The company's financial stability is undermined by an accumulated deficit of $987.6M and a reliance on intangible assets, with net PPE representing only $2.9M of total assets.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 110.23M | 151.36M | 125.95M | 128.86M | 231.55M | 205.03M | 57.49M | 83.8M | 179.5M | 208.85M | 174.13M | 92.04M | 16.33M | 13.39M |
| Cash & Short-Term Investments | 105.42M | 90.75M | 113.59M | 119.11M | 217.57M | 191.41M | 54.13M | 73.27M | 167.97M | 208.85M | 174.13M | 92.04M | 16.13M | 13.32M |
| Cash Only | 28.66M | 19.96M | 24.57M | 39.88M | 45.28M | 27.35M | 22.06M | 34.19M | 57.02M | 208.85M | 30.17M | 9.85M | 10.76M | 9.59M |
| Short-Term Investments | 76.76M | 70.79M | 89.02M | 79.23M | 172.29M | 164.06M | 32.07M | 39.08M | 110.95M | 0 | 107.05M | 75.02M | 5.37M | 3.74M |
| Accounts Receivable | 4.81M | 5.57M | 318K | 298K | 484K | 623K | 772K | 704K | 563K | 481K | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 166.35 | 259.55 | 6.2 | 3.48 | 5.94 | 33.63 | 43.47 | 60.79 | 20.36 | 104.32 | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 791K | -6.36M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 42.15 | - | - | - | - | - |
| Other Current Assets | 0 | 55.05M | 12.04M | 9.45M | 13.49M | 0 | 0 | 6.72M | 5.37M | 5.88M | 1.33M | 1.66M | 0 | 0 |
| Total Non-Current Assets | 88.49M | 9.1M | 94.38M | 68.55M | 23.05M | 46.18M | 13.29M | 14.49M | 96.07M | 34.66M | 1.95M | 2.04M | 1.04M | 821K |
| Property, Plant & Equipment | 2.89M | 0 | 1.01M | 1.62M | 1.1M | 1.33M | 1.65M | 2.47M | 4.28M | 2.16M | 481K | 360K | 515K | 19K |
| Fixed Asset Turnover | 4.79x | - | 18.57x | 19.29x | 27.07x | 5.06x | 3.92x | 1.71x | 2.36x | 0.78x | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.5M | 18.5M | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 269K | 6.97M | 7.05M | 7.12M | 7.2M | 72.95M | 7.35M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 298.37M | 60.61M | 90.3M | 62.77M | 12.24M | 34.24M | 0 | 0 | 0 | 15M | 36.91M | 7.17M | 518K | 802K |
| Other Non-Current Assets | 231K | -51.52M | 3.07M | 3.89M | 2.73M | 3.55M | 4.51M | 4.83M | 332K | 279K | -35.44M | -5.49M | 10K | 0 |
| Total Assets | 198.72M | 160.46M | 220.33M | 197.41M | 254.6M | 251.21M | 70.78M | 98.3M | 275.57M | 243.51M | 176.09M | 94.08M | 17.38M | 14.21M |
| Asset Turnover | 0.05x | 0.05x | 0.08x | 0.16x | 0.12x | 0.03x | 0.09x | 0.04x | 0.04x | 0.01x | - | - | - | - |
| Asset Growth % | -13.19% | -27.17% | 11.61% | -22.46% | 1.35% | 254.9% | -27.99% | -64.33% | 13.16% | 38.29% | 87.17% | 441.38% | 22.31% | - |
| Total Current Liabilities | 27.37M | 28.64M | 31.6M | 30.95M | 21.94M | 22.93M | 14.87M | 22.43M | 27.34M | 12.76M | 6.22M | 1.55M | 1.45M | 367K |
| Accounts Payable | 14.73M | 13.16M | 4.69M | 8.88M | 10.35M | 9.98M | 5.25M | 9.92M | 11.68M | 7.82M | 2.85M | 810K | 1.26M | 353K |
| Days Payables Outstanding | 2.11K | 2.3K | 613.13 | 179.22 | 315.9 | 773.29 | 373.6 | 892.65 | 622.1 | 2.37K | 8.65K | 3.29K | - | - |
| Short-Term Debt | 569K | 551K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 14.18M | 0 | 3.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 6.06M | 14.94M | 11.59M | 6.11M | 7.5M | 6.59M | 7.08M | 7.48M | 7.44M | 0 | 100K | 0 | 0 | 0 |
| Current Ratio | 4.03x | 5.28x | 3.99x | 4.16x | 10.55x | 8.94x | 3.87x | 3.74x | 6.56x | 16.37x | 27.98x | 59.19x | 11.26x | 36.47x |
| Quick Ratio | 4.03x | 5.28x | 3.99x | 4.16x | 10.55x | 8.94x | 3.87x | 3.74x | 6.54x | 16.86x | 27.98x | 59.19x | 11.26x | 36.47x |
| Cash Conversion Cycle | -1.95K | - | - | - | - | - | - | - | -559.59 | - | - | - | - | - |
| Total Non-Current Liabilities | 27.7M | 28.73M | 33.18M | 9.27M | 35.04M | 30.94M | 18.26M | 5.95M | 33.1M | 5.49M | 372K | 0 | 36.68M | 23M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 10.65M | 0 | 29.91M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 4.69M | 1.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 367K | 367K | 367K | 549K | 549K | 549K | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 11M | 11M | 13.14M | 9.27M | 34.67M | 30.57M | 7.24M | 5.4M | 2.64M | 4.94M | 372K | 0 | 36.68M | 23M |
| Total Liabilities | 55.07M | 57.38M | 64.77M | 40.23M | 56.98M | 53.87M | 33.13M | 28.39M | 60.44M | 18.25M | 6.59M | 1.55M | 38.13M | 23.37M |
| Total Debt | 1.99M | 2.12M | 0 | 426K | 684K | 693K | 11.26M | 637K | 30.52M | 142K | 0 | 0 | 0 | 0 |
| Net Debt | -26.68M | -17.84M | -24.57M | -39.45M | -44.59M | -26.66M | -10.81M | -33.55M | -26.5M | -208.71M | -30.17M | -9.85M | -10.76M | -9.59M |
| Debt / Equity | 0.01x | 0.02x | - | 0.00x | 0.00x | 0.00x | 0.30x | 0.01x | 0.14x | 0.00x | - | - | - | - |
| Debt / EBITDA | -0.02x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.33x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 143.65M | 103.08M | 155.55M | 157.18M | 197.62M | 197.34M | 37.65M | 69.91M | 215.12M | 225.26M | 169.49M | 92.52M | -20.75M | -9.16M |
| Equity Growth % | -43.3% | -33.73% | -1.03% | -20.46% | 0.14% | 424.15% | -46.15% | -67.5% | -4.5% | 32.91% | 83.19% | 545.78% | -126.51% | - |
| Book Value per Share | 1.12 | 0.84 | 2.01 | 2.25 | 3.03 | 3.48 | 0.89 | 1.69 | 6.54 | 8.02 | 7.91 | 4.97 | -1.95 | -5.47 |
| Total Shareholders' Equity | 143.65M | 103.08M | 155.55M | 157.18M | 197.62M | 197.34M | 37.65M | 69.91M | 215.12M | 225.26M | 169.49M | 92.52M | -20.75M | -9.16M |
| Common Stock | 1K | 1K | 1K | 1K | 1K | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -987.61M | -967.78M | -902.86M | -770.8M | -682.32M | -595.41M | -504.54M | -453.53M | -292.17M | -159.44M | -90.91M | -42.83M | -20.75M | -9.17M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 22K | 610K | 97K | -106K | -897K | -224K | -94K | -66K | -69K | -246K | -269K | -149K | -6K | 3K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and insolvency
As reported in recent SEC filings, Aclaris Therapeutics has seen its total equity decline from $157.2M in 2023Q4 to $143.6M by 2026Q1, a trend that reflects the persistent depletion of shareholder value driven by recurring operating losses and the absence of sustainable internal revenue generation.
The consistent contraction in equity, coupled with a massive accumulated deficit of $987.6M, suggests that the company is effectively consuming its remaining capital to fund clinical development. This trajectory warrants close monitoring, as the lack of a stabilizing equity base limits the firm's ability to absorb further clinical setbacks.
Based on the company's latest financial statements, cash and equivalents have dwindled to $19.96M, a figure that appears insufficient to support the current R&D burn rate, especially when compared to the $47.7M cash position held by the firm as recently as 2024Q3.
While the current ratio of 4.03 might superficially suggest adequate short-term coverage, the underlying cash burn indicates that this liquidity is highly transient. Investors should consider that the company's reliance on cash reserves to fund operations without a clear path to commercial revenue creates a precarious financial position.
According to the provided balance sheet data, the company's retained earnings have plummeted to a negative $987.6M, illustrating a long-term pattern of value destruction that significantly impairs the quality of the equity base and limits the firm's financial flexibility for future capital raises.
The sheer scale of the accumulated deficit suggests that the company has been unable to translate its R&D investments into profitable commercial outcomes. This historical performance implies that any future equity issuance may be heavily dilutive, as the market is likely to demand a significant discount given the lack of positive earnings history.
Financial disclosures indicate that the company's asset base is increasingly devoid of tangible value, with net PPE falling to $2.9M in 2026Q1, suggesting that the firm's primary value is tied to intangible clinical assets that are subject to high impairment risk following recent trial failures.
The absence of significant goodwill or tangible assets means that the company's valuation is almost entirely dependent on the speculative success of its pipeline. If clinical data continues to disappoint, there is little in the way of hard assets to provide a floor for the company's valuation, which may lead to further volatility.
Quick answers to the most common questions about buying ACRS stock.
As of 2025, Aclaris Therapeutics, Inc. (ACRS) had total assets of $160.5M including $151.4M in current assets.
Aclaris Therapeutics, Inc. (ACRS) carries total debt of $2.1M, offset by $90.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Aclaris Therapeutics, Inc. (ACRS) has total shareholders' equity (book value) of $103.1M ($0.84 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Aclaris Therapeutics, Inc. (ACRS) reported a current ratio of 5.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.