Aclaris Therapeutics Inc. ACRS shares,
skyrocketed by more than 200% towards a 2 and a half year high volume peak in Tuesday’s midday trade after the biopharmaceutical company announced “positive” data from a Phase 2a trial of its treatment for rheumatoid arthritis. The stock rose 211.1%, putting it on the road to the biggest close since July 2018, to keep up with all winners on major U.S. exchanges. Turnover soared to 79.7 million shares, compared to the full-day average of around 859,000 shares. The company said the Phase 2a multicenter trial was randomized, patient-blind, sponsor-blind and placebo-controlled, and the primary endpoint was the safety and tolerability of ATI-450, an experimental oral MK2 inhibitor. In the trial, the company said that the ATI-450 was generally well tolerated, showed no serious adverse events and demonstrated durable clinical activity. Aclaris medical director David Gordon said he believes the data supports the hypothesis that MK2 inhibition is an important new target for the treatment of immune-inflammatory diseases, and he hopes to progress ATI-450 to Phase 2b. The stock has soared more than four times (up 305.5%) in the past three months, while iShares Nasdaq Biotechnology ETF IBB,
rose 19.4% and the S&P 500 SPX,
gained 10.6%.
