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Saturday, June 19, 2021

Why is the stock of Aclaris Therapeutics Inc. (ACRS) surging high in after-hours?

Aclaris Therapeutics Inc. (NASDAQ: ACRS) shows a gain of 3.32% in regular trading while the stock was high by 15.03% during after-hours. The company deals with developing a novel drug to cater to the needs of those who are suffering from immuno-inflammatory diseases and do not have suitable treatment options available. The company also has a multi-stage portfolio of drug candidates powered by a robust R&D engine exploring protein kinase regulation. Regarding the hike in the company’s stock, there is no recent news or press release available. At the same time, Aclaris Therapeutics has launched its Fourth quarterly and full-year 2020 financial results on February 25, which could be the reason for the recent up and down of stock.


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Financial Results

  • The company has recorded its net loss as $13.2 million in the fourth quarter of 2020 compared to $18.6 million for Q4 2019. Whereas the net loss for the full year 2020 is calculated as less than the net loss of the year 2019, which is $51.0 million compared to $161.4 million.
  • Total revenue generated for the fourth quarter of 2020 is $19 million compared to $1.1 million for Q4 2019. Similarly, the total revenue for the full year 2020 is also higher than the total income of 2019. For 2020 it was $6.5 million, and for the year 2019, it was $4.2 million.
  • For the year 2020, the research and development expenses were $31.7 million, while the figures were $64.9 million for 2019. On the other hand, the R&D expenses were $9.0 million for the fourth quarter of 2020, and it was $11.5 million in Q4 2019.
  • General and Administrative expenses were $20.5 and $27.8 million for the full year 2020 and 2019. Simultaneously, the G&A expenses were $4.9 million in the fourth quarter of 2020 compared to $5.8 million for the prior-year period.

Recent Events

The company has recently participated in H.C Wainwright Global Life Sciences Conference on Tuesday,March 9. Alongside this, the company has yet to join another investor conference,i-e, Oppenheimer 31st Annual Healthcare Conference happening on March 16, Tuesday.

Conclusion

Due to the ongoing pandemic situation, the company had faced disturbance that could affect its research and development and regulatory activities. Whereas despite the disruption faced by the company, it has given entirely satisfactory financial results for the year 2020which could help the investors to keep their hopes intact with Aclaris Therapeutics Inc.

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