ACRS - Earnings call transcript Q2 2019 | Aclaris Therapeutics, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the Q2 2019 Aclaris Therapeutics, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode.

Following management’s prepared remarks, we will host a question-and-answer session and our instructions will be given at that time. [Operator Instructions] As a reminder, this conference call may be recorded.

pleasure the my Ms. over now is to conference hand to It Ali-Jackson, Legal Kamil Officer. Chief begin. may you Ma’am,

Kamil Ali-Jackson

Thank you. its Ali-Jackson, that second I’m Kamil XXXX earlier Please for quarter today, note Aclaris. Aclaris issued results. press announcing Chief release Legal Officer

yet you a will in Investors not posted website our it, section you For those of have at seen of the who find release www.aclaristx.com.

Chief call Stuart Financial President and Frank Officer; Dr. Shanler, Joining our Chief Officer; Walker, Ruffo, Dr. Chief me of Chief and our Officer; Neal our today David Gordon, Jeff are Dr. for Interim Officer; our the Commercial. Scientific Medical Executive Head Wayne,

and our Before position, plans and objectives during begin federal you call the business that for would statements and operations are the of Aclaris’ prepared within we securities operations like statements this to laws. future remind considered financial remarks, I meaning company’s forward-looking about strategy make we the future various of results

changes forward-looking statements assumptions reflected based expectations that upon such and from current Our involve are cause results statements. materially to in in uncertainties those differ circumstances, could actual risks, that

in ended are Form for Management’s of the and filed XXXX the filings makes Form from These ended other sections Aclaris Discussion the of described of XXXX, with Financial SEC risks Factors Condition Risk and to Results for XX-K XX, June Aclaris’ December Operations the XX, year Analysis and quarter XX-Q time. today and time

of SEC section the available the page documents These www.aclaristx.com. under website filings of Investors are Aclaris’ at

any we make on new otherwise. we is events as information information, All call of provide call statements, account today we and may update no to future of undertake provided this of or on conference this on obligation the forward-looking

of to Walker, Aclaris. call to and website. is Neal our over Dr. the advised the I’ll President section being Investors be link of Neal? and recorded Please turn is call now posted webcast the in A that webcast. today’s CEO

Neal Walker

earnings call our today. for thank Thank joining you and us everyone you, QX on Kamil,

second June, uncontrolled rewarding, interim but also highly indication to study alopecia The In inhibitors from of been our label called designed quarter the female new open or pattern pilot challenging. safety of encouraging androgenetic reported hair loss. and a was JAK data in prevalent topical the This assess we AGA both and male efficacy and has use six-month study.

will have We six-month data the end, with step of is data, would a with trial clinical year concentration the be conduct the next XX-month a find if and a by to partner higher consistent to controlled ATI-XXX. strategic it

concentration now X.XX% we higher achieve As than can concentration a a we believe we reminder, a and X%. used

we was which June, endpoints. our across in addition, alopecia meet trial, topical In reported negative expectations not did and primary planned and of the the both results secondary unfortunately areata

believe ATI-XXX strategic failure, reasons alopecia with areata, then continue plan the currently believe an the concentration a sub-optimal for of in viability partner and and we to unexpectedly, for development. placebo but Although a were to concentration of response further topical high a seek a we approach for higher

trial This more positive areata. well reported trial, was generally a inhibitor, demonstrated of ATI-XXX Recently, from we JAK efficacy forms data ATI-XXX for oral the severe and robust signal our alopecia tolerated.

initiated also a dosed have is which Phase our This X we the into patient Lastly, clinic. been has our August X. compound Confluence on first internally-generated acquisition advanced recently trial, the from with first

second quarter compared to fourth the when the NPA the the growth or Audit the of quarter a XXXX. calendar monthly XXXX, National estimated still XX% XX,XXX, for prescriptions RHOFADE IQVIA and product commercial, represents owned second quarter since was This of the promoted of by in is and first being as count prescription quarter exceeded Allergan of as to per XXXX part the Turning – for data. highest Prescription

quarter, first second RHOFADE quarter of data. to for as estimated monthly growth IQVIA prescriptions the in X% XXXX the achieved per New the of NPA compared

outperformed quarter Oracea, grew Mirvaso, the XXXX, Finacea branded Soolantra and by by which brands rosacea second in RHOFADE, defined of RHOFADE the only as market X%.

three In is fact, as coverage RHOFADE XX% has stable, outperformed coverage last according for commercially-insured data. quarters. the with lives, & Managed defined of Markets with access RHOFADE to for XX% payer Commercial rosacea branded the for unrestricted market lives Technology above and of Insight for

to On isotopic the use areata. the amount treat the these forms IP and patent further claims bolsters This deuterated male recently IP hair our or in alopecia effective of including and androgenetic estate issued. patents of alopecia around pattern female areata front, ruxolitinib, two The loss, of forms an covers important patents of first including issued ruxolitinib loss. different of alopecia hair

RHOFADE involves expires active methods for face on the the XX as of a use patent provides with ingredient. to is associated erythema include facial methods once-daily directed of claim a in listed The sixth methods sole XXXX. patent for this topically second treating rosacea. additional which It composition contains comprising oxymetazoline administering Book X% claims and Orange the product patient, protection of The and RHOFADE,

We believe price. many the created with a that company assets dislocated has that have from stock become we valuable

the are shareholders drive returns. to we is We positive how And wanting with stock trading. and satisfied not with are aligned

to end, announced business deploy capital to commercial determine order maximize how portfolio and we a are return. R&D that of of that To strategic we in to review undertaking our shareholder assets optimally

this following. announced part of undertaking, As the today, we

the reasons. the were as product commercialization or commercialization the due U.S. physicians not sufficient that result a discontinuing or us by either patients, fact market sustain of product for ESKATA any insufficient voluntarily to continued achieving not in efficacy of from the safety and revenues to acceptance are sales for We

us X/X in partner partner We both where strategic We associated are to a we ATI-XXX for studies length are and Canada months and advantageous to makes for and currently also intend alopecia commercialize XX topical studies further it oral more U.S. ATI-XXX franchise. with inhibitors to the These and compounds alopecia. our excluding both seek JAK however, typically and to duration our already develop clinical costs these have also in the worldwide, a partner. a partner investigational this product strategic seeking

We we ongoing If trial plan successfully oral investigational drug candidate, ATI-XXX candidates, X drug advance invest our trials, clinical clinical our once in Phase candidate, internally-developed indication. an additional other expect to MKX with plan providing have X for we completed arthritis for one including to complete continue strategic inhibitor. we to the immuno-inflammatory and this into review. our one inflammatory patients further for We two weeks, on rheumatoid and business ATI-XXX in coming our Phase updates

over David the that, With clinical Medical to will Chief for hand review updates to Gordon, our David? Officer, call the quarter. the I

David Gordon

provide few afternoon from highlights everyone. few mentioned Neal, R&D I’ll minutes program, specifics. a more good to Thanks, the and Neal take and a

in in clinical for XXXX. XX% program common calls, the X Phase As vulgaris previous for our our verruca of mentioned A-XXX was initiated treatment development or Topical September warts Solution

We patients our common are warts. pivotal and These planned have we as of the in studies trials, completely over X,XXX X THWART-X named to two treatment XXXX. in the report of Phase progressing and half data expect for enrolled THWART-X second

last the the we the trial, extension requirement enrollment completed safety a for which of open-label NDA Since is call, filing.

approved to Topical treatment As warts. a XX% potential reminder, common FDA for has be prescription the first A-XXX Solution the

trials. inhibitor JAK our to Turning

inhibitors and also or alopecia six open and and the and We our atopic have We with oral alopecia topical Phase announced data study. ATI-XXX and dermatitis. previously androgenetic vitiligo label studies conducted topical open-label been we oral focus our studies a months alopecia X/X AGA, X JAK ATI-XXX, results from on AGA in developing additional from

Let me briefly summarize these results.

in that This hair Topical. of vehicle trial, the not the evaluated of Phase efficacy XXX alopecia on In regrowth response statistical June X did was of we at ATI-XXX controlled achieve endpoints primary randomized, in concentrations trial. AA-XXX announced and parallel-group, the or superiority with secondary areata. our First, ATI-XXX this which XXXX, double-blind, dose safety, two patients

we XX achieved patients certain that July hair trial ATI-XXX areata. AUAT-XXX ATI-XXX with X This trial in for the hair dose program, of our ATI-XXX double-blinded evaluated placebo In of ranging and alopecia in endpoints oral three our endpoints growth, randomized primary XXXX, of the improvement alopecia treatment was to secondary this regrowth and Moving over in the doses significant several trial. areata. placebo-controlled Phase Oral of including measures statistically announced of

The doses. XX% in These the XXX across reductions and compared upper treatment The were respiratory influenza, all in and changes observed respectively. group be well-tolerated all groups, the UTI, to at XXX relative the placebo nasopharyngitis, adverse generally infection, hair was reductions in common most primary events for were elevated highly The ATI-XXX statistically tract X% CPK significant groups XXX, the versus and XX% efficacy sinusitis. endpoint loss groups. acne, all across XX%, and

label is also XX data months hair ongoing an or Topical of describe open with females. in are that AGA the fourth patients we X results for the trial as Phase both of males in study, a AGA topical of reported were June loss. XXXX. topical pattern female treatment male enrolled. ATI-XXX clinical Our known signal AGA and XX six-month The in expected positive quarter interim AGA-XXX

XXX potential AGA. June, has to females in medicine males an As with stated be to that benefit particularly could bring and both Topical innovative

to and results. It and assessment with X.XX% dermatitis. ATI-XXX observed primary were serious adverse subjects Turning atopic of safety be was efficacy XX the moderate evaluated generally and new in had of a a Phase Topical, severe the clinical safety now well-tolerated events open XX-day treatment trial the to treatment-related tolerability. X reported. uncontrolled label no objective and was adult AGA-XXX ATI-XXX to phase

score of topical to the Physician which viable with XX than treatment ATI-XXXX, one, a atopic be soft-JAK less treatment from the X-point for change dermatitis. developed the Global a had suggest score, topical PGA evaluable JAK X the encouraging or baseline for may option potential or investigational to X-point at scale. on is solution internally achieving of endpoints that be or the X of results of could met subjects an moderate-to-severe Assessment PGA XX% a or inhibitor which X secondary dermatitis. These a inhibitor, be atopic emollient-containing for equal This least

skin Phase uncontrolled of ATI-XXX the Topical ongoing re-pigmentation the in safety and evaluating X an VITI-XXX vitiligo. X.XX% facial clinical patients efficacy is on of with trial XX open-label

an clinically some has been response not of demonstrated analysis at the patients, meaningful. be months sufficient slow evidence and Although interim in re-pigmentation rate six to

after we discontinue has program this result, have been serious events generally to trial. date. As a to adverse and this well-tolerated, been have ATI-XXX of treatment-related completion no decided reported

can first that I’d we’re target like excited that MKX the interleukin-X we this about. in very pathways. early for that mention this of drug drug got half with oral we the believe I’m trial. to molecule first drug, X XXXX, pleased is to ATI-XXX IND an have successfully inhibitor, we and small of TNF, Phase a candidate brief interleukin-X, the finish ATI-XXX, our interleukin-X In filed and now patients announce a

step patients in additional with X One is single rheumatoid ATI-XXX for and indications. ascending trials. and The inflammatory the multiple for Phase after advance and Phase arthritis, dose an to study X next one the

CFO, our financial review Ruffo, will Frank our second to quarter I this hand now over to results.

Frank Ruffo

David. Thanks, afternoon, everyone. Good

As that today’s through second results, I reference financial our financial the please press found release. quarter in walk be tables can

XX-Q section For further detail, Form today. to please MD&A in refer filed that was the our

inventories June XX, RHOFADE For research contract the sales about weekly which XXXX, $XXX,XXX total revenues based of be by weeks the quarter should RHOFADE sales net RHOFADE $XXX,XXX. were net net impacted and positively ended during the which million, our of two $X.X of on of increased It wholesaler $X.X average noted demand. revenues $XXX,XXX that by sales ESKATA quarter, consisted million, wholesaler during for second quarter

for XXXX, efficiently to patient At were RHOFADE levels service balances inventory normal June XX, demand. wholesaler within

to and excluding cost XXXX and $X.X million $X million for and the of second quarter Cost royalties related $XXX,XXX of amortization, and included of ESKATA, respectively. goods was of RHOFADE revenue,

recorded asset in charge result amortization recorded We of to as the million also intangible related the recurring, acquisition a $X.X XXXX. of RHOFADE a non-cash

share-based of were charges of non-cash and business Our CRO cost million included the about depreciation $X comp QX for in $XXX,XXX. revenues and

again our other which and Looking $X.X was from June of XX, of revenue milestone $X and $XXX,XXX. included costs second incurred back to quarter about CRO million, of million consisted research was and $X at our of comprised year quarter the ESKATA costs ended of product million, $X.X million last $X.X non-cash of sales ESKATA charges of business of share-based of revenue for depreciation related net $X.X comp XXXX, a of for million the and contract one-time sales that total revenues revenue $XXX,XXX Cost payment. million was

of discontinued we And ESKATA of been sales As us for mentioned have today. brand. sustain product today, continued commercialization the have insufficient to date sales ESKATA accordingly, of to effective we

million. – for QX expenses, for million $XX.X our our to non-cash of quarter $XX.X R&D the total quarter to year. included million expenses stock-based operating switching million $X.X XXXX, second the compared R&D were expense Now, approximately $XX.X expenses second compensation of – that’s of last $XX

ongoing increases X our at warts for X the completion quarter by clinical Phase The were various treatment other trials in These increases spending increases to Phase result programs this common for ATI-XXX end the our most our JAK program. in as or related the were partially were experienced of our mainly XXXX these of offset clinical for second decreases near year. the trials of projects of of inhibitor at and

of second decreased last XXXX second to quarter of This to quarter of the and total $X.X professional of expenses marketing ESKATA, direct which launch the million the in XXXX, in XXXX. For due were in we was sales compared reduction for experience a $XX.X advance was May million XXXX. which marketing mainly of incurred our year in fees,

were partially were personnel which RHOFADE. by XXXX the of support of the also in first costs during this quarter second half marketing due decreased in increased XXXX Personnel-related to And our in costs, incurred experienced our decreases commercial of year. the to offset these relaunch turnover

stock-based quarter increase XXXX, G&A approximately XXXX, $X RHOFADE. million. million as XXXX of The in to of transition to second incurred million compensation. to due which payment Allergan milestone our included the the of a XXXX, with $X.X expenses non-cash related previously were the was mainly included for quarter cost as stock-based of payment the the milestone of which excluding This For $X.X mentioned under agreement million comp service well compared $X.X million, $X.X non-cash when second

and medical affairs in infrastructure. support order during personnel Also our commercial increased the and activity both quarter to increased costs activities our

sheet. goodwill of charge impairment of from of performed XXXX, full Since stock analysis is an unit value dermatology decline price. During goodwill less carrying to a due recent we value, $XX.X the interim we non-cash fair our writing balance quarter million, therapeutics impairment balance in of its our second than reporting our the off cost the recorded the

which of of compared decreased on outstanding Other income, back second our by the net, to quarter to as for second XXXX due debt, $XXX,XXX the incurred borrowed about in XXXX. October expense XXXX quarter interest was

million was Our quarter loss of for the net XXXX, $XX.X for quarter $XX.X to second the million second XXXX. compared of

During this we in the quarter incurred non-cash of $XX.X second charges. year, million

$XX year. second our this was cash less first of quarter than burn Our XXXX quarter million of approximately

XXXX cash. cash provided XXXX. was operating compared period Our for the burn same changes working $XX.X capital of $X.X million second million in our $XX.X the for Also quarter in million to in

XX.X giving approximately As and our anticipate had capital XXXX, We we million our common million financing stock of fund $XXX the transactions to new of business June shares quarter cash current activities. that XXXX, or outstanding. XX, be of investments to any additional without fourth and potential effect had development sufficient operations into of

we for reducing stock-based Now original for stock-based – million, compensation estimate expenses. of to current provided initial million most continue to expenses of XXXX million included our operating million our and to million, sales expense $XX compensation. R&D full GAAP $XX $X outlook that now March guidance, guidance in the million estimates to which and be turning financial compared XXXX, to $X marketing both year are we range $XX GAAP the we of reiterate Today to G&A for of including $XX in our our

That is it.

I will call Neal closing So to over the remarks. for back turn some

Neal Walker

Thank you, Frank.

in our We for internally plan deliver with board maximize timelines update shareholder business determine As commercial in and financial this release, working direction to value. and current and today’s a are R&D and priority. review an assets we capital deploy weeks. assessment is team clear of business to mentioned strategy optimally our our portfolio our to we to on our how with the management our coming of strategic updated Conducting everyone undertaking top

results wart year. Phase X to We available this be will that later forward reporting also the on common look

for Thank please questions? your Brian, for And you can you poll attention.

Operator

[Operator sir. come first Chen Instructions] Yes, My from pleasure. with And Louise Cantor. our question will

Your line is now open.

Louise Chen

I Hi, thanks had for question. my few a here. taking

you here And your and from conditions I you yourself was for question So, on RA differentiate opportunity, in this last the both was us I second confidence data. special could gives here RHOFADE. and competition? question the market And opportunity this had is the AD how other question and next thoughts what will first in your on on had step on compound ATI-XXX give you more what the then then makes inflammatory on

peak get how you think is curious opportunity your to do Just take there? it think and market you what you long will

Neal Walker

Sure. Louise. Hey, It’s the I’ll the two Neal. first hand last address Frank. and one off to then

is severe in treat So and on that we moderate dermatitis. the AD of front, couple I inhibitors to noting. were worth pretty think One well to points know patients we that atopic JAK are offer a

population. a really a that wanted any – wanted regard. be a to population in effects So spray using more converted work idea solution, that if patient we Solution this would Topical of the patient severe and not we could to would in could in And also have we note test which we understand into side that

that was We X.XX this a scores reduction found we on severe patients And achieved extremely a moderate mean its basis well basis. what a earlier I week and in be which we was down the XX.X% points optimized. then, that’s regulatory And that a were importantly, a on and think had to with resolution patient with patient a itch on on We it the by at endpoint, PGA, two. four X mentioned the rapid solution that points Dave of tolerated. was medium X not population point weeks, with reported would has necessarily X.X –

data mentioned which before metabolized So which on topically we’ve it skin gets as and bridge we’re soft-JAK, in a the XXXX, the once rapidly works that plasma. our encouraged to as really is hits a

view we’ve that exciting what’s population. atopic solution, PGA safe And to XX% making a of data incorporate been is would existing a competitive, able projection the of that’s kind patient to and X/X an for the a think I moderate well, and we be it now than emollient least in the is that So that dermatitis JAK date. that, in some along more the measures it’s tailor-made severe have to is of on at works an number than pretty reported in fact exceedingly based it better safe been into or population exceedingly

the that and XXXX. that in think be that have emollient, we’ll a a product differentiated that mid-part an with IND a in soft-JAK will spray compliance to we enhanced due in be of is And an contains

all that these designed to doing very of way. understanding programs open think I exciting diseases I there some how think So work quickly, clinical and speaks some is in this I in and think we were pretty what label cost different a efficient pretty signals and

could one going question, IL-X hidradenitis, the atopic to could including a variety second opportunity this is there of et make of those about for the Again, sense and address us an beta approach, rheumatoid small ones is of molecule address there’s dermatology, molecule On oral is dermatology from that after that small think forward. market the and but can just even your also TNF-alpha, the that all here on an looking oral think one most there arthritis, IL-X I biologics think psoriasis, when for think we at beyond the about indications, opportunities many out dermatitis. many are it others trick go inflammatory disorders, choose a diseases, this ATI-XXX and that conditions myriad so cetera,

Obviously, we ongoing XXX an that, here gross-to-net in and it’s has is would manage really market So board of prescription the we the what that gross potential that’s is number of opportunity kind there I to a diseases, value. discount massive process. platform we’ve market the million across product. a On a is tell address need before you peak to think opportunity and a is said RHOFADE, this and

your how You and better co-pay at you kind that – of getting through also coverage adjudicate your card. manage looking

in So quarter, territories average RHOFADE I reps we given showed had think our quarter. during XX nice the staffing about that particularly growth with second the we on

Louise Chen

very much. you thank Okay,

Operator

come And from with Abraham Liav Citi. our question will next you. Thank

Your line is open. now

Liav Abraham

throughout the the of upcoming referenced to comment the remarks, the a to the program. can year sense on and Since some Good product, secondly, your warts strategic to for gross your of context question patient on of with your this within review, give the the assuming of the of refill on you commercialization product, you afternoon. just maybe positive? with are in Neal, just sense follow-on the you you a perhaps RHOFADE commitment your rates can – comment Can product data points prepared data product? some net experience And on and kind of patient the relaunch get the experience data us progression then

Neal Walker

I been We’ve again both that patient and from has experience heard positive. time the and quite time physicians. and think patients

the growth that’s those new that steady think growth expansion we’ve seen the I NRxs our physician seen base and of in through TRX and there. reflective within prescribers of clicking we’ve

we’ve So happy been with that.

gross to talked and before, get I to to early pull the On one range. the There are in obviously XX. net various of to be been mentioned that In range lower those. about. can XX we we’re side, have the that exploring That’s continue we as in what we days, levers

ways one effective just better think plants And we that. to think of the get as of coverage proceeded. that and to are the to now opportunities number talking I transition are plants do those most has I there a with is

those have as we a periods and This – on over basis trying way not a the really we’re It be time, to rid supposed TRX of that’s scaled evolve, is to certain chronically. numbers I on themselves. we’re the think be From get just being all the up always to make improve necessarily that the one and be one-off, areas. that’s So again to profitable scripts to driving redness. to messaging by kind a want is and and it. good refill the in in sure coverage it of refill drug why seen the for we It’s that’s of haven’t used and force. really long encouraged things perspective, we’re of mindful of supposed daily that used expect speak We meant our We’ve to rates sales a used

Jeff Wayne

This is Jeff.

have addition for of for products used facial include recently think also patients comments, persistent multiple have the to treatment treatment a we have be I systems. of to treat which to new fact they rosacea seen treatment products that In because guidelines and the the rosacea, Neal’s erythema, published multiple like often RHOFADE

of by it’s between So recent all the in guidelines hope along patient increase supported messaging to we now treat of most the and that up, and part their terms this of physician the use erythema. has came will and RHOFADE been dialog the that

Neal Walker

And there. to your to relative question generate on warts, positive our is first job data

So we’ll coming we on a the giving look in forward we’re to I doing be color mentioned what doing as business from more that and perspective before. weeks,

Liav Abraham

Thank you.

Operator

And Securities. line JMP our Ellis from you. of Donald question will come with Thank the next

Your open. line is now

Donald Ellis

Thank well the to Would you. those your question My RHOFADE near R&D at burning numbers, divesting Correct like term save that from looking guys. cash at looks interesting I’m cash is until be programs. me, it quarter? is you sale maybe about it if of RHOFADE as RHOFADE. but consuming used to consider for grows cash wrong, in some commercialize could other generate as least Good afternoon, the that every continuing

Neal Walker

growth revenue what you against brand. by deployed tell ratcheted static our Sorry, spend that been early good now. the days me. certainly in sales we’ve think I particularly one of of in of so I we’ve considering can that seen down cash we’ve in the six has and or consumes the months think guidance everybody launch, can pretty some usually think some the and revised And some I marketing – we’re Hopefully the But hear there’s there.

the And as at I kind looking review doing mentioned is Liav everything. to part question, an last in of overall of business

just R&D Looking of these and candid, things to you you at capital is business see this on in and look all stock where side your to your an most be of the your position, business. eye have And the deploy side is cash with when efficient it runway. the commercial the at price have to

where we’re looking that’s at. So

Donald Ellis

Thank you very much.

Operator

Blair. Lugo our Tim with the And you. question from line come William of next Thank will

open. now line is Your

Tim Lugo

Thanks question. for the

Going the back be the expecting strategic versus like which a in interested Is company assets. assets it about another from review, this you’re way be to in it? partnerships the correct sounds could company, be may that one interested may R&D to think commercial

Neal Walker

so. and a Yeah, pretty I think of both in within lot always on active space. having BD we’ve the been Tim, acquiring connectivity

both like to before, with quite these So the assets. with in alopecia the they’re changed But within deal expensive, we’re I mentioned over the of who on dermatology reformulation you strongly the hard years. universe might I predict, each we are ultimately of a sorts bit the And think both and ecosystem studies particularly some those incorporating topical. believe very the oral assets, with And more work the longer, indications has it that pockets the programs need and think like the work and along of monetize the efficient can more some some I designs deeper we we those that have company more things AD and can of trial doing think ATI-XXX. with term short benefit do to way, capital we we’re long like if in the into us and allow the efficiently and deploy and the

Tim Lugo

you it in Is hitting still XXX? point toggled can efficacy to are that. some it topical, assume why I the data you on or confidence pre-clinical soft just the programs? a between there’s than have review for obviously, And the of the X-X-X kind kind should better similar And Okay. subtypes of that fashion relatively

Neal Walker

good question. Yes,

the we ballpark selective and is is a but very of feel the mentioned less bit of as XXX So potency perhaps the the X/X we potency X in little for well itch. not very, both versus there, programs, the JAK had also selectivity for before soft-JAK on very of we basis both on the mechanistic oral programs from know the JAK but anti-inflammatory about inhibitors our good across – work just and side and that other the topical

is a, on produced than would and that perspective a refer has better I a numerically look, solution front for a XX.X% rate, what had a response else that this topical we And really as sub-optimal drove from to study we anybody time. in long

to So atopic have this very think be props a you value want makes of And drug approach confident mentioned I the as mechanistically of want one that before, we’re in dermatitis you sense. the I’ve lot and sense. having to makes safe soft quite is

sense – also in can utility a a moderate moderate to use think it topical I to to in severe. And of patients as also which patients severe it with lot certainly in use complementary it those more makes to systemic disease, worked the and mild in therapy be to target you therapy

Tim Lugo

one Understood. that Thanks last for maybe And clarity. question.

to SKU, a separate always separate the ahead as that’s project, price been warts Looking data packaging discussed separate distribution.

the – be obviously during strategic available us for ESKATA, will I under However, review, assume.

a on product interested interested product, maybe of So obviously also ESKATA still be warts they competition taking would one in company once in market? the obviously ready-made have would which kind less in the

Neal Walker

Yes, I fair think point. a that’s

I if very something that reasonable scenario, to that’s do. that’s have think a we

Tim Lugo

Okay. question. Thank for you the

Operator

And further queue questions no the Thank you. time. this in showing at I’m

is now Chief or comments any conference pleasure it remarks. to over back and Officer Dr. closing President to hand Neal Walker, the So, my Executive for

Neal Walker

Thanks to the Good we to the again forward updating with night. for weeks. make you everybody coming joining look tonight. us in And we call as progress

Operator

gentlemen, Everybody, participation conclude This we and conference. wonderful a have may day. today’s disconnect. and on does for program Ladies your you our thank all

Aclaris Therapeutics (ACRS) 9 Aug 192019 Q2 Earnings call transcript