Aclaris rises after securing rights to two experimental immunology drugs

Aclaris Therapeutics

18/11/2024 15:53

** Shares of drug developer Aclaris Therapeutics  ACRS.O 
rises 15.2% to $2.36
    ** ACRS signs deal with Biosion Inc for global rights of two
experimental antibody drugs, BSI-045B and BSI-502, to boost co's
immunology pipeline
    ** Deal excludes Greater China market
    ** ACRS also names Hugh Davis as president and chief
operating officer; Davis had previously worked at Biosion, GSK
and J&J, among other companies
    ** Separately, ACRS says it will raise about $80 mln through
private placement of  more than 35 mln shares at $2.25 each, a
premium of nearly 10% to last close
    ** All seven brokerages rate the stock "hold"; their median
PT is $3 - LSEG
    ** Stock has risen 125.8% YTD, including session gains

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))