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Jun 30, 2024
Aclaris Therapeutics Q2 2024 Earnings Report
Aclaris Therapeutics reported its financial results for the second quarter of 2024 and provided a corporate update.
Key Takeaways
Aclaris Therapeutics reported a net loss of $11.0 million and total revenue of $2.8 million for the second quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $149.9 million as of June 30, 2024.
Initiated Phase 2a Study Activities for ATI-2138 in Atopic Dermatitis.
Strengthened Balance Sheet Through Sale of Future OLUMIANT® Royalties for Proceeds of up to $31.5 Million.
Net loss was $11.0 million for the second quarter of 2024 compared to $29.6 million for the second quarter of 2023.
Total revenue was $2.8 million for the second quarter of 2024 compared to $1.9 million for the second quarter of 2023.
Aclaris Therapeutics
Aclaris Therapeutics
Aclaris Therapeutics Revenue by Segment
Revenue by Segment
Contract research Revenue
CapyFin.comLicensing Revenue
CapyFin.com Forward Guidance
Aclaris anticipates that its cash, cash equivalents and marketable securities as of June 30, 2024 in combination with the $26.5 million from the sale of OLUMIANT® royalties and milestones will be sufficient to fund its operations into 2028, without giving effect to any potential new business development transactions, additional financing activities or the outcome of its strategic review.
Positive Outlook
- Cash, cash equivalents and marketable securities will be sufficient to fund its operations into 2028.
- Sale of OLUMIANT® royalties and milestones contributed $26.5 million.
- Eligible to receive up to an additional $5.0 million upon the achievement of certain sales milestones.
- Focus remains on leveraging resources to maximize the potential of innovative drug candidates.
- Pursuing available opportunities and creating long-term value for patients and shareholders alike.
Challenges Ahead
- Guidance does not give effect to any potential new business development transactions.
- Guidance does not give effect to additional financing activities.
- Guidance does not give effect to the outcome of its strategic review.
- Uncertainties inherent in the conduct of clinical trials.
- Aclaris’ reliance on third parties over which it may not always have full control.
Revenue & Expenses
Visualization of income flow from segment revenue to net income