Aclaris Therapeutics Inc 2025年季度报告

PAGE PART I. FINANCIAL INFORMATION Item 1. Financial Statements Item 1. Financial Statements (Unaudited)(In thousands, except share and per share data) AssetsCurrent assets:Cash and cash equivalents$30,357$24,570Short-term marketable securities74,95789,024Accounts receivable, net250318Prepaid expenses and other current assets3,22612,039Total current assets108,790125,951Marketable securities85,21190,302Property and equipment, net9421,008Other assets3,1513,066Total assets$198,094$220,327Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$6,354$4,690Accrued expenses8,57220,333Deferred income3,8883,890Other current liabilities2,7002,683Total current liabilities21,51431,596Other liabilities4,3084,439Deferred income, net of current portion19,20620,038Contingent consideration9,0008,700Total liabilities54,02864,773Stockholders’ Equity:Preferred stock, $0.00001par value;10,000,000shares authorized andnoshares issued or outstanding at March31,2025 and (In thousands) 1. Organization and Nature of Business Report. There have been no changes to the Company’s existing significant accounting policies fromthose disclosed in the Annual Report. TheCompany records a contingent consideration liability related to future potentialpayments resulting from the acquisition of Confluence Life Sciences, Inc. (now known as Aclaris LifeSciences,Inc.)(“Confluence”)based upon significant unobservable inputs including theachievement of regulatory and commercial milestones, as well as estimated future sales levels and the discount rates applied to calculate the present value of the potential payments. Significant judgementisinvolved in determining the appropriateness of these assumptions.These assumptions are changes to one or more of these assumptions. The Company evaluates the fair value estimate of thecontingent consideration liability on a quarterly basis with changes, if any, recorded as income orexpense in the condensed consolidated statement of operations and comprehensive loss.Thefair value of contingent consideration is estimated using a probability-weighted commercialization, which are based on an asset’s current stage of development and a review ofexisting clinical data. Probability of successassumptions ranged between17% and40% at March 31, 2025. Additionally, estimated future sales levels and the risk-adjusted discount rate applied to thepotential payments are also significant assumptions used in calculating the fair value. The discountrate ranged between7.3% and8.8% dependingon the year of each potential payment.Revenue RecognitionThe Company accounts for revenue in accordance with ASC Topic 606, Revenue from performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify theperformance obligations in the contract, (iii) determine the transaction price, (iv) allocate thetransaction price to the performance obligations in the contract, and (v) recognize revenue when (oras) performance obligations are satisfied.At contract inception, the Company assesses the goods orservices promised within a contract with a customer to identify the performance obligations, and todetermine if they are distinct. The Company recognizes the revenue that is allocated to each distinct Contract Research RevenueThe Company earns contract research revenue from the provision of laboratory services.Contract research revenue is generally evidenced by contracts with clients which are on an agreed benefit from the license. Milestone and Royalty Payments– The Company considers any future potential milestones and sales-based royalties to be variable consideration.The Company recognizes revenuefrom development, regulatory and anniversary milestone payments as they are achieved. TheCompany recognizes revenue from commercial milestones and royalty payments as the sales occur.Deferred Income Related to the Sale of Future RoyaltiesTheCompany amortizes its deferred income liability related to the sale of futureOLUMIANT® (baricitinib) royalties under the units-of-revenue method by computing a ratio of theproceeds received to the total expected payments over the term of the royalty purchase agreement andthen applying that ratio to the period’s estimated cash payment (see Note 11). The amortization isbased on the Company’s current estimate of future royalty payments.Discontinued Operations categories in the notes to financial statements on an annual and interim basis. This ASU becomeseffective for annual periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. The Company is currently assessing the impactof this ASU. the impact of this ASU. 9 for-sale marketable securities by type of security was as follows: (In thousands) Corporate debt securities(1)$100,332$298$(56)$100,574 U.S. government and government agency debtsecurities(2) Total marketable securities$159,734$495$(61)$160,168(1)Included in Corporate debt securiti