Executive Summary
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.
Key Performance Indicators
QoQ: 111.94% | YoY:-47.58%
QoQ: -104.64% | YoY:-100.81%
QoQ: -851.91% | YoY:-2 362.94%
QoQ: -1 172.77% | YoY:-6 375.65%
QoQ: -818.18% | YoY:-4 709.52%
Key Insights
Revenue: USD 9.21m in QQ4 2024; QoQ up ~111.9% from USD 4.35m in Q3 2024; YoY change -47.6% vs USD 17.57m in Q4 2023.
Gross Profit: USD -0.09m; Gross Margin: -0.98%.
Operating Expenses: USD 99.59m; R&D USD 9.03m; G&A USD 4.95m; Other Expenses USD 85.61m (one-time charge).
EBITDA: USD -13.93m; EBIT (Operating Income): USD -99.68m; EBITDAR: -1.51x.
Net Income: USD -96.55m; Net Margin: -10.48%; EPS (Diluted): -$1.01.
Cash Flow: Operating cash flow USD -8.94m; Free cash flow USD -44.75m; Ne...
Financial Highlights
Revenue: USD 9.21m in QQ4 2024; QoQ up ~111.9% from USD 4.35m in Q3 2024; YoY change -47.6% vs USD 17.57m in Q4 2023.
Gross Profit: USD -0.09m; Gross Margin: -0.98%.
Operating Expenses: USD 99.59m; R&D USD 9.03m; G&A USD 4.95m; Other Expenses USD 85.61m (one-time charge).
EBITDA: USD -13.93m; EBIT (Operating Income): USD -99.68m; EBITDAR: -1.51x.
Net Income: USD -96.55m; Net Margin: -10.48%; EPS (Diluted): -$1.01.
Cash Flow: Operating cash flow USD -8.94m; Free cash flow USD -44.75m; Net cash from financing USD +74.58m; Net change in cash USD -23.08m.
Balance Sheet: Cash & equivalents USD 24.57m; Short-term investments USD 89.02m; Total cash & investments USD 113.59m; Total assets USD 220.33m; Total liabilities USD 64.77m; Stockholders’ equity USD 155.55m; No debt; Retained earnings USD -902.86m.
Liquidity & Ratios: Current ratio 3.99; Quick ratio 3.99; Cash ratio 0.78; Asset turnover ~0.042; Receivables turnover ~29x; DSO ~3.11 days; DPO ~45.38 days; CCC ~ -42.3 days. P/S 24.83x; P/B 1.47x; EV/Sales negative; P/CF negative; FCF per share -0.0938; Cash per share 1.192.
Four-Quarters Trend: Q4 2024 revenue grew sequentially versus Q3 2024, but remained below prior-year levels; quarterly profitability remained negative as in prior periods.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
9.21M |
-47.58% |
111.94% |
| Gross Profit |
-90.00K |
-100.81% |
-104.64% |
| Operating Income |
-99.68M |
-2 362.94% |
-851.91% |
| Net Income |
-96.55M |
-6 375.65% |
-1 172.77% |
| EPS |
-1.01 |
-4 709.52% |
-818.18% |
Key Financial Ratios
operatingProfitMargin
-152.8%
operatingCashFlowPerShare
$-0.09
freeCashFlowPerShare
$-0.09
Management Commentary
No earnings transcript data were provided in the material. Consequently, there are no management quotes or thematic insights available from an earnings call to accompany this QQ4 2024 analysis. Note: If transcript access is provided, relevant quotes can be incorporated under themes (strategy, operations, market conditions) with attribution.
Forward Guidance
No formal forward guidance is disclosed in the provided data. Given the company’s impact from a sizable one-time line item in Q4 2024, investors should monitor: (1) upcoming clinical readouts for ATI1777 (soft JAK1/3) and ATI2138 (ITK/XKJAK3) and Zunsemetinib (MK2 inhibitor) data, (2) potential licensing, collaboration, or in-licensing activities that could derisk capital needs, (3) quarterly expense discipline and any restructuring actions aimed at extending the cash runway, and (4) regulatory milestones that could unlock value in the near to mid-term. Management commentary, if provided, should be weighed to assess the trajectory of R&D intensity versus potential partnerships and monetization of the pipeline.