Oct 27, 2026, 6:43 AM ET Aclaris Therapeutics announced the pricing of an underwritten offering of 7,785,714 common shares at $3.50 per share and pre-funded warrants for 6,500,000 shares, with expected gross proceeds of approximately $50.0 mi… AI-generated summary · Source: company release

$ACRSBiotech · Immuno-inflammatory diseasesClinical stage, no approved product of its own$50M offering on October 27, 2026~10% of shares short

ACRS Stock Hub: Aclaris Therapeutics News, ATI-052 and Bosakitug Data

Aclaris Therapeutics reported Phase 1b proof-of-concept data for its bispecific antibody ATI-052 on October 27, 2026 and, the same day, priced a $50.0 million offering of shares and pre-funded warrants at $3.50. The company estimates $204.6 million of cash and marketable securities at September 30, before the offering, and now puts a Phase 2b trial in eosinophilic esophagitis first, from early 2027. The next test is the Phase 2 topline readout of bosakitug in atopic dermatitis, guided for the fourth quarter of 2026.

Last updated: November 2, 2026Market data: October 30, 2026 closeFinancials: quarter ended June 30, 2026; preliminary cash at September 30, 2026Currency: U.S. dollars

Full research report · PDF

Aclaris Therapeutics ($ACRS) research report, as of November 2, 2026

19 pages: scenarios, the ATI-052 Phase 1b data, the bosakitug Phase 2 readout, the modzatinib and ATI-9494 programs, quarterly results, cash and runway, the October offering and at-the-market dilution, licenses and royalties, ownership, closing prices and short interest, sources and FAQ. Available in the Merlintrader Research Library. The report is a dated snapshot and is not updated after that date; this page follows the current situation. For personal use only: redistribution prohibited.

Get the report (PDF)

Next catalyst

Fourth quarter of 2026 · bosakitug Phase 2 topline in atopic dermatitis

Topline results from the randomized, double-blind, placebo-controlled Phase 2 trial of the anti-TSLP antibody bosakitug (ATI-045) in moderate-to-severe atopic dermatitis. Enrollment is complete with 109 patients, according to the company (the trial registry lists 110 enrolled); the primary endpoint is the percent change in EASI from baseline at week 24. The company guides the readout to the fourth quarter of 2026 and has not given an exact date. Company release of August 6, 2026 · NCT07011706

Also guided for the fourth quarter: the start of a Phase 2b trial of modzatinib (ATI-2138) in lichen planus and the IND filing for ATI-9494. The third-quarter report has no announced date yet (August 6, 2026 release).

Aclaris Therapeutics ACRS daily stock chart — Daily chart $ACRS, for information only. Interactive chart with bull and bear scenarios on JC Just Charts

ACRS stock at a glance

Close · Oct 30, 2026

$3.97

Down from $5.26 on September 30, about 25%, a calculation on closing prices.

Market value

~$629M

About 158.4 million shares at $3.97, a calculation: 139,824,273 at June 30, 10,827,017 sold through the at-the-market program after June 30 and 7,785,714 in the offering.

Cash · Sep 30 (preliminary)

$204.6M

Unaudited estimate, before about $46.7M of net offering proceeds. $170.6M at June 30.

Revenue · June quarter

$1.6M

$1.27M of licensing revenue under patent licenses with Lilly and Sun Pharma, $0.36M of contract research; $3.6M in the first half.

Net loss · June quarter

-$21.5M

Up from -$15.4M a year earlier; R&D rose to $18.1M from $11.4M.

Operating cash use · H1

$38.0M

Six months to June 30, 2026, against $23.1M a year earlier.

New shares since June 30

~18.6M

10.8M sold through the at-the-market program after June 30 and 7.8M in the offering, plus 6.5M pre-funded warrants.

Short interest · Oct 15

~10.0%

15,027,284 shares, 2.9 days to cover; about 150.7 million shares outstanding before the offering.

Where Aclaris Therapeutics stands now

Aclaris is a clinical-stage company in Wayne, Pennsylvania, developing antibodies and oral kinase inhibitors for immuno-inflammatory diseases. Its revenue comes from licensing and contract research, not from products of its own. On October 27, 2026 it reported that ATI-052, a bispecific antibody against TSLP and IL-4Rα, met the primary safety objective in two small Phase 1b trials in atopic dermatitis and asthma, and it changed the order of development: a Phase 2b trial in eosinophilic esophagitis (EoE) first, from early 2027, instead of the asthma Phase 2b it had planned to start in the fourth quarter of 2026. Form 8-K, October 27, 2026

The main risk: small trials and a moving development plan. The atopic dermatitis trial randomized 14 patients, and the per-protocol analysis kept nine on ATI-052 and one on placebo, so the “placebo-adjusted” figures rest on a single placebo patient. Several of the most striking results are post hoc subgroups. The company raised equity twice in about four months and now funds EoE first; plans for “an additional indication” are promised only “in the near term”.

The constructive case

Money is not the immediate constraint: $204.6 million estimated at September 30 plus about $46.7 million of net offering proceeds, against a first-half operating cash use of $38.0 million, a calculation. In August, before the offering, the company said its funds would last through the end of 2028. ATI-052 was well tolerated with no Grade 3 or 4 adverse events and no conjunctivitis, and three more clinical or regulatory steps are guided for the fourth quarter of 2026: bosakitug data, the modzatinib Phase 2b start and the ATI-9494 IND. Modzatinib has held FDA Fast Track designation in lichen planus since August 6, 2026 (company release).

The cautious case

The Phase 1b data are early and thin, and the next readout, bosakitug, tests TSLP alone in atopic dermatitis, a market with established biologics. The share count rose by about 18.6 million after June 30, with 6.5 million pre-funded warrants on top, and the stock closed at $3.97 on October 30 against options with a weighted average exercise price of $5.93. The plan changed within one quarter, and development beyond EoE depends on capital the company has not yet allocated.

Latest Aclaris Therapeutics news

Oct 27, 2026

ATI-052 Phase 1b results in atopic dermatitis and asthma

Aclaris reported that ATI-052 was well tolerated in two small Phase 1b trials, with no Grade 3 or 4 adverse events and no conjunctivitis, and said it will start a Phase 2b trial in eosinophilic esophagitis in early 2027.

Company release · Form 8-K

Oct 27, 2026

Aclaris prices a $50.0 million offering at $3.50 per share

The underwritten offering covers 7,785,714 shares at $3.50 and pre-funded warrants for 6,500,000 shares, with estimated net proceeds of about $46.7 million and closing expected on October 28, 2026.

Company release · Form 8-K

Oct 27, 2026

Preliminary cash estimate of $204.6 million at September 30

Aclaris estimated cash, cash equivalents and marketable securities of approximately $204.6 million at September 30, 2026, a preliminary and unaudited figure, before the October offering.

Form 8-K

Aug 6, 2026

FDA grants Fast Track designation to modzatinib in lichen planus

The FDA granted Fast Track designation to modzatinib (ATI-2138) for moderate to severe lichen planus. Aclaris expects to start a multi-part Phase 2b trial in the fourth quarter of 2026.

Company release

Aug 6, 2026

Second-quarter 2026 results and clinical update

Aclaris reported a net loss of $21.5 million and revenue of $1.6 million for the quarter ended June 30, 2026, and guided bosakitug Phase 2 topline data in atopic dermatitis to the fourth quarter of 2026.

Company release · Form 10-Q

Aug 6, 2026

Aclaris files an automatic shelf registration

Aclaris filed a shelf registration statement on Form S-3 that became effective automatically on filing; the October offering was made under it.

Form S-3ASR

ACRS stock catalysts: the dated calendar

October 28, 2026 – Scheduled closing date of the $50.0 million offering of shares and pre-funded warrants; as of November 2, 2026 the company had not issued a separate closing announcement. Past
Fourth quarter of 2026 – Bosakitug (ATI-045) Phase 2 topline in moderate-to-severe atopic dermatitis, 109 patients, primary endpoint at week 24. Company guidance
Fourth quarter of 2026 – Start of a multi-part Phase 2b trial of modzatinib (ATI-2138) in lichen planus. Company guidance
Fourth quarter of 2026 – IND filing for ATI-9494, an oral ITK/TXK inhibitor. Company guidance
Fourth quarter of 2026 – Third-quarter results and Form 10-Q, with final cash at September 30. Date not announced
“Near term” – Update on a possible additional indication for ATI-052 beyond EoE. Company guidance, no date
Early 2027 – Start of a Phase 2b trial of ATI-052 in eosinophilic esophagitis. Company guidance
End of 2028 – Cash runway stated in August 2026, before the October offering. Company guidance

Aclaris pipeline: ATI-052, bosakitug, modzatinib and ATI-9494

PHASE 1b DONE · PHASE 2b EARLY 2027

ATI-052 · anti-TSLP/IL-4Rα bispecific

Uses the TSLP-binding region of bosakitug and is engineered for a longer half-life; Phase 1a data supported the potential for dosing up to every three months. Phase 1b in atopic dermatitis and asthma reported on October 27, 2026. Next: Phase 2b in EoE.

PHASE 2 · TOPLINE Q4 2026

Bosakitug (ATI-045) · anti-TSLP antibody

Licensed from Biosion for the world outside Greater China. Phase 2 placebo-controlled trial in 109 patients with atopic dermatitis, fully enrolled. Biosion’s licensee CTTQ studies it in respiratory diseases in China.

PHASE 2b START Q4 2026

Modzatinib (ATI-2138) · oral ITK/JAK3

An open-label Phase 2a in 14 atopic dermatitis patients reported in July 2025. Next: a multi-part Phase 2b in lichen planus, a disease with no approved therapy, according to the company. On August 6, 2026 the FDA granted Fast Track designation to modzatinib for moderate to severe lichen planus. Company release, August 6, 2026

ATI-052 Phase 1b, October 27, 2026	Atopic dermatitis (severe)	Asthma (mild to moderate)
Design	14 patients randomized 3:1, five weekly 480 mg doses; per-protocol 9 on drug, 1 on placebo	16 patients randomized 3:1, one 480 mg dose; 12 on drug, 4 on placebo
Main efficacy reading	EASI improvement of 58% on drug vs 13% on placebo at day 57 (45% placebo-adjusted)	FeNO down 59% at day 15 vs 15% on placebo; FEV1 +200 mL placebo-adjusted at day 15
Itch / lung function	PP-NRS improved 43% placebo-adjusted at day 57	Post hoc, low-FEV1 subgroup: +350 mL vs -140 mL on placebo
Safety	Mostly Grade 1 adverse events, no Grade 3 or 4, no discontinuations for adverse events, no conjunctivitis

How to read these numbers. These are Phase 1b trials designed for safety, with very small placebo groups. A one-patient placebo arm cannot anchor a “placebo-adjusted” comparison, and the post hoc subgroups were not prespecified. The company itself moved the next trial to EoE, citing development strategy and “disciplined capital management”. Company release, October 27, 2026

Merlintrader Health Score · $ACRS

3.15out of 5

Balance sheet and runway · 30%4.0

About $251M after the offering, a calculation on the preliminary September figure; runway guided through the end of 2028 before the raise. No approved product of its own.

Catalyst · 30%3.0

A placebo-controlled Phase 2 readout is guided within the quarter; ATI-052’s next efficacy data are at least a Phase 2b away.

Dilution · 20%2.0

About 18.6 million new shares and 6.5 million pre-funded warrants since June 30, an at-the-market program that can resume from November 26, 2026 under the offering lock-up, and a shelf registration.

Liquidity · 10%3.5

Volume of about 1.5 to 8.0 million shares a day, consolidated, in the week of October 26-30, 2026; short interest about 10% at October 15.

Execution · 10%3.0

Phase 1b data arrived in the guided half-year, but the Phase 2b plan changed from asthma to EoE within one quarter.

Assessed on November 2, 2026, on filings to the quarter ended June 30, 2026 and the preliminary September 30 cash figure. The score describes financial and operational robustness over twelve to eighteen months. It is not a rating, a target price or an indication to buy or sell.

Red flags

The ATI-052 atopic dermatitis per-protocol analysis had one placebo patient.
Several headline ATI-052 results are post hoc subgroup analyses.
Equity raised twice in about four months: 10.8 million at-the-market shares after June 30 and a $50.0 million offering at $3.50 on October 27.
The planned asthma Phase 2b in the fourth quarter of 2026 gave way to an EoE Phase 2b from early 2027.
Net loss of $21.5 million in the June quarter against $1.6 million of revenue; accumulated deficit of $1,009.1 million at June 30, 2026.
Royalty revenue depends on drugs sold by other companies, and part of the Lilly royalty stream was sold to OMERS in July 2024.
Bosakitug is in-licensed: Biosion is owed up to $125 million in regulatory and $795 million in sales milestones plus royalties.
The September 30 cash figure is preliminary and unaudited until the third-quarter filing.

ACRS Stock FAQ: Aclaris Therapeutics Questions Answered

When will Aclaris report bosakitug Phase 2 results?

As of November 2, 2026, Aclaris guides topline results of the Phase 2 bosakitug trial in atopic dermatitis to the fourth quarter of 2026, with no exact date announced. Enrollment is complete, with 109 patients according to the company, and the primary endpoint is the change in EASI at week 24. Company release, August 6, 2026

Does Aclaris Therapeutics have an FDA-approved drug?

No: as of November 2, 2026, Aclaris has no FDA-approved product of its own. ATI-052, bosakitug, modzatinib and ATI-9494 are all investigational, and none has been submitted for approval. On August 6, 2026 the FDA granted Fast Track designation to modzatinib for moderate to severe lichen planus; the designation allows more frequent interaction with the agency and rolling review, but it is not an approval. Revenue comes from royalties on drugs other companies sell under patent licenses with Lilly and Sun Pharma, and from contract research. Company release, August 6, 2026 · Form 10-Q for the June 2026 quarter

How much cash does Aclaris Therapeutics have, and how long will it last?

Aclaris estimated about $204.6 million of cash, cash equivalents and marketable securities at September 30, 2026, unaudited, and expected about $46.7 million of net proceeds from the October offering. In August, before that offering, it said its funds would last through the end of 2028. Form 8-K, October 27, 2026

Is ACRS stock at risk of dilution?

Yes: on October 27, 2026 Aclaris priced 7,785,714 shares at $3.50 and pre-funded warrants for 6,500,000 shares, after selling 10,827,017 shares through its at-the-market program following June 30. At June 30 it also had 15.4 million options at a weighted average exercise price of $5.93 and 3.0 million unexercised warrants issued to Biosion and CTTQ. Prospectus supplement, October 27, 2026

When does Aclaris report third-quarter 2026 earnings?

As of November 2, 2026, the company has not announced a date for its third-quarter 2026 results. The second-quarter results came on August 6, 2026, with a net loss of $21.5 million and revenue of $1.6 million. Second-quarter release, August 6, 2026

What does Aclaris Therapeutics do?

Aclaris Therapeutics is a clinical-stage biopharmaceutical company in Wayne, Pennsylvania, developing treatments for immuno-inflammatory diseases. Its pipeline pairs antibodies, the bispecific ATI-052 and the anti-TSLP bosakitug, with oral ITK inhibitors from its KINect discovery platform, modzatinib and ATI-9494. It has no approved product of its own and earns royalties from licenses.

What were Aclaris ATI-052 Phase 1b results?

On October 27, 2026, Aclaris reported that ATI-052 met the primary safety objective in Phase 1b trials in atopic dermatitis and asthma, with no Grade 3 or 4 adverse events and no conjunctivitis. EASI improved 58% on drug and 13% on placebo at day 57, but the per-protocol placebo group had one patient. Company release, October 27, 2026

Primary sources

Disclaimer. This content is published by Merlintrader for educational and informational purposes only. It is independent journalism and research. It does not constitute investment advice, an investment recommendation, an offer or a solicitation to buy or sell any security, and it is not a research report within the meaning of applicable United States securities regulation. Nothing here should be read as a recommendation to buy, sell or hold $ACRS or any other security.

Figures are taken from public filings with the U.S. Securities and Exchange Commission, company press releases, clinical-trial registries and market-data providers, and are stated with their reference dates. Data can change without notice. Readers should verify every figure against the primary source before acting on it.

Clinical-stage biotechnology companies carry high scientific and financing risk. Small early trials often fail to repeat in larger ones, regulators can ask for more data, competitors can reach the market first, and companies that spend ahead of revenue frequently raise equity at whatever price the market will bear. This company has no approved product of its own, reported a net loss of $21.5 million in the June 2026 quarter and sold new shares twice in about four months. Every reader is responsible for their own decisions and should consult a licensed financial adviser where appropriate.

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ACRS Stock Hub: Aclaris Therapeutics News, ATI-052 and Bosakitug Data

ACRS stock at a glance