Aclaris Therapeutics, Inc. filed an S-1 form with the Securities and Exchange Commission (SEC) for its initial public offering (IPO). There were no terms given for the filing but the offering is valued up to $86.25 million. The company intends to file on the NASDAQ Global Market under the symbol ACRS.

The underwriters for the offering are Jefferies, Citigroup, and William Blair.

This is a clinical-stage specialty pharmaceutical company focused on identifying, developing and commercializing innovative and differentiated topical drugs to address significant unmet needs in dermatology. The lead drug candidate, A-101, is a proprietary high-concentration hydrogen peroxide topical solution that we are developing as a prescription treatment for seborrheic keratosis (SK) a common non-malignant skin tumor.

The company has completed three phase 2 clinical trials of A-101 in over 300 patients with SK. In these trials, following one or two applications of A-101, Aclaris observed clinically relevant and statistically significant improvements in clearing SK lesions on the face, trunk and extremities of the body.

Aclaris plans to commence three phase 3 clinical trials of A-101 in patients with SK in the second half of 2015 and, if the results of these trials are favorable, to submit a New Drug Application (NDA) for A-101 for the treatment of SK to the U.S. Food and Drug Administration (FDA) in the second half of 2016. The company also intends to develop A-101 as a prescription treatment for common warts and A-102, a proprietary gel dosage form of hydrogen peroxide, as a prescription treatment for SK and common warts. In addition, it intends to in-license or acquire additional drug candidates for other dermatological conditions to build a fully integrated dermatology company.

In the filing Aclaris detailed that it would use the proceeds from the offering to complete its three planned phase 3 clinical trials and seek regulatory approval for A-101, as well as to fund the continued research and development of A-101. The remainder of the proceeds will go to fund other research and development activities, including the development of A-102 for the treatment of SK and common warts, as well as for working capital and other general corporate purposes

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