Aclaris Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Aclaris Therapeutics, Inc. has filed its 2023 10-K report detailing financial data and equity information.</b>

AI Summary

Aclaris Therapeutics, Inc. (ACRS) filed a Annual Report (10-K) with the SEC on February 27, 2024. Aclaris Therapeutics, Inc. filed its 2023 Form 10-K on February 27, 2024. The company's fiscal year ends on December 31st. The filing includes data related to common stock, retained earnings, and additional paid-in capital for multiple fiscal years. Specific equity compensation plans like the 2017 Inducement Plan and 2015 Incentive Plan are referenced. The company is incorporated in Delaware and operates within the Pharmaceutical Preparations industry.

Why It Matters

For investors and stakeholders tracking Aclaris Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Aclaris Therapeutics' financial health and operational structure for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed breakdown of equity, including various stock offerings and compensation plans, offers insights into shareholder value and management incentives.

Risk Assessment

Risk Level: medium — Aclaris Therapeutics, Inc. shows moderate risk based on this filing. The company's financial performance and future prospects are subject to the inherent risks of the pharmaceutical industry, including regulatory hurdles, clinical trial outcomes, and market competition, as detailed in their 10-K filings.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Aclaris Therapeutics' current financial position and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-02-27 — Filing Date (As of Date)
• 65,213,944 — Shares Outstanding (approximate) (Implied from filing values)
• 56,730,583 — Shares Outstanding (approximate) (Implied from filing values)

Key Players & Entities

• Aclaris Therapeutics, Inc. (company) — Filer name
• 2023 (date) — Fiscal year end
• 2024-02-27 (date) — Filing date
• DE (jurisdiction) — State of incorporation
• 2834 (industry) — Standard Industrial Classification
• Silicon Valley Bank Securities, LLC and Cantor Fitzgerald & Co. (company) — Underwriter for at-market offerings
• Equity Incentive Plan 2015 (company) — Equity compensation plan
• Restricted Stock Units (RSUs) (security) — Type of equity award

FAQ

Risk Factors

• Financial Condition and Results of Operations [high — financial]: The company's ability to fund its operations and research and development activities depends on its ability to secure additional financing.
• Regulatory Approval Process [high — regulatory]: The development and commercialization of pharmaceutical products are subject to extensive regulatory review and approval processes by agencies like the FDA.
• Market Acceptance and Competition [medium — market]: The success of the company's products depends on market acceptance and its ability to compete with existing and emerging therapies.
• Reliance on Key Personnel [medium — operational]: The company's success is dependent on its ability to attract and retain highly qualified scientific and management personnel.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-27: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $0.00001 — ange on which Registered Common Stock, $0.00001 par value ACRS The Nasdaq Stock Mar
• $57 billion — se inhibitors market was valued at over $57 billion. We're focused on novel approaches towa

Filing Documents

• acrs-20231231x10k.htm (10-K) — 2683KB
• acrs-20231231xex4d1.htm (EX-4.1) — 25KB
• acrs-20231231xex10d15.htm (EX-10.15) — 117KB
• acrs-20231231xex10d18.htm (EX-10.18) — 85KB
• acrs-20231231xex10d22.htm (EX-10.22) — 27KB
• acrs-20231231xex21d1.htm (EX-21.1) — 6KB
• acrs-20231231xex23d1.htm (EX-23.1) — 3KB
• acrs-20231231xex31d1.htm (EX-31.1) — 9KB
• acrs-20231231xex31d2.htm (EX-31.2) — 10KB
• acrs-20231231xex32d1.htm (EX-32.1) — 9KB
• acrs-20231231xex97d1.htm (EX-97.1) — 38KB
• acrs-20231231x10k002.jpg (GRAPHIC) — 40KB
• acrs-20231231xex10d22003.jpg (GRAPHIC) — 12KB
• 0001558370-24-001753.txt (&nbsp;) — 11188KB
• acrs-20231231.xsd (EX-101.SCH) — 55KB
• acrs-20231231_cal.xml (EX-101.CAL) — 71KB
• acrs-20231231_def.xml (EX-101.DEF) — 243KB
• acrs-20231231_lab.xml (EX-101.LAB) — 581KB
• acrs-20231231_pre.xml (EX-101.PRE) — 412KB
• acrs-20231231x10k_htm.xml (XML) — 2103KB

Business

Item 1. Business 4

Risk Factors

Item 1A. Risk Factors 21

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 58

Cybersecurity

Item 1C. Cybersecurity 58

Properties

Item 2. Properties 59

Legal Proceedings

Item 3. Legal Proceedings 60

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 60 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 61

[Reserved]

Item 6. [Reserved] 62

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 63

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 78

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 79

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 106

Controls and Procedures

Item 9A. Controls and Procedures 107

Other Information

Item 9B. Other Information 107

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 108 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 109

Executive Compensation

Item 11. Executive Compensation 109

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 109

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 109

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 109 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 110

Form 10-K Summary

Item 16. Form 10-K Summary 112

Signatures

Signatures 113 3 Table of Contents PART I

Business

Item 1. Business Overview We are a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases. Our proprietary KINect drug discovery platform combined with our preclinical development capabilities allows us to identify and advance potential drug candidates that we may develop independently or in collaboration with third parties. In addition to identifying and developing our novel drug candidates, we are pursuing strategic alternatives, including identifying and consummating transactions with third-party partners, to further develop, obtain marketing approval for and/or commercialize our novel drug candidates. We also provide contract research services to third parties enabled by our early-stage research and development expertise. In January 2024, we announced that we are undertaking a strategic review of our business. Our Approach We are dedicated to developing a pipeline of novel drug candidates to address the needs of patients with immuno-inflammatory diseases who lack satisfactory treatment options . Our approach to achieve this goal includes the following key elements: Create new medicines through kinome innovation. We are exploring the kinome, a subset of the human genome that consists of a collection of 518 protein kinases, one of the largest of all human gene families, responsible for signal transduction controlling cellular responses. Classified into eight major groups based on their structural similarity to each other, kinases are key regulators of cell function in many cell processes. By transferring phosphates to other molecules, kinases can induce a cellular response to environmental cues. Dysregulation and/or activating/blocking mutations in kinases can disrupt normal cell signaling and lead to diseases ranging from autoimmune diseases to diabetes and cancer, making them important targets for drug development. There are over 70 kinase inhibitors approved by the U.S. Food and Drug Admin

View Full Filing

View this 10-K filing on SEC EDGAR