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Aclaris Therapeutics

ACRS Rare disease Lead: Phase 2 6 Biotech Distilled articles ↓ 26 filings & releases ↓ Cash $20.4M (Sep 30, 2026) ↓ 6 verdicts ↓ 6 timing quotes ↓
DermatologyGI/HepatologyRespiratory ProteinSmall Molecule

Market cap $619M 158.6M shares (10-Q, Oct 30, 2026) × $3.90 close Nov 6, 2026

Most recent annual filing: 2026-02-15

Catalyst timeline

5 trackedQuarter catalyst calendar →
  1. ATI-9494 ITK IND filing2H 2026ATI-9494 ITK IND filing, 2H 2026, notable
  2. bosakitug Ph2 topline4Q 2026bosakitug Ph2 topline, 4Q 2026, major
  3. bosakitug topline4Q 2026bosakitug topline, 4Q 2026, major
  4. ATI-9494 IND filing4Q 2026ATI-9494 IND filing, 4Q 2026, notable
  5. ATI-2138 Ph2b start4Q 2026ATI-2138 Ph2b start, 4Q 2026, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (8 active programs)

Technology platforms

KINect

Proprietary small molecule drug discovery platform leveraging a unique chemical library of kinase inhibitors, structure-based drug design, and custom kinase assays to address difficult-to-drug kinases; mechanisms include reversible/irreversible covalent inhibitors, molecular glue/complex targeted inhibitors, tissue-specific inhibitors, and targeted protein degraders; focused on inflammatory and autoimmune pathways.

Capital (as filed)

Cash
$20.4M cash and cash equivalents · Sep 30, 2026 (10-Q)
Short-term investments
$93.9M Sep 30, 2026
Long-term investments
$90.3M Sep 30, 2026
Operating cash flow
−$24.1M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$205M cash per the update of Oct 27, 2026 — the company's own words as read there, not the filed figure

Offering documents (2)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (6)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (6 calls)

Every verdict Biotech Distilled has published on Aclaris Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-03-24 Watch Aclaris Therapeutics (ACRS) - Scientific Deep Dive for Bosakitug, ATI-052, and Other Pipeline Products ACRS offers a de-risked option on late-2026 clinical readouts with a fortress balance sheet eliminating near-term dilution risk, but the binary clinical outcomes warrant only a watch-list stance with accumulation on weakness.
  2. 2026-03-28 Watch UPDATE: Aclaris Therapeutics (ACRS) - Unpacking The Phase 2a Data for ATI-2138 ATI-2138 Phase 2a data supports the internal small-molecule platform but does not change the core thesis; ACRS remains a watch-list name ahead of the H2 2026 biologic readouts.
  3. 2026-04-29 Buy core UPDATE: Aclaris Therapeutics (ACRS) - The Bispecific Delivered ATI-052 Phase 1a data materially de-risked the thesis — 45-day half-life, complete sustained PD inhibition, 4.3x potency over dupilumab+tezepelumab combo, clean safety, and no ADAs — upgrading from watch list to BUY ahead of 2H 2026 patient readouts.
  4. 2026-05-08 Buy core UPDATE: Aclaris Therapeutics (ACRS) - The Quiet ATM The ATI-052 science is unchanged and the catalyst path into 2H 2026 is intact, but the March ATM raise delivered ~16% dilution that the original 'no dilution gap' framing missed; BUY maintained with updated share-count assumptions.
  5. 2026-08-07 Buy core UPDATE: Aclaris Therapeutics (ACRS) - The ATM Gets a Bigger Tank All 2H 2026 clinical timelines reaffirmed, Fast Track granted for modzatinib in lichen planus, and the ATI-052 science package is unchanged; BUY maintained but dilution is now structural with a fresh $150M ATM facility live.
  6. 2026-10-28 Hold UPDATE: Aclaris Therapeutics (ACRS) - The Crown Jewel Meets Patients (and the Underwriters) ATI-052 passed its first patient test with clean safety and real activity in AD and asthma, but the AD efficacy claims rest on a single placebo patient, the commercial path narrowed to EoE-first, and ~39% share-equivalent dilution in 2026 warrants downgrading to hold pending the 109-patient bosakitug RCT readout.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (6 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (26)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 7, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

8 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)