Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Q4 2019 Earnings Conference Call - Final Transcript

Feb 25, 2020 • 05:00 pm ET


Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. And welcome to the Aclaris Therapeutics Fourth Quarter and Full Year 2019 Earnings and Business Update Call. At this time all participant lines are a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]

I'd now like to hand the conference to your speaker today, Kamil Ali-Jackson, Chief Legal Officer. Please go ahead.

Kamil Ali-Jackson, Esq.

Thank you, Victor. I'm Kamil Ali-Jackson, Chief Legal Officer for Aclaris. Please note that earlier today Aclaris issued its press release announcing fourth quarter and full year 2019 results. For those of you who have not yet seen it, you will find the release posted in the Investor section of our website at

Joining me today for the call are Dr. Neal Walker, President and Chief Executive Officer; Frank Ruffo, our Chief Financial Officer; David Gordon, our Chief Medical Officer; and Joe Monahan, our Executive Vice President, Research and Development.

Before we begin our prepared remarks, I would like to remind you that various statements we make during this call about the company's future results of operations and financial position, business strategy, and plans and objectives for Aclaris' future operations are considered forward-looking statements within the meaning of the federal securities laws. Our forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties that could cause actual results to differ materially from those reflected in such statements. These risks are described in the Risk Factors and management discussion and analysis of financial condition, and results of operations section of Aclaris' Form 10-K for the year ended December 31, 2019 filed earlier today, and other filings Aclaris makes with the SEC from time to time. These documents are available under the SEC filings section of the Investors page of Aclaris' website at

All of the information we provide on this conference call is provided as of today, and we undertake no obligation to update any forward-looking statements we may make on this call on account of new information, future events or otherwise. Please be advised that today's call is being recorded and webcast. A link to the webcast is posted in the Investor section of our website.

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

Neal Walker

Thank you, Kamil and thank you everyone for joining us on our fourth quarter earnings call this evening. 2019 was a transitional year in which we redefined our strategy and shifted our capital allocation to focus on our immuno-inflammatory pipeline. As a reminder, in 2019 we divested RHOFADE, retired all $30 million of our debt and made the strategic shift from a biopharmaceutical company focused only on dermatology, to one now focused on our core competency of developing kinase inhibitors for immuno-inflammatory diseases.

The fourth quarter was particularly productive. We reported positive results from the second of two pivotal Phase 3 trials from common warts. As a reminder both our Phase 3 studies in common warts