ACRS Stock — Aclaris Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company focused on discovering and developing novel small and large molecule product candidates for immuno-inflammatory diseases. Our proprietary KINect drug discovery platform coupled with our integrated discovery approach to small and large molecules enables us to identify and advance product candidates designed to have superior target affinity, specificity and potency.

Source: 10-K FY2025 via SEC EDGAR

Share price

$3.90

Market cap

$574.1M

Cash

$204.6M

Enterprise value

$369.5M

Balance sheet

Cash	$204.6M
Debt	$0.0M
Net cash	$204.6M
Enterprise value	$369.5M
Basic shares	158.6M shares
Fully diluted shares	169.0M shares
Fully diluted market cap	$659.2M
Cash per share	$1.29
Quarterly burn	$19.8M
Cash runway	8.6 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

147.2M

Pre-funded warrants

3.0M

Options

15.4M

RSUs

3.4M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

169.0M

Cap table as of 2026-08-04.

Price history

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Next catalyst

ATI-9494 · Est. Nov 15, 2026 · quarter midpoint · guided Now

Recently reported

ATI-052 Phase 1b Positive · 2026-10-27

Phase 1b proof-of-concept trials (AD and asthma) · atopic dermatitis and asthma

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	ATI-9494 IND filing	Not disclosed	Not disclosed	Q4 2026
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	bosakitug (ATI-045) Phase 2 in atopic dermatitis, topline · NCT07011706	Phase 2	atopic dermatitis	Q4 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Bosakitug

Phase 2 · Active Modality: monoclonal antibody

Aliases ATI-045

Target TSLP

Partnerships Biosion, Inc.: exclusive global license ex-Greater China (Aclaris-licensed); CTTQ licenses Greater China rights from Biosion directly

Indications

Atopic dermatitis (Phase 2)

Catalysts

— second half of 2026

Status note Pipeline disclosure from primary 10-Q Business section. Phase 2 trial in moderate-to-severe AD initiated June 2025. Bosakitug is also studied by CTTQ in China (severe asthma, CRSwNP, COPD); Aclaris clinical focus is dermatological immuno-inflammatory indications.

ATI-2138

Phase 2 · Active Modality: oral small molecule

Target ITK/JAK3

Indications

Atopic dermatitis (Phase 2)

Status note Phase 2a trial in moderate-to-severe AD completed; top-line announced July 2025. Company is exploring additional indications relevant to dual pharmacology, including certain alopecias and other inflammatory disorders.

ATI-052

Phase 1 · Active Modality: bispecific antibody

Target TSLP/IL-4R alpha

Partnerships Biosion, Inc.: exclusive global license ex-Greater China

Indications

Atopic dermatitis (Phase 1)
Asthma (Phase 1)

Catalysts

— second half of 2026
— second half of 2026

Status note Phase 1a SAD/MAD in healthy volunteers completed (Jan 2026); complete top-line from SAD/MAD expected Q2 2026. Phase 1b proof-of-concept trials in AD (initiated Jan 2026) and asthma (initiated Feb 2026).

ATI-9494

Preclinical · Active Modality: oral small molecule

Target ITK/TXK

Catalysts

— second half of 2026

Status note Dual ITK/TXK (Resting Lymphocyte Kinase) inhibitor; other covalent JAK-sparing ITK inhibitors also in discovery/lead optimization.

Lepzacitinib

Stage not disclosed · Active Modality: topical small molecule

Aliases ATI-1777

Target JAK1/JAK3

Partnerships Pediatrix Therapeutics: exclusive Greater China development/commercialization rights (2022); Aclaris seeking global partner (ex-Greater China)

Indications

Atopic dermatitis (Stage not disclosed)

Status note Topical 'soft' JAK 1/3 inhibitor; company is seeking a global development and commercialization partner.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	ATI-045
Lead indication	Atopic Dermatitis
Lead phase	Phase 2
Active trials	1
Collaborator trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07011706	Phase 2	Active, not recruiting	Sponsor	ACRS	—	Atopic Dermatitis; Atopic; Dermatitis	Q4 2026 Est. Nov 15, 2026 · quarter midpoint
NCT06374459	Phase 2	Recruiting	Collaborator	Washington University School of Medicine	—	Hormone Receptor Positive HER-2 Negative Metastatic Breast Cancer	—
NCT06648434	Phase 1	Recruiting	Collaborator	Washington University School of Medicine	—	Metastatic Pancreatic Ductal Adenocarcinoma; Pancreatic Cancer; Cancer of the Pancreas	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 2 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Aclaris Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	12,723,026	+5,918,954	0.58%	2026-08-14
Vivo Capital	6,694,637	+27,971	3.23%	2026-08-14
Frazier Life Sciences	4,925,374	no change	0.57%	2026-08-14
Braidwell LP	2,142,348	+443,232	0.42%	2026-08-14
Aisling Capital	434,455	no change	0.49%	2026-08-13
OrbiMed Advisors	421,500	+421,500	0.04%	2026-08-14
Logos Global Management	200,000	-300,000	0.05%	2026-08-14
ADAR1 Capital Management	0	-132,426	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ACRS — Aclaris Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

ACRS — Aclaris Therapeutics Inc.