05:47 PM EDT, 07/16/2024 (MT Newswires) -- Aclaris Therapeutics ( ACRS ) said Tuesday it sold a portion of future royalty payments and certain milestones from Eli Lilly ( LLY ) on net sales of Olumiant for the treatment of alopecia areata to OMERS, a major defined benefit pension plan in Canada.

Aclaris said it has received an upfront payment of $26.5 million, and is eligible to receive up to an additional $5.0 million based on the achievement of certain sales milestones in 2024.

"This transaction bolsters our balance sheet and provides us with enhanced financial flexibility to pursue a range of value-creating opportunities while continuing to invest in our internal programs," said Neal Walker, interim president & CEO.

Aclaris shares were up more than 10% in after-hours activity.

Price: 1.4800, Change: +0.14, Percent Change: +10.45