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Aclaris Therapeutics

ACRS
29
Biotechnology · Healthcare
Also trades as: 0H8T.L GBP 0.04 (-0.26%)
Price
$3.83
+0.02 (+0.52%)
Market Cap
$563.8M
Exchange
NASDAQ
Winston Score
29
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
10/30
Growth
Weak
3/20
Cash Flow
Weak
0/10
Stability
Good
5/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Not counted
n/a

28 of 95 counted points = Winston Score 29. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+116.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 56.7M (2021) → 122.7M (2025)

§Winston Score History

The full picture

Aclaris Therapeutics is a clinical-stage biotechnology company focused on developing drugs to treat skin diseases and immune system disorders. Its pipeline includes treatments for conditions like alopecia areata (a disease that causes hair loss), atopic dermatitis (eczema), and other inflammatory diseases. The company sells one approved topical product, Eskata, though its main focus is advancing experimental drugs through clinical trials.

Aclaris earns limited revenue today, mostly from licensing deals and a small amount of product sales, which explains why its operating losses are extremely large relative to revenue. It operates primarily in the United States and is considered a small-cap company with a market value around $500 million. The company has no wide competitive moat yet, since its value depends almost entirely on whether its pipeline drugs succeed in clinical trials — meaning a failed trial could significantly damage the business, while a successful one could change its outlook entirely.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-8.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-15.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$53M/ year

↑ Rising (+57% vs prior year)

672.7% of revenue

37.4x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

19.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

$171M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$171M cash & investments at current burn rate

Heavy R&D investment

Aclaris Therapeutics is putting 673% of revenue into R&D and that number is rising. That's 37.4x the sector average. With 2+ years of cash runway, they have time to let it pay off.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
85.8%
Premium pricing power — 85.8% gross margin
Profit after running costs
Operating Margin
-1487.9%
Losing money on operations — -1487.9%
Return on the money invested
ROCE
-69.3%
Weak — -69.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-51.0%
Shrinking sales (-51.0% YoY)
Profit growth
EPS YoY
N/A
—
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
—
Data not available
Spare cash per sale
FCF Margin
-756.5%
Burning cash (-756.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.01
Conservative — low debt load (0.01)
Covers its interest
Interest Cover
N/A
—
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
—
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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