Aclaris Therapeutics gains after H.C. Wainwright upgrades to 'buy'

Aclaris Therapeutics

23/12/2024 12:32

** Shares of drug developer Aclaris Therapeutics  ACRS.O 
rise 8.46% to $2.95 premarket
    ** H.C. Wainwright upgrades to buy from neutral with PT of
$20, in the wake of co's licensing agreement with privately held
Biosion 
    ** In Nov, co signed an agreement with Biosion for global
rights, excluding Greater China, of two experimental antibody
drugs, BSI-045B and BSI-502, to boost co's immunology pipeline
    ** Brokerage expects co to initiate multiple mid-stage
studies next year in the U.S.
    ** Says BSI-045B could reach the U.S. market in 2029 for
treatment of chronic asthma and in 2030 for treatment of atopic
dermatitis, with potential total peak annual sales of roughly
$9.8 billion
    ** Up to last close, stock up ~159% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))