Aclaris Therapeutics falls after delay on skin disease drug data
** Shares of Aclaris Therapeutics ACRS.O fall 14.6% to $0.87 in morning trade
** Late Tuesday, co said it will now report mid-stage study data on its experimental drug ATI-1777 evaluating it as a potential treatment for a skin disease in January vs previous expectations of year-end
** Co also said it was assessing the path to developing its other experimental skin disease drug ATI-2138 due to "the evolving competitive landscape within ulcerative colitis"
** Separately, co approved a plan to reduce its workforce by approximately 46%; it had 105 employees as of Dec last year
** Drug developer expects the reduction to begin immediately and to be complete by June 30, 2024
** Stock has fallen ~80% since Nov 13 as ACRS discontinued development of another drug candidate ATI-450 in rheumatoid arthritis after it failed to meet its primary or secondary goals in a mid-stage trial
** Including session's loss, stock down 94.6% YTD
Reporting by Puyaan Singh
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