Aclaris Extends Cash Runway to First Half of 2029

The Tip Desk · November 11, 2026 · 3 min read

Cash, cash equivalents and marketable securities were $204.6 million at September 30, 2026, and a $50.0 million October equity raise lifted the company’s stated runway from the end of 2028.

Aclaris Therapeutics (ACRS), a clinical-stage biopharmaceutical company developing product candidates for immuno-inflammatory diseases, reported cash, cash equivalents and marketable securities of $204.6 million as of September 30, 2026, compared with $151.4 million at December 31, 2025.

In October 2026 the company sold 7.8 million shares of common stock and issued pre-funded warrants to purchase 6.5 million shares for aggregate gross proceeds of $50.0 million. Taking those net proceeds into account, Aclaris said cash would be sufficient to fund operations through the first half of 2029, without giving effect to any potential business-development transactions or additional financing. That outlook extended the runway stated in the second-quarter update, which had said cash would enable development through the end of 2028.

Net loss was $18.5 million for the third quarter of 2026, compared with $14.6 million a year earlier. Net loss per share was $0.12 in both periods, as weighted-average common shares outstanding rose to 149.4 million from 122.6 million.

Total revenue was $1.5 million in the third quarter of 2026 versus $3.3 million in the third quarter of 2025. The company said the decrease was driven primarily by a sales milestone achieved under the Sun Pharma license agreement in the year-ago quarter. Licensing revenue was $1.18 million and contract research revenue was $300 thousand.

Research and development expenses were $16.1 million, compared with $13.0 million a year earlier. The company said the increase was driven primarily by ATI-052 manufacturing and Phase 1b clinical costs in atopic dermatitis and asthma, as well as manufacturing and preclinical work on ATI-9494. General and administrative expenses were $6.0 million, compared with $4.9 million, which the company attributed to higher professional and legal costs as well as personnel and stock-based compensation. Revaluation of contingent consideration produced a $0.6 million gain, versus a $0.1 million charge a year earlier, which the company tied to higher discount rates and changes in estimated sales levels.

The quarter’s clinical update centered on ATI-052, an investigational bispecific anti-TSLP/IL-4Rα antibody. Aclaris said it intends to prioritize Phase 2b development of ATI-052 initially in eosinophilic esophagitis, where the company believes the candidate is mechanistically well-matched, and that it expects to complete an assessment of an additional Phase 2b indication shortly, likely either atopic dermatitis or asthma. That sequence differed from the second-quarter plan, which had called for a Phase 2b asthma start in the fourth quarter of 2026 plus startup of an AD Phase 2b and an EoE proof-of-concept.

Chief Executive Officer Neal Walker said the company looks forward to starting a Phase 2b trial in eosinophilic esophagitis early next year. He also pointed to Phase 2 results in atopic dermatitis from bosakitug and the start of a Phase 2b trial of oral ITK/JAK3 inhibitor modzatinib in lichen planus, both in the coming few weeks.

Startup activities for the modzatinib lichen planus Phase 2b trial were ongoing, with first site activation expected in November 2026. There are currently no approved therapies in that indication, the company said. An IND filing for dual ITK/TXK inhibitor ATI-9494 remained on track for the fourth quarter of 2026. Top-line results from the Phase 2 ADMIRATION trial of bosakitug in 109 patients with moderate-to-severe atopic dermatitis remained expected in the fourth quarter of 2026.