WAYNE, PA — Aclaris Therapeutics, Inc. (NASDAQ: ACRS) announced its financial results for the second quarter of 2024 and provided a corporate update. The company reported net revenue of $2.8 million, an increase from $1.9 million in the same period last year.
Research and Development Highlights:
- ATI-2138: Aclaris is set to enroll patients in a Phase 2a trial for moderate to severe atopic dermatitis.
- ITK Selective Compound: Progressing to development candidate selection for autoimmune indications.
- Lepzacitinib: Positive results from a Phase 2b trial in atopic dermatitis; Aclaris seeks a global commercialization partner.
- Zunsemetinib: Supporting Washington University trials for pancreatic and metastatic breast cancer.
Dr. Neal Walker, Interim President & CEO, stated, “With study activities underway for our ATI-2138 Phase 2a trial in moderate to severe atopic dermatitis and the strengthening of our balance sheet through the completion of our royalty purchase agreement with OMERS, we’re well-positioned to drive our strategic initiatives forward.”
Financial Highlights:
- Net Loss: $11.0 million for Q2 2024, down from $29.6 million in Q2 2023.
- R&D Expenses: $8.8 million, down from $25.3 million.
- G&A Expenses: $4.8 million, down from $8.3 million.
- Licensing Expenses: $1.3 million, up from $0.6 million.
Buy, Sell, or Hold?
Aclaris shows reduced losses and increased revenue, indicating better financial health. However, the company is still in the early stages of developing its drug pipeline. Given these mixed signals, Aclaris Therapeutics is a Hold. Investors should monitor clinical trial progress and any new partnerships.
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