Aclaris Therapeutics 2025 Q3 Earnings Wider Net Loss of $14.6M Amid Positive Clinical Progress

Aclaris Therapeutics (ACRS) reported fiscal 2025 Q3 earnings on November 6, 2025. The results beat revenue estimates but revealed a 92.6% increase in net losses year-over-year. Despite the financial decline, the company highlighted positive Phase 2a trial outcomes for its lead candidate, ATI-2138, and a robust clinical pipeline.

Revenue

Aclaris Therapeutics’ total revenue fell 24.1% to $3.30 million in 2025 Q3, compared to $4.35 million in 2024 Q3. The decline followed reduced milestones under prior licensing agreements, though the figure exceeded Wall Street’s $1.41 million estimate.

Earnings/Net Income

The company’s net loss widened to $14.61 million ($0.12 per share) in 2025 Q3, a 92.6% increase from the $7.59 million ($0.11 per share) loss in 2024 Q3. The results narrowly outperformed the $15.80 million ($0.13 per share) loss forecast. Despite a wider net loss, Aclaris’ EPS performance slightly outperformed expectations, signaling mixed financial results.

Price Action

Aclaris’ stock price declined 0.87% in the latest trading day and 8.84% weekly but surged 23.37% month-to-date. The shares closed at $2.26, underperforming the S&P 500’s 15.6% annual gain.

Post-Earnings Price Action Review

The strategy of buying Aclaris shares on the date of its revenue raise announcement and holding for 30 days yielded positive returns. The cumulative percentage change over the past three years was 23.78%, outperforming the SPY ETF’s 16.13% return over the same period. This indicates that the strategy captured significant gains, likely due to Aclaris’ strong revenue performance and positive market reactions to its earnings reports.

CEO Commentary

Dr. Neal Walker highlighted progress in Aclaris’ immuno-inflammatory disease pipeline, emphasizing the Phase 2a success of ATI-2138 in atopic dermatitis. He reiterated confidence in the company’s oral kinase inhibitors and biologics franchises, with four clinical-stage candidates expected by 2026. The CEO also noted a strong cash runway through mid-2028 and a “rich calendar of clinical milestones” in 2026 and 2027.

Guidance

Aclaris plans to initiate a Phase 2 trial of ATI-2138 in H1 2026 for additional indications (e.g., lichen planus) and Phase 1b trials for ATI-052 in asthma and atopic dermatitis. Top-line results from the bosakitug Phase 2 trial are expected in H2 2026. The company reaffirmed its cash runway into H2 2028 and exploration of non-dilutive financing.

Additional News

Aclaris sold a portion of its Eli Lilly royalties to OMERS in July 2024, impacting 2025 revenue. The company also reiterated its R&D focus, with seven “buy” or “strong buy” analyst ratings and a median 12-month price target of $7.00 (67.7% above its closing price). Management emphasized disciplined spending to sustain operations amid higher R&D costs.

Additional News

Aclaris’ CEO reiterated confidence in its ITK/JAK3 inhibitor franchise, citing the Phase 2a trial’s 77% EASI improvement in atopic dermatitis. The company also plans an IND filing for a next-generation ITK inhibitor by H2 2026. Analysts noted a Zacks Rank #3 (Hold) for the stock, reflecting mixed earnings estimate revisions.

Additional News

Aclaris’ shares gained 18.9% in Q3 despite a 8.9% annual decline. The company’s cash reserves of $167.2 million as of September 30, 2025, support its 2026-2028 milestones. Investors remain focused on near-term data events, including ATI-052’s Phase 1a results and bosakitug’s Phase 2 outcomes.