Investment Thesis
Aclaris is a clinical-stage pharmaceutical company with severe fundamental deterioration, evidenced by a 58.2% revenue collapse, massive operating losses of -$76.4M, and negative free cash flow of -$47.2M. Despite maintaining adequate liquidity and manageable debt levels, the company is burning cash at an unsustainable rate with no clear path to profitability, making it a high-risk investment for fundamentals-focused investors.
ACRS Strengths
- Strong liquidity position with current ratio of 3.36x and $20.0M cash reserves
- Conservative leverage with debt-to-equity of only 0.10x, reducing financial distress risk
- Positive gross margin of 41.4% indicates product viability when revenue is generated
ACRS Risks
- Catastrophic 58.2% year-over-year revenue decline suggests loss of major contracts or failed clinical programs
- Operating losses of $76.4M with negative FCF of $47.2M indicates unsustainable cash burn at current trajectory
- Severely negative profitability ratios (operating margin -975.9%, net margin -829.6%) demonstrate fundamental unprofitability with no near-term improvement visible
- R&D-heavy business model typical of biotech requires continued capital infusion with uncertain outcomes
Key Metrics to Watch
- Quarterly revenue trends and pipeline advancement to confirm stabilization vs. further decline
- Monthly cash burn rate and cash runway to assess solvency timeline
- Clinical trial progress and regulatory milestones for lead candidates to evaluate future revenue potential
ACRS Financial Metrics
ACRS Profitability Ratios
ACRS Balance Sheet & Liquidity
ACRS 5-Year Financial Trend
5-Year Trend Summary: Aclaris Therapeutics, Inc.'s revenue has grown significantly by 177% over the 5-year period, indicating strong business expansion. The most recent EPS of $-1.71 indicates the company is currently unprofitable.
ACRS Growth Metrics (YoY)
ACRS Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $3.3M | -$7.6M | $-0.11 |
| Q2 2025 | $1.8M | -$11.0M | $-0.13 |
| Q1 2025 | $1.5M | -$15.1M | $-0.12 |
| Q3 2024 | $4.3M | -$7.6M | $-0.11 |
| Q2 2024 | $1.9M | -$11.0M | $-0.15 |
| Q1 2024 | $2.4M | -$16.9M | $-0.24 |
| Q3 2023 | $9.3M | -$18.8M | $-0.30 |
| Q2 2023 | $1.5M | -$18.8M | $-0.31 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ACRS Capital Allocation
ACRS SEC Filings
Access official SEC EDGAR filings for Aclaris Therapeutics, Inc. (CIK: 0001557746)