ACRS · Aclaris Therapeutics, Inc.

Aclaris Therapeutics reported a Q1 2026 net loss of $19.8 million, widening from $15.1 million in Q1 2025, primarily due to increased research and development expenses of $15.7 million versus $11.6 million last year. The rise in R&D was driven by clinical development and manufacturing costs for ATI-052 Phase 1a/1b programs in atopic dermatitis and asthma, as well as ATI-9494, partially offset by lower ATI-2138 expenses. Revenue grew to $2.0 million from $1.5 million, supported by higher royalties from Lilly and Sun Pharma license agreements. General and administrative expenses edged up to $6.7 million from $6.1 million due to professional, legal, and personnel costs. CEO Dr. Neal Walker highlighted progress in developing best-in-class compounds for immuno-inflammatory diseases, with ATI-052's Phase 1a results exceeding targets: a 45-day half-life, complete sustained target engagement through weeks 12-20, and tolerability supporting up to quarterly dosing. This validates advancement to Phase 2b in asthma by Q4 2026, alongside Phase 1b POC top lines in H2 2026. Bosakitug Phase 2 in AD completed enrollment with Q4 2026 data expected. ATI-2138 showed strong Phase 2a efficacy in AD and plans Phase 2b in lichen planus subtypes starting H2 2026, addressing unmet needs. ATI-9494 IND filing is set for H2 2026. Balance sheet strengthened via $59.8 million from 18.4 million share sale in March, lifting cash to $190.8 million from $151.4 million at year-end 2025, funding operations through 2028 without additional financing.