ACRS - Why Aclaris Therapeutics Topped the Market on Tuesday
2023-06-13 18:30:31 ET
Biotech investors like it when one of their companies reports gains in a developmental program, and that was the dynamic behind Tuesday's rise in the share price of Aclaris Therapeutics (NASDAQ: ACRS) . The company's stock gained 2.5% in value on the day, a figure that trumped the 0.7% increase of the S&P 500 index.
That morning, Aclaris announced that it has completed enrollment for a phase 2b clinical trial of its rheumatoid arthritis (RA) drug zunsemetinib. This targets moderate to severe cases of the affliction, which is a chronic inflammatory disorder that affects the body's joints and can spread to other parts.
The trial will take the form of a randomized, double-blind, and placebo-controlled study to test the efficacy and safety of zunsemetinib, which is administered orally. All told, 251 patients have been enrolled and will be tested at more than 20 trial sites in the U.S. and Europe.
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Why Aclaris Therapeutics Topped the Market on Tuesday