HW Wainwright Downgrades Aclaris Therapeutics After Underwhelming Study Data

HC Wainwright, an investment bank, has recently downgraded Aclaris Therapeutics (NASDAQ:ACRS) to a neutral rating. This decision comes in response to underwhelming data from a Phase 2 study involving the company’s drug ATI-1777, which was being evaluated for the treatment of atopic dermatitis, or AD.

According to the investment bank, while the study did achieve its primary endpoint with statistical significance, the once-daily treatment did not demonstrate statistically superior efficacy compared to the placebo. Furthermore, the difference in efficacy between the twice-daily treatment and the placebo was described as “relatively small.”

The bank expressed concern over the commercial viability of the drug, particularly within the context of the current competitive landscape for AD treatments. It did not assign a specific price target for the stock.