Aclaris los­es 85% of share val­ue af­ter an­oth­er PhII set­back in in­flam­ma­to­ry con­di­tion

Aclaris Ther­a­peu­tics’ lead drug has failed an­oth­er mid-stage test, mark­ing the biotech’s sec­ond ma­jor set­back this year and the au­toim­mune treat­ment’s fi­nal shot in the clin­ic as fur­ther de­vel­op­ment will be scrapped.

In re­ac­tion, in­vestors wiped about 85% off the com­pa­ny’s share price $ACRS be­fore Mon­day’s open­ing bell. CEO Doug Man­ion told an­a­lysts the da­ta made it “abun­dant­ly clear that ATI-450 is not ac­tive” in rheuma­toid arthri­tis.

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