Kaskela Law LLC is investigating Acelyrin, Inc. (NASDAQ: SLRN) on behalf of the company’s long-term shareholders.

Acelyrin is a clinical-stage biopharmaceutical company focused on developing transformative medicines for immunological diseases. The Company’s lead product candidate, izokibep, is a novel antibody designed to treat hidradenitis suppurativa (HS), a chronic and debilitating inflammatory skin condition, along with other immunological disorders such as psoriatic arthritis, axial spondyloarthritis, and uveitis.

Recently a securities fraud complaint was filed against Acelyrin on behalf of certain investors who purchased shares of the company’s stock between May 4, 2023, and September 11, 2023 (the “Class Period”).  According to the complaint, during the Class Period Acelyrin and several of the company’s senior executive officers made a series of materially false and misleading statements to investors regarding the clinical trials and efficacy of izokibep, which in turn overstated izokibep’s clinical and commercial prospects to the market. Specifically, the defendants are alleged to have failed to disclose that the methodologies used in Parts A and B of the HS trials obscured the impact of high discontinuation rates in Part B of the Phase 2b/3 clinical trial of izokibep, seriously compromising the integrity and results of the trial.

As further detailed in the complaint, the truth began to emerge on September 11, 2023, when Acelyrin announced disappointing top-line results from Part B of the Phase 2b/3 trial of izokibep in HS patients. The company disclosed that the trial failed to meet its primary endpoint, largely due to unexpectedly high discontinuation rates among trial participants. On this news, Acelyrin’s stock price fell $17.19 per share, or 61.61%, over the following two trading sessions, causing significant losses and damages to investors.

The investigation seeks to determine whether the members of Acelyrin’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

Acelyrin shareholders who purchased or acquired SLRN shares prior to September 11, 2023 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750