Deep Track entities hold 9.35M Aclaris shares (ACRS) — 7.01% stake

Rhea-AI Filing Summary

Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd. and David Kroin report beneficial ownership of 9,345,000 shares of Aclaris Therapeutics common stock, representing 7.01% of the class as of March 16, 2026. The filing states the holders have shared voting and dispositive power over 9,345,000 shares and zero sole voting or dispositive power.

The filing explains the percent is calculated using 133,295,189 shares, derived from 120,595,189 shares outstanding as of January 30, 2026 plus 12.7 million shares sold under a sales agreement from March 2, 2026 through March 9, 2026. The report is a joint Schedule 13G filing under Rule 13d-1(k) and lists Deep Track Capital, LP as the relevant entity for control purposes.

Insights

Investor Relations / Governance Expert

Joint 13G filing reports a passive, shared 7.01% stake with shared voting power.

The filing shows three reporting persons filing jointly: Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin. Each is reported as beneficially owning 9,345,000 shares with shared voting and dispositive power, and zero sole power.

Because this is a Schedule 13G filed under a joint statement, it presents as a passive/portfolio disclosure rather than an active acquisition; subsequent filings would be required if the group’s intent or ownership status changes.

Quantitative Securities Analyst

Ownership percentage is computed on a 133,295,189-share base derived from recent outstanding and sales data.

The 7.01% stake is calculated using 133,295,189 shares, which the filing says equals 120,595,189 shares outstanding as of January 30, 2026 plus 12.7 million shares sold under a March sales agreement. The 9,345,000 share count and the denominator are explicitly stated.

Watch for any Form 13D/13G amendments or Form 4 filings that would update voting/dispositive power or change the group’s status; the filing ties control attribution to Deep Track Capital, LP.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Aclaris Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.00001 par value

(Title of Class of Securities)

(CUSIP Number)

03/09/2026

(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 No.

1

Names of Reporting Persons

Deep Track Capital, LP

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 9,345,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,345,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,345,000.00

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)

7.0 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

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 0.00
6	Shared Voting Power 9,345,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,345,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,345,000.00

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)

7.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

David Kroin

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,345,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,345,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,345,000.00

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)

7.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

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: (i) Deep Track Capital, LP (ii) Deep Track Biotechnology Master Fund, Ltd. (iii) David Kroin
(b)	Address or principal business office or, if none, residence: (i) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (ii) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Delaware (ii) Cayman Islands (iii) United States
(d)	Title of class of securities: Common Stock, $0.00001 par value
(e)	CUSIP No.:
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: 9,345,000
(b)	Percent of class: 7.01%
(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: 9,345,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 9,345,000
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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
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.

Deep Track Capital, LP

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	03/16/2026

Deep Track Biotechnology Master Fund, Ltd.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Director
Date:	03/16/2026

David Kroin

Signature:	/s/ David Kroin
Name/Title:	David Kroin
Date:	03/16/2026

Exhibit Information

Item 4: Information with respect to the Reporting Persons' ownership of the Common Stock as of March 16, 2026 is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is determined using 133,295,189 shares, calculated using 120,595,189 Common Stock outstanding as of January 30, 2026, as reported by the issuer on its 10-K filed with the SEC on February 26, 2026 and 12.7 million shares sold from 3/2/26 through 3/9/26 pursuant to sales agreement with Leerink Partners LLC and Cantor Fitgerald & Co as disclosed in the 8K filed on March 9, 2026. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: March 16, 2026 Deep Track Capital, LP By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser Deep Track Biotechnology Master Fund, Ltd. By: /s/ David Kroin David Kroin, Director David Kroin By: /s/ David Kroin David Kroin

FAQ

What stake does Deep Track report in Aclaris Therapeutics (ACRS)?

They report beneficial ownership of 9,345,000 shares, equal to 7.01% of Aclaris common stock as of March 16, 2026. The filing shows shared voting and dispositive power over those shares.

How was the 7.01% ownership percentage calculated for ACRS?

The percentage uses a base of 133,295,189 shares, calculated from 120,595,189 shares outstanding as of January 30, 2026 plus 12.7 million shares sold under a sales agreement in early March 2026.

Which entities filed the joint Schedule 13G for ACRS?

The joint filing lists Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin, with Deep Track Capital, LP identified as the relevant entity for control purposes.

Do the reporting persons claim sole voting or dispositive power over the shares?

No. The filing reports 0 sole voting power and 0 sole dispositive power; it reports 9,345,000 shared voting and 9,345,000 shared dispositive power.

Is this Schedule 13G an active acquisition filing or a passive disclosure?

This Schedule 13G is a joint filing under Rule 13d-1(k), presenting as a passive disclosure of beneficial ownership rather than an active acquisition statement; changes would require amendments.