Aclaris Therapeutics Reports $1.5 Million Revenue in Q1 2025, 39% Decline Year-Over-Year

Aclaris Therapeutics, Inc. reported a total revenue of $1.5 million for the first quarter of 2025, a decline of 39% compared to $2.4 million in the same period of 2024. The decrease was primarily attributed to a drop in licensing revenue, which fell from $1.7 million to $1.0 million, largely due to reduced royalties following the sale of a portion of its OLUMIANT® royalty payments to OMERS in July 2024. Contract research revenue also decreased from $657,000 to $445,000, reflecting lower overall hours billed despite a higher average billing rate. The company recorded a net loss of $15.1 million for the quarter, an improvement from the $16.9 million loss reported in the prior year.

In terms of operational changes, Aclaris has made significant adjustments to its workforce, completing a 46% reduction by the end of 2024. This restructuring has contributed to a decrease in general and administrative expenses, which fell from $6.8 million in Q1 2024 to $6.1 million in Q1 2025. Research and development expenses increased to $11.6 million from $9.8 million, driven by costs associated with the development of its product candidates, particularly bosakitug and ATI-2138. The company also reported a decrease in the revaluation of contingent consideration, which dropped from $2.8 million to $300,000.

Aclaris' cash and cash equivalents increased to $30.4 million as of March 31, 2025, up from $24.6 million at the end of 2024. The company also held $160.2 million in marketable securities, down from $179.3 million. The net cash used in operating activities decreased to $13.1 million from $20.8 million year-over-year, primarily due to lower cash used for accounts payable and accrued expenses. The company generated $19.1 million in net cash from investing activities, significantly higher than the $16.8 million in the previous year, mainly due to increased proceeds from sales and maturities of marketable securities.

Looking ahead, Aclaris plans to continue advancing its product candidates, including initiating a Phase 2 trial for bosakitug in atopic dermatitis in the second quarter of 2025. The company is also focused on exploring strategic partnerships to further develop its assets. However, Aclaris acknowledges the need for additional capital to support its ongoing operations and product development efforts, particularly in light of the significant expenses associated with clinical trials and regulatory processes. The company remains cautious about potential macroeconomic challenges that could impact its ability to raise funds or achieve commercial success.