Aclaris spikes after leadership change, strategic review

Just_Super/iStock via Getty Images Aclaris Therapeutics ( NASDAQ: ACRS ) traded ~15% higher premarket Tuesday after announcing its plans to begin a strategic review with the departure of its CEO, Douglas Manion. Accordingly, Manion will resign from his position as CEO, President, and member of the Board of Directors, effective immediately, the company said.

Chairman Neal Walker, who co founded the Wayne, Pennsylvania based pharma company, will take over its leadership as interim CEO. Walker previously served as company CEO until 2022 and was part of its board since the beginning. “As the company looks to reset in 2024, we agreed that the timing was right for this transition,” he remarked.

Concurrently, Aclaris ( ACRS ) announced a strategic review of the business to maximize shareholder value. Based on preliminary financials, the company also reported ~$182M worth of cash, cash equivalents, and marketable securities as of Dec. 31. More on Aclaris Therapeutics Stocks To Watch: Nvidia, Lowe's, Deere And Best Buy Line Up To Report Aclaris draws second downgrade despite Phase 2 win for eczema therapy Aclaris downgraded at Jefferies despite mid stage win for eczema therapy Seeking Alpha’s Quant Rating on Aclaris Therapeutics Historical earnings data for Aclaris Therapeutics.