Business
Aclaris Therapeutics Reports First Quarter 2020 Financial Results and Provides R&D and Business Highlights
Projected Cash Runway into the First Quarter of 2022Borrowed $11 Million from Term Loan Facility WAYNE, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- Aclaris
About this update from Aclaris Therapeutics, Inc.
[{"type":"text","content":"Projected Cash Runway into the First Quarter of 2022Borrowed $11 Million from Term Loan Facility WAYNE, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a physician-led biopharmaceutical company focused on immuno-inflammatory diseases, today announced its financial results for the first quarter of 2020 and provided research and development (R&D) and business highlights.\n “In the first quarter, we borrowed $11 million from Silicon Valley Bank enabling us to extend our cash runway, and started enrolling subjects with moderate-to-severe rheumatoid arthritis in our Phase 2a trial of ATI-450. As a result of the COVID-19 pandemic and as a precautionary measure, we temporarily paused subject enrollment in this trial. At this time, we have decided to resume enrollment at one clinical trial site. We will continue to monitor the COVID-19 pandemic and engage additional clinical trial sites, as appropriate, based on our assessment of the impact on our trial. I’m proud of our team’s focus, dedication and resilience while navigating through the unique challenges that the COVID-19 pandemic has created,” said Dr. Neal Walker, President and CEO of Aclaris. R&D Highlights:The global outbreak of COVID-19 continues to rapidly evolve and has caused and may continue to cause Aclaris to experience disruptions that could impact the timing of its regulatory and research and development activities listed below. ATI-450: ATI-450 is an investigational oral small molecule MK2 inhibitor.ATI-450-RA-201: A Phase 2a trial to investigate the safety, tolerability, pharmacokinetics, and pharmacodynamics of ATI-450 in subjects with moderate-to-severe rheumatoid arthritis. Aclaris started subject enrollment in the first quarter of 2020. Due to the COVID-19 pandemic, Aclaris temporarily paused enrollment of subjects in the trial. At this time, Aclaris has decided to resume enrolling subjects at one clinical trial site. The initiation of additional clinical trial sites will be determined on an ongoing basis as the COVID-19 pandemic evolves.Aclaris previously anticipated reporting data from this trial in the second half of 2020; however, Aclaris expects that the data may be delayed and will provide an update, at a later date, regarding the timing of reporting data from this trial. ATI-450-PKPD-101: This Phase 1 single and multiple ascen...