Aclaris Therapeutics reported a modest top-line with a material quarterly loss in QQ4 2024. Revenue for the quarter was USD 9.21 million, up 111.9% quarter-over-quarter from Q3 2024 (USD 4.35 million) but down 47.6% year-over-year versus Q4 2023 (USD 17.57 million). The quarter’s gross profit was essentially breakeven at USD -0.09 million, yielding a gross margin near -0.98%. The aggressive bottom-line deterioration is dominated by a large, line-item “other expenses” charge of USD 85.61 million, which UNCOVERS a core operating loss of roughly USD 14 million when excluded. Consequently, operating income stood at USD -99.68 million and net income at USD -96.55 million, or -$1.01 per share on a diluted basis.
The company’s cash flow profile shows a modest operating cash burn of USD 8.94 million for the quarter, and a free cash flow of USD -44.75 million. Financing activity contributed USD 74.58 million largely via common stock issuances, leaving the company with USD 24.57 million of cash and cash equivalents at period end and USD 113.59 million in total cash and short-term investments. The balance sheet reflects a liquid position with no debt, total assets of USD 220.33 million, and stockholders’ equity of USD 155.55 million; however, cumulative losses have driven negative retained earnings of USD -902.86 million. The company’s net debt position is modestly net cash (USD -24.57 million).
Looking ahead, management guidance was not provided in the data, which emphasizes that a significant portion of value remains contingent on pipeline progress and potential licensing or alliance opportunities. The near-term investment thesis hinges on clinical readouts, regulatory milestones, and the company’s ability to manage operating costs while advancing its MK2, JAK/ITK programs, and other immune-inflammatory initiatives. Given the current cash runway and lack of near-term debt obligations, the stock carries a high-risk, high-plex binary outcome typical of clinical-stage biotechnology.