cayman Fund, L.P. (via its general partner Vivo Opportunity Cayman, LLC) holds 700,296 shares, representing 0.5% of the class.

The filing is an Amendment No. 1 to a Schedule 13G/A and lists sole voting and dispositive power for each reporting entity over the stated shares. Signatures show transactions were certified by Kevin Dai as Managing Member on May 12, 2026.

Insights

Institutional Investor Analyst

Large passive stakes disclosed by Vivo Opportunity entities; positions are clearly quantified.

The filing lists 5,966,370 shares (4.3%) held by Vivo Opportunity Fund Holdings, L.P. and 700,296 shares (0.5%) held by Vivo Opportunity Cayman Fund, L.P., with sole voting and dispositive power noted.

These holdings are contextualized to April 30, 2026 outstanding shares; subsequent filings may show changes.

Corporate Governance Specialist

Disclosure identifies control relationships and certifies authority to report holdings.

The Schedule 13G/A ties record ownership to limited partnership vehicles and names general partners (Vivo Opportunity, LLC and Vivo Opportunity Cayman, LLC) holding sole voting and dispositive power. The form includes signatures by Kevin Dai as Managing Member.

This is a routine beneficial ownership disclosure under the securities rules.

Key Figures

Vivo Opportunity Fund Holdings stake: 5,966,370 shares Vivo Opportunity Cayman Fund stake: 700,296 shares Percent of class (Fund Holdings): 4.3% +2 more

5 metrics

Vivo Opportunity Fund Holdings stake 5,966,370 shares Beneficial ownership reported in Schedule 13G/A

Vivo Opportunity Cayman Fund stake 700,296 shares Beneficial ownership reported in Schedule 13G/A

Percent of class (Fund Holdings) 4.3% Based on 139,663,680 shares outstanding as of April 30, 2026

Percent of class (Cayman Fund) 0.5% Based on 139,663,680 shares outstanding as of April 30, 2026

Shares outstanding used for calculation 139,663,680 shares As of <date>April 30, 2026</date>, per Issuer's Form 10-Q

Key Terms

beneficially owned, sole dispositive power, Schedule 13G/A

3 terms

beneficially owned regulatory

"Amount beneficially owned: Vivo Opportunity, LLC beneficially owns 5,966,370 shares"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 5,966,370 shares"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"Amendment No. 1 ) Aclaris Therapeutics, Inc. Common Stock"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

FAQ

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

What stake does Vivo Opportunity report in ACRS?

Vivo Opportunity Fund Holdings, L.P. reports 5,966,370 shares, equal to 4.3% of common stock based on 139,663,680 outstanding shares as of April 30, 2026. The Cayman fund reports 700,296 shares (0.5%).

Who has voting and dispositive power over the reported ACRS shares?

The filing states the reporting entities have sole voting and sole dispositive power over their respective shares: Vivo Opportunity entities each list sole power to vote and dispose of the stated shares.

Which entities filed the Schedule 13G/A for ACRS?

The filing names Vivo Opportunity Fund Holdings, L.P. and Vivo Opportunity, LLC, and Vivo Opportunity Cayman Fund, L.P. and Vivo Opportunity Cayman, LLC as the reporting persons, with addresses in Palo Alto, California.

On what share count is the percentage ownership based?

Percentages are calculated using 139,663,680 shares outstanding as of April 30, 2026, as reported in Aclaris Therapeutics' Form 10-Q filed on May 7, 2026, cited in the Schedule 13G/A.

Who signed the Schedule 13G/A amendment for these holdings?

All signatures are by Kevin Dai in capacities as Managing Member of Vivo Opportunity, LLC and Vivo Opportunity Cayman, LLC, dated May 12, 2026, certifying the filing.

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

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Accepted by SEC EDGAR 05/12/2026 - 09:48 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. 1)

Aclaris Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.00001 par value

(Title of Class of Securities)

00461U105

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 00461U105

1

Names of Reporting Persons

Vivo Opportunity Fund Holdings, 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 5,966,370.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,966,370.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,966,370.00

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)

4.3 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The number represents shares of common stock, $0.00001 par value (the "Common Stock") of Aclaris Therapeutics, Inc. (the "Issuer") held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. The percentage of class is based on 139,663,680 shares of Common Stock outstanding as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the "SEC") on May 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 00461U105

1

Names of Reporting Persons

Vivo Opportunity, LLC

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 5,966,370.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,966,370.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,966,370.00

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)

4.3 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The number represents shares of Common Stock of the Issuer held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. The percentage of class is based on 139,663,680 shares of Common Stock outstanding as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 00461U105

1

Names of Reporting Persons

Vivo Opportunity Cayman Fund, 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 700,296.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 700,296.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

700,296.00

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)

0.5 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The number represents shares of Common Stock of the Issuer held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. The percentage of class is based on 139,663,680 shares of Common Stock outstanding as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 00461U105

1

Names of Reporting Persons

Vivo Opportunity Cayman, LLC

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 700,296.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 700,296.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

700,296.00

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)

0.5 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The number represents shares of Common Stock of the Issuer held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. The percentage of class is based on 139,663,680 shares of Common Stock outstanding as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2026.

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, PA 19087
Item 2.
(a)	Name of person filing: Vivo Opportunity Fund Holdings, L.P. and its General Partner Vivo Opportunity, LLC Vivo Opportunity Cayman Fund, L.P. and its General Partner Vivo Opportunity Cayman, LLC
(b)	Address or principal business office or, if none, residence: 192 Lytton Avenue, Palo Alto, CA 94301
(c)	Citizenship: Vivo Opportunity Fund Holdings, L.P. is a Delaware limited partnership. Vivo Opportunity, LLC is a Delaware limited liability company. Vivo Opportunity Cayman Fund, L.P. is a Cayman Islands limited partnership. Vivo Opportunity Cayman, LLC is a Cayman Islands limited liability company.
(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: Vivo Opportunity, LLC beneficially owns 5,966,370 shares of Common Stock. The securities are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity Cayman, LLC beneficially owns 700,296 shares of Common Stock. The securities are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P.
(b)	Percent of class: Vivo Opportunity Fund Holdings, L.P.: 4.3% Vivo Opportunity, LLC: 4.3% Vivo Opportunity Cayman Fund, L.P.: 0.5% Vivo Opportunity Cayman, LLC.: 0.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Vivo Opportunity Fund Holdings, L.P.: 5,966,370 shares Vivo Opportunity, LLC: 5,966,370 shares Vivo Opportunity Cayman Fund, L.P.: 700,296 shares Vivo Opportunity Cayman, LLC: 700,296 shares
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: Vivo Opportunity Fund Holdings, L.P.: 5,966,370 shares Vivo Opportunity, LLC: 5,966,370 shares Vivo Opportunity Cayman Fund, L.P.: 700,296 shares Vivo Opportunity Cayman, LLC: 700,296 shares
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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 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.

Vivo Opportunity Fund Holdings, L.P.

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member of Vivo Opportunity, LLC, General Partner
Date:	05/12/2026

Vivo Opportunity, LLC

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member
Date:	05/12/2026

Vivo Opportunity Cayman Fund, L.P.

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member of Vivo Opportunity Cayman, LLC, General Partner
Date:	05/12/2026

Vivo Opportunity Cayman, LLC

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member
Date:	05/12/2026