Aclaris Therapeutics is a clinical-stage biopharmaceutical company focused on developing drug candidates for immuno-inflammatory diseases, including atopic dermatitis, asthma, and related chronic inflammatory disorders. Aclaris has no approved products and generates no commercial revenue. Rather than commercializing drugs itself, Aclaris develops pipeline assets to clinical proof-of-concept, then seeks to out-license or partner with larger pharma or biotech companies, who take on further development, regulatory approval, and commercialization. Aclaris funds operations through capital raises and expects to earn upfront licensing fees, development and regulatory milestones, and royalties on net sales from future partners. The pipeline includes three clinical-stage candidates: bosakitug (ATI-045), an anti-TSLP monoclonal antibody licensed from Biosion currently in Phase 2 trials for atopic dermatitis; ATI-2138, an oral dual ITK/JAK3 inhibitor developed in-house that met primary endpoints in a Phase 2a atopic dermatitis trial; and ATI-052, a bispecific antibody targeting both TSLP and IL-4Rα with a potential once-quarterly dosing schedule, currently in Phase 1b trials. Aclaris also has earlier-stage assets, including ATI-9494, a JAK-sparing ITK inhibitor, and lepzacitinib, a topical JAK 1/3 inhibitor for which Aclaris is seeking a partner. Aclaris has no manufacturing facilities and relies entirely on contract manufacturers for clinical supply.