WAYNE, PA — Aclaris Therapeutics, Inc. (NASDAQ: ACRS) has announced its fourth quarter and full-year 2024 financial results, along with key pipeline advancements and corporate updates signaling a pivotal year ahead.
Financial Highlights
Aclaris ended 2024 with $203.9 million in cash, cash equivalents, and marketable securities, an increase from $181.9 million in 2023. The company expects its cash runway to support operations into 2028, excluding potential new transactions or fundraising activities.
Total revenue for Q4 2024 was $9.2 million, a decline from $17.6 million in Q4 2023. For the full year, revenue decreased to $18.7 million from $31.2 million in 2023. These decreases reflect one-time payments received in 2023, countered partially by commercial milestones achieved in 2024.
Research and development expenses fell to $33.6 million for the year, from $98.4 million in 2023, while general and administrative expenses also declined significantly year-over-year. Net losses for Q4 totaled $96.6 million, up from $1.5 million in 2023, largely due to an $86.9 million in-process research and development charge tied to a new licensing agreement with Biosion, Inc.
Strategic Pipeline Advances
Aclaris highlighted significant progress in advancing its pipeline of innovative therapies and establishing clinical milestones for 2025. A key development was an exclusive global licensing agreement with Biosion, adding two promising antibody assets to its portfolio:
- Bosakitug (ATI-045): A Phase 2-ready monoclonal antibody targeting TSLP, with significant potential in immuno-inflammatory conditions like severe asthma and atopic dermatitis.
- ATI-052: A preclinical bispecific antibody targeting TSLP and IL4R, expected to enter clinical trials following an IND submission in early 2025.
Upcoming milestones include CTTQ’s Phase 2 data for bosakitug in severe asthma and chronic rhinosinusitis with nasal polyps (CRSwNP), anticipated in the first half of 2025. Additionally, Aclaris expects to see top-line results from a Phase 2a trial of ATI-2138, an investigational oral ITK/JAK3 inhibitor for atopic dermatitis, in the same timeframe.
“2024 was a transformative year that has positioned Aclaris with multiple clinical catalysts expected in 2025 across our expanded pipeline,” said Dr. Neal Walker, Chief Executive Officer and Chair of the Board of Directors.
Corporate Developments
Aclaris also strengthened its leadership team in 2024:
- Dr. Neal Walker resumed his role as CEO, transitioning from interim status.
- Dr. Hugh Davis joined as President and COO, bringing over 35 years of experience in biologics development.
- William Roberts was appointed Senior Vice President of Corporate Communications and Investor Relations, enhancing the company’s engagement with stakeholders.
To solidify its financial standing, Aclaris completed an $80 million private placement in November 2024, further extending its cash runway.
Looking Ahead
With a robust pipeline, key clinical readouts, and long-term financial security, Aclaris is gearing up for a defining year in 2025. The company’s focus on advancing differentiated therapies aligns with its mission to address unmet needs for patients in immuno-inflammatory and respiratory conditions.
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