Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Q3 2018 Earnings Conference Call - Final Transcript

Nov 06, 2018 • 05:00 pm ET


Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Q3 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Q3 2018 Aclaris Therapeutics Incorporated Earnings Conference Call.

(Operator Instructions) As a reminder, today's conference is being recorded.

I would now like to turn the call over to Kamil Ali-Jackson, Chief Legal Officer. You may begin.

Kamil Ali-Jackson

Thank you. I'm Kamil Ali-Jackson, Chief Legal Officer for Aclaris. Please note that earlier today Aclaris issued its press release announcing third quarter 2018 financial results. For those of you who've not yet seen it, you will find the release posted in the Investor section of our website at

Joining me for the call today are Dr. Neal Walker, President and CEO; Dr. Stuart Shanler, our Chief Scientific Officer; Frank Ruffo, our CFO; Brett Fair, our Chief Commercial Officer; and David Gordon, our Chief Medical Officer.

(Forward-Looking Cautionary Statements)

Please be advised that today's call is being recorded and webcast. A link to the webcast is posted in the Investors section of our website.

I'll now turn the call over to Dr. Neal Walker, President and CEO of Aclaris. Neal?

Neal Walker

Thank you, Kamil. Good evening, everyone, and thank you for joining us this evening. I'll start with a brief update on our business highlights and then touch on a few of our clinical development programs. Then I'll hand it off to Stuart Shanler, our Chief Scientific Officer, who will review our Clinical development plans and time lines. Brett Fair, our Chief Commercial Officer will then address our commercial business, after which Frank Ruffo, our CFO, will review our financial results.

Following our prepared remarks, we will open up the line to take your questions. Dr. David Gordon, our Chief Medical Officer, will also be available during the Q&A portion of the call.

As previously announced in October, Aclaris entered into a definitive asset purchase agreement with Allergan to acquire worldwide rights to RHOFADE, which is oxymetazoline hydrochloride cream, 1%.

As a reminder, RHOFADE is approved in the United States for the topical treatment of persistent facial erythema or redness, associated with rosacea in adults, and can be used in conjunction with many other medications, which are approved to treat the papules and pustules associated with rosacea.

Initially launched by Allergan in May 2017, RHOFADE was established as the leading medical treatment option for the erythema rosacea. This is an important unmet need in dermatology and is typical of the indications we prefer to pursue late-stage opportunities with no approved therapies or very limited therapeutic options.

The National Rosacea Society estimates that approximately 16 million Americans are affected by rosacea. Persistent facial redness is the most common sign of rosacea affecting 68% of rosacea patients according to a survey conducted by the same society.

It is important to note that pharmacologic agents currently approved by the US FDA with the treatment of papules and pustules of rosacea have little to no effect on persistent facial redness, making RHOFADE an important addition to the armamentarium of physicians treating rosacea more holistically.

In addition to the attractive market