Aclaris Therapeutics, Inc. — Director's Dealing 2016

Jan 20, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Aclaris Therapeutics, Inc. (ACRS)
CIK: 0001557746
Period of Report: 2016-01-15

Reporting Person: RA CAPITAL MANAGEMENT, LLC (10% Owner)
Reporting Person: Kolchinsky Peter (10% Owner)
Reporting Person: RA Capital Healthcare Fund LP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-15	Common Stock	P	1800	$19.8572	Acquired	2581990	Indirect
2016-01-19	Common Stock	P	4200	$19.8763	Acquired	2586190	Indirect
2016-01-20	Common Stock	P	1803	$19.883	Acquired	2587993	Indirect

Footnotes

F1: RA Capital Management, LLC (the "Adviser") and Peter Kolchinsky disclaim beneficial ownership of the reported securities for purposes of Rule 16a-1(a)(1) under the Securities Exchange Act of 1934 (the "Exchange Act") in reliance on Rule 16a-1(a)(1)(v) and (vii), respectively, and, therefore, disclaim any obligation to report ownership of or transactions in the reported securities under Section 16a of the Exchange Act. The filing of this Form 4 shall not be construed as an admission that either the Adviser or Mr. Kolchinsky is or was, for purposes of Section 16 of the Exchange Act, the beneficial owner of any of the securities reported herein.

F2: The reported securities are owned by RA Capital Healthcare Fund, L.P. (the "Fund") and an account owned by Blackwell Partners, LLC - Series A (the "Blackwell Account"). Following the reported transactions, the Fund held 2,166,552 shares and the Blackwell Account held 421,441 shares. The Adviser is the general partner of the Fund and the investment adviser of the Blackwell Account. Mr. Kolchinsky is the sole manager of the Adviser. In their respective capacities, each of Mr. Kolchinsky and the Adviser may be deemed to beneficially own the reported securities for purposes of Section 13(d) of the Exchange Act.