Aclaris Announces Proposed Public Offering of Common Stock
November 16 2016 - 4:05PM
Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a clinical-stage
specialty pharmaceutical company, today announced that it intends
to offer and sell, subject to market conditions, up to $65,000,000
of shares of its common stock in an underwritten public
offering. All of the shares of common stock to be sold in the
offering will be offered by Aclaris. Aclaris also intends to grant
the underwriters a 30-day option to purchase up to an additional
$9,750,000 of shares of its common stock sold in the public
offering on the same terms and conditions. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or the actual size
or terms of the offering.
Aclaris intends to use the net proceeds from the offering to
fund the submissions for regulatory approval of its drug candidate
A-101 Topical Solution (A-101) for the treatment of seborrheic
keratosis (SK), to develop a commercial sales force to market A-101
for the treatment of SK, if approved, to fund the continued
research and development of A-101 for the treatment of common warts
and its JAK inhibitor drug candidates ATI-50001 and ATI-50002 for
the treatment of alopecia areata, to fund preclinical development
and formulation of a JAK inhibitor drug candidate for the treatment
of androgenetic alopecia and vitiligo, and for working capital and
general corporate purposes.
Jefferies LLC, Leerink Partners LLC and Guggenheim Securities
LLC are acting as joint book-running managers for the offering.
William Blair & Company, L.L.C. and JMP Securities LLC are
acting as co-managers for the offering.
A shelf registration statement relating to the shares of common
stock offered in the public offering described above was filed with
the Securities and Exchange Commission (SEC) on November 2, 2016
and declared effective by the SEC on November 14, 2016. The
offering will be made only by means of a written prospectus and
prospectus supplement that form a part of the registration
statement. A preliminary prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus, when available, may also be obtained by
contacting Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or
by email at Prospectus_Department@Jefferies.com, or by phone at
(877) 547-6340; Leerink Partners LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110,
telephone: (800) 808-7525, ext. 6142, email: syndicate@Leerink.com;
or Guggenheim Securities, LLC, Attention: Equity Syndicate
Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by
telephone at 212-518-9658, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About Aclaris Therapeutics, Inc.
Aclaris Therapeutics, Inc. is a clinical-stage specialty
pharmaceutical company focused on identifying, developing, and
commercializing innovative and differentiated drugs to address
significant unmet needs in dermatology. Aclaris is based
in Malvern, Pennsylvania.
Forward-Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Aclaris Therapeutics, Inc., including
statements about Aclaris’s anticipated public offering, anticipated
use of proceeds and other statements containing the words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“plan,” “predict,” “project,” “target,” “potential,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all,
uncertainties inherent in the initiation of future clinical trials
and such other factors as are set forth in the risk factors
detailed in Aclaris’s Annual Report on Form 10-K for the year ended
December 31, 2015, Aclaris’s Quarterly Report on Form 10-Q for the
quarter ended September 30, 2016 and Aclaris’s other filings with
the SEC under the heading “Risk Factors.” In addition, the
forward-looking statements included in this press release represent
Aclaris’s views as of the date hereof. Aclaris anticipates that
subsequent events and developments will cause Aclaris’s views to
change. However, while Aclaris may elect to update these
forward-looking statements at some point in the future, Aclaris
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Aclaris’s views as of any date subsequent to the date
hereof.
Contact:
Aclaris Contact
Michael Tung, M.D.
Vice President / Investor Relations
484-329-2140
mtung@aclaristx.com
Media Contact
Mariann Caprino
TogoRun
917-242-1087
M.Caprino@togorun.com
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