WAYNE, PA — Aclaris Therapeutics Inc. (NASDAQ: ACRS) raised $40.2 million through an at-the-market stock sale after the second quarter, extending its expected cash runway through the end of 2028 as spending rises to advance a pipeline of experimental treatments for immuno-inflammatory diseases.
The Wayne-based clinical-stage biotechnology company sold 7.3 million shares after June 30 through its agreement with Leerink Partners LLC and Cantor Fitzgerald & Co. Aclaris plans to use part of the additional capital to support startup activities for a Phase 2b trial of ATI-052 in atopic dermatitis and a proof-of-concept trial in eosinophilic esophagitis.
Aclaris had $170.6 million in cash, cash equivalents and marketable securities at June 30, up from $151.4 million at the end of 2025. The company’s projection that its resources can fund operations through 2028 does not assume additional financing or potential business-development transactions.
The capital position comes as Aclaris increases investment in clinical development. Research and development expenses rose 59% to $18.1 million in the second quarter from $11.4 million a year earlier, driven primarily by manufacturing and clinical costs associated with ATI-052 and manufacturing expenses for ATI-9494.
The higher spending contributed to a quarterly net loss of $21.5 million, compared with $15.4 million a year earlier. For the first six months of 2026, Aclaris lost $41.3 million, widening from $30.5 million in the comparable 2025 period.
Second-quarter revenue declined to $1.6 million from $1.8 million. Six-month revenue increased to $3.6 million from $3.2 million, primarily because of higher royalties under licensing agreements with Lilly and Sun Pharma.
Aclaris is approaching several clinical milestones that could determine the trajectory of its development portfolio. The company expects three clinical data readouts during the second half of 2026, including results from two Phase 1b proof-of-concept trials of ATI-052 in asthma and atopic dermatitis.
ATI-052 is an investigational bispecific antibody targeting TSLP and IL-4Rα. Aclaris reported that its completed Phase 1a single- and multiple-ascending-dose trial found the drug was well tolerated and produced pharmacokinetic and pharmacodynamic results supporting the potential for dosing intervals of up to three months.
The company plans to begin a Phase 2b program for ATI-052 in the fourth quarter, starting with an asthma trial. It also expects to begin preparations for the Phase 2b atopic dermatitis study and the eosinophilic esophagitis proof-of-concept trial.
“We expect to provide three clinical data readouts, including placebo-controlled top line results from our two Phase 1b POC trials of our anti-TSLP/IL-4Rα bispecific antibody ATI-052 in both asthma and atopic dermatitis and the Phase 2 AD trial of our anti-TSLP monoclonal antibody bosakitug,” Chief Executive Officer Neal Walker stated.
Aclaris also expects fourth-quarter results from a Phase 2 trial of bosakitug, also known as ATI-045. Enrollment has been completed in the randomized, double-blind, placebo-controlled study involving 109 patients with atopic dermatitis.
Separately, the company plans to begin a Phase 2b trial of modzatinib, or ATI-2138, in lichen planus during the fourth quarter. Modzatinib inhibits ITK and JAK3, and Aclaris noted there are currently no approved therapies for the chronic inflammatory condition.
Aclaris is also targeting the fourth quarter for an investigational new drug application for ATI-9494, its experimental dual inhibitor of ITK and TXK.
Preclinical data presented at a 2026 Federation of American Societies for Experimental Biology conference showed ATI-9494 blocked activation of the T-cell receptor pathway and demonstrated potency of up to 25 times that of soquelitinib across multiple biochemical and cellular assays, according to the company.
General and administrative expenses increased to $6 million in the second quarter from $5.4 million a year earlier, reflecting higher professional, legal and personnel expenses. Aclaris recorded a $300,000 contingent-consideration revaluation charge, down from $1.5 million in the year-earlier quarter.
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