Aclaris Therapeutics Inc. (ACRS) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, ACRS scores 19 out of 100, a letter grade of E, labeled "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are:

• Fundamental Cash Engine (1 / 20): Per the RQD rating, ROIC is -35% and FCF yield is -8.04%. This is the weakest pillar and indicates the business is not currently generating returns on invested capital or free cash flow.
• Whale 13F Flow (6 / 20): The RQD rating references institutional accumulation and options positioning. The holders section is empty in the source data, so the specific ownership detail behind this score cannot be verified here.
• Insider Conviction (3 / 20): Per the RQD rating, SEC Form 4 and Congressional PTR cluster flow scored low. No insider transaction detail is provided in the source data.
• Macro Regime Fit (4 / 20): Per the RQD rating, beta is 1.0 with sector sensitivity noted. The market-level beta is not treated here as a timing signal.
• Forensic Balance Sheet (5 / 20): Per the RQD rating, Altman Z is 0.2, Piotroski F is 4/9, and Debt/Equity is 0.5. The Altman Z reading is in the distress range of the source's own scale, which is the core of the forensic concern.

For a prospective investor, the implication is that the score is driven primarily by weak cash generation and a stressed balance sheet rather than by valuation alone. Upside depends on a reversal in operating losses, which the reported financials do not yet show. The RQD output is an analytical screen from the provided data and is not personalized financial advice.

Per the SEC financials, revenue declined from $31.2M (FY 2023) to $7.8M (FY 2025), and each reported year shows an operating loss. Per the market data, gross margin is 73.3% while operating and net margins are both -60%, and ROIC is -35%. Per the RQD rating, the Altman Z-Score is 0.2 and the Piotroski F-Score is 4/9. Per the market data, Debt/Equity is 0.5, though the debt line in the financials is N/A for every period.

• Equity financing: Multiple headlines report a $50.0 Million offering of common stock and pre-funded warrants, appearing across the Yahoo Finance and Quiver Quantitative items. This is a dilution-relevant event flagged as a market-wire item.
• Clinical data: A Seeking Alpha item references ATI-052 proof-of-concept results in atopic dermatitis and asthma, dated 2026-10-29. The results themselves are not in the source data.
• Analyst action: A TradingView item reports Wedbush maintaining an Outperform rating with an $8 price target, flagged as a CATALYST.
• Sentiment: A Globe and Mail item covers conflicting analyst sentiment on ACRS among other healthcare names.

Per the Butterfly Supply-Chain Graph, the supply chain is NONE, with no butterfly links and no proprietary signals.

• What products or pipeline assets generate the $7.8M of FY 2025 revenue, and what drove the decline from $31.2M in FY 2023?
• What are the debt and cash balances in the financials, given that debt is N/A for every period while Debt/Equity is listed as 0.5?
• What is the size and terms of the $50.0 Million offering, and how much dilution does it imply at the current $3.99 price?
• What do the ATI-052 proof-of-concept results show, and how do they relate to the company's cash runway?
• Who are the institutional holders and insiders behind the whale and insider pillar scores?