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ACRS

Aclaris Therapeutics, Inc.

ACRS

Aclaris Therapeutics, Inc. • NASDAQ
$2.83 ▼ -1.74% (-0.05)
Market Cap $306.62 M
52w High $4.24
52w Low $1.05
Dividend Yield 0%
P/E -1.79
Volume 504.72K
Outstanding Shares 108.35M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.299M ▲ $19.91M ▲ $-14.614M ▲ -442.983% ▲ $-0.12 ▲ $-14.404M ▲
Q2-2025 $1.777M ▲ $18.335M ▼ $-15.429M ▼ -868.261% ▲ $-0.13 ▼ $-16.794M ▲
Q1-2025 $1.455M ▼ $19.033M ▼ $-15.085M ▲ -1.037K% ▲ $-0.12 ▲ $-17.656M ▼
Q4-2024 $9.211M ▲ $99.585M ▲ $-96.552M ▼ -1.048K% ▼ $-1.01 ▼ $-13.927M ▼
Q3-2024 $4.346M $12.409M $-7.586M -174.551% $-0.11 $-9.492M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $95.912M ▼ $175.534M ▼ $55.434M ▼ $120.1M ▼
Q2-2025 $99.806M ▼ $189.147M ▼ $57.408M ▲ $131.739M ▼
Q1-2025 $105.314M ▼ $198.094M ▼ $54.028M ▼ $144.066M ▼
Q4-2024 $113.594M ▼ $220.327M ▲ $64.773M ▲ $155.554M ▲
Q3-2024 $127.722M $182.394M $52.243M $130.151M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-14.614M ▲ $-10.932M ▼ $13.83M ▲ $-3.044M ▼ $-146K ▲ $-10.955M ▼
Q2-2025 $-15.429M ▼ $-9.993M ▲ $5.047M ▼ $-9K ▲ $-4.955M ▼ $-10.014M ▲
Q1-2025 $-15.085M ▲ $-13.057M ▼ $19.119M ▲ $-275K ▼ $5.787M ▲ $-13.1M ▲
Q4-2024 $-96.552M ▼ $-8.938M ▼ $-88.723M ▼ $74.58M ▲ $-23.081M ▼ $-44.748M ▼
Q3-2024 $-7.586M $22M $2.795M $22K $24.817M $22M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Contract research
Contract research
 $0 ▲$0 ▲$0 ▲$0 ▲
License and Service
License and Service
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Aclaris is still essentially a research-stage company, not a commercial one. Revenue is tiny and has not materially grown over the past several years, so the business is not yet supported by product sales. Operating costs tied to research, development, and overhead significantly exceed revenue, leading to steady operating losses each year. Net losses have been persistent and fairly large relative to the company’s size, and earnings per share have remained negative. In simple terms, the income statement shows a company investing heavily in its pipeline without yet seeing meaningful sales to offset those costs.

Balance Sheet

Balance Sheet The balance sheet shows a company funded mainly by shareholder capital rather than debt. Equity makes up the bulk of the capital structure, and there is little to no financial leverage, which reduces interest and refinancing risk. Total assets have been relatively stable, with cash forming a meaningful, though not dominant, portion. There is no sign of an overburdened balance sheet, but the asset base is modest, reflecting a lean, clinical-stage operation that depends on equity funding and careful cash management instead of borrowing.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, which is typical for a clinical-stage biotech focused on trials rather than product sales. The company is effectively using cash to fund research, clinical studies, and overhead. Importantly, the cash burn from operations appears to have eased recently compared with prior years, suggesting some cost discipline or timing effects in spending. Capital spending needs are minimal, so free cash flow essentially mirrors operating cash flow. The key ongoing risk is that the business must periodically raise funds or secure partnerships to support continued development until products, if successful, can generate meaningful cash inflows.

Competitive Edge

Competitive Edge Aclaris operates in a crowded and highly competitive immunology and inflammation space, facing large pharmaceutical companies and other biotech innovators. Its main competitive strength lies in its specialized focus on kinase biology and its proprietary KINect platform, which is designed to target difficult-to-drug kinases. The company also benefits from having an internal discovery engine via Confluence Discovery Technologies, which can speed early research and provide capabilities that smaller peers may lack. However, without approved products and with limited revenue, its competitive position is still largely potential rather than proven, and it remains highly dependent on favorable clinical results and the ability to differentiate its therapies from existing and emerging treatments.

Innovation and R&D

Innovation and R&D Innovation is the core of Aclaris’s story. The KINect platform gives it a structured way to discover novel small molecules aimed at key inflammatory pathways that have been hard to target. The company is also expanding into biologics, including monoclonal and bispecific antibodies, which broadens its toolkit and potential applications. The pipeline includes several differentiated assets, such as a dual ITK/JAK3 inhibitor for T‑cell–driven diseases and antibodies focused on the TSLP and IL‑4 pathways, which are central to various allergic and inflammatory conditions. This mix of first-in-class and potential best-in-class programs shows a willingness to pursue ambitious scientific goals. The flip side is that these programs are still in clinical testing, so scientific promise must still translate into real-world safety, efficacy, and regulatory success.

Summary

Overall, Aclaris is an early-stage, research-driven biotech with a strong scientific narrative but limited commercial validation so far. Financially, it shows the classic profile of a clinical-stage company: small and relatively flat revenue, steady operating and net losses, and ongoing negative cash flow from operations. The balance sheet is mostly equity-funded with little debt, which lowers financial strain but underscores reliance on capital markets and partnerships. Competitively, the company’s value rests on its proprietary KINect platform, kinase expertise, and innovative antibody programs rather than current market share. The main opportunity lies in advancing its pipeline through clinical milestones that could unlock partnerships or future product revenues, while the main risks stem from clinical, regulatory, and funding uncertainty that is typical for this stage of development.

NEWS

November 25, 2025 · 8:00 AM UTC

Aclaris Therapeutics to Participate in the Piper Sandler 37th Annual Healthcare Conference

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November 6, 2025 · 6:59 AM UTC

Aclaris Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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October 29, 2025 · 7:30 AM UTC

Aclaris Therapeutics to Participate in Three November Healthcare Conferences

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September 30, 2025 · 7:00 AM UTC

Aclaris Therapeutics to Host In-Person and Webcast R&D Day, “Patient Focused Innovation: Addressing Gaps in Immuno-Inflammatory Markets”, in New York on October 14, 2025

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