Aclaris Therapeutics IPO: Consider Holding Off

Aclaris Therapeutics Inc. (NASDAQ: ACRS) expects to raise $75 million in its upcoming IPO. Based in Malvern, Pennsylvania, Aclaris Therapeutics is a clinical-stage specialty pharmaceutical that develops and markets topical treatments to address various dermatological conditions.

ACRS will offer 5 million shares at an expected price range of $14 to $16. If the underwriters price the IPO at the midpoint of that range, ACRS will have a market capitalization of $291 million.

ACRS filed for the IPO on August 17, 2015.

Lead Underwriters: Citigroup Global Markets and Jeffries LLC

Underwriters: William Blair & Co.

Business Summary: Specialty Pharmaceutical Company Developing Dermatological Treatments

Aclaris Therapeutics is a clinical-stage specialty pharmaceutical company that focuses on identifying, developing and marketing topical treatments that address a variety of skin conditions. Its primary drug candidate is A-101, a hydrogen peroxide topical solution that has completed Phase II clinical trials for the treatment of seborrheic keratosis (SK), a relatively common benign skin tumor. A-101 is also being considered as a prescription treatment for common warts, and it is in Phase I trials for this application. In addition, Aclaris Therapeutics is developing A-102, a proprietary topical gel form of hydrogen peroxide for the treatment of SK and common warts.

Aclaris Therapeutics intends to initiate Phase III clinical trials of A-101 for the treatment of SK in the first quarter of 2016. If those trials are successful, the company expects to submit a New Drug Application (NDA) to the FDA in the fourth quarter of 2016. In addition, the company recently in-licensed the exclusive, global rights to the Janus kinase (JAK) family of enzymes, which treat certain dermatological conditions. Aclaris Therapeutics intends to develop the JAK inhibitors to treat hair loss due to the autoimmune skin disease, alopecia areata.

See the full pipeline here.

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Disclosure: None.

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