Aclaris Therapeutics, Inc. (ACRS) 10-K Annual Report February 2022

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2021	Jan. 31, 2022	Jun. 30, 2021
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-37581
Entity Registrant Name	Aclaris Therapeutics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-0571712
Entity Address, Address Line One	640 Lee Road, Suite 200
Entity Address, City or Town	Wayne
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19087
City Area Code	484
Local Phone Number	324-7933
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	ACRS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 914.5
Entity Common Stock, Shares Outstanding		61,275,033
Entity Central Index Key	0001557746
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Philadelphia, Pennsylvania
Amendment Flag	false

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Inside Aclaris Therapeutics, Inc.'s 10-K Annual Report:

Financial - Cash Flow Highlight
Financing Activities Cash flow related to financing activities was the result of: Proceeds from issuance of common stock in connection with public offerings, net of issuance costs $ 238,200 $ 7,737 Proceeds from debt financing (including warrants), net of issuance costs - 10,913 Repayment of debt (11,483) - Restricted stock unit employee tax withholdings (3,124) - Finance lease payments - (137) Deferred issuance costs - (211) Proceeds from exercise of employee stock options and the issuance of stock 1,459 Net cash provided by financing activities $ 225,052 $ 18,372 Cash provided by financing activities increased for the year ended December 31, 2021 compared to December 31, 2020 primarily due to our January 2021 and June 2021 public offerings.

Financial - Expense Highlight
ATI-1777 The decrease in expenses for ATI-1777 during the year ended December 31, 2021 compared to the year ended December 31, 2020 was primarily due to a decrease in development costs, including toxicology studies, as well as a decrease in costs associated with a Phase 2a clinical trial in subjects with moderate to severe atopic dermatitis, which commenced in 2020 and concluded in 2021.
Financial - Expense Highlight
The following table summarizes our research and development expenses by drug candidate or, for unallocated expenses, by type: Zunsemetinib The increase in expenses for zunsemetinib during the year ended December 31, 2021 compared to the year ended December 31, 2020 was primarily due to costs associated with drug candidate manufacturing and clinical development activities for a Phase 2b trial in subjects with moderate to severe rheumatoid arthritis and a Phase 2a trial in subjects with moderate to severe hidradenitis suppurativa, as well as other development activities including toxicology studies.
Financial - Expense Highlight
The effect of any change in performance conditions would be recognized as a cumulative catch-up adjustment in the period such change occurs, and any remaining unrecognized compensation expense would be recognized on a straight-line basis over the remaining requisite service period.
Financial - Expense Highlight
Other research and development expenses, which primarily include expenses for our legacy dermatology assets and medical affairs activities, were lower during the year ended December 31, 2021 compared to the year ended December 31, 2020 due to a decrease in costs for our legacy dermatology assets following the decision to discontinue investment in those programs.
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In addition, the Sarbanes-Oxley Act...Read more
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Additionally, the inclusion of estimated...Read more
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General and administrative expenses also...Read more
Financial - Shares
Equity Purchase Agreement with Lincoln...Read more
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Contract research revenue was $5.8...Read more
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For example, if the FDA...Read more
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Professional and legal fees ?...Read more
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We have implemented a virtual...Read more
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In addition, to the extent...Read more
Financial - Expense
Other expense, net primarily consists...Read more
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ATI-2138 ? Expenses for ATI-2138...Read more
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ATI-2231 ? Expenses for ATI-2231...Read more
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Upon execution of the Purchase...Read more
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The risk-free interest rate is...Read more
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We may also not be...Read more
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Any such changes could have...Read more
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Our indefinite-lived intangible assets consist...Read more
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The fair value of an...Read more
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The following table summarizes our...Read more
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In November 2018, the Financial...Read more
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Contract research revenue is generally...Read more
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We initially recorded a contingent...Read more
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Factors that could cause or...Read more
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Since our inception, we have...Read more
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We may not be able...Read more
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Definite-lived intangible assets are amortized...Read more
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Our primary uses of capital...Read more
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Our intangible assets include both...Read more
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Indefinite-lived intangible assets are tested...Read more
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For performance-based awards, we recognize...Read more
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Investing Activities ? Cash flow...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Aclaris Therapeutics, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.12: Material Contract

Exhibit 10.15: Material Contract

Exhibit 10.16: Material Contract

Exhibit 10.17: Material Contract

Exhibit 10.18: Material Contract

Exhibit 10.23: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: ACRS
CIK: 1557746
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-001838
Submitted to the SEC: Thu Feb 24 2022 7:32:16 AM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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Aclaris Therapeutics, Inc. (ACRS) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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