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ACELYRIN, INC. Announces Positive Phase 3 Data for Izokibep in Hidradenitis Suppurativa; Focuses Strategy on Lonigutamab and Reports Second Quarter 2024 Financial Results
ACELYRIN, INC. (Nasdaq: SLRN) announced positive Phase 3 data for izokibep in Hidradenitis Suppurativa, meeting the primary endpoint of HiSCR75 at 12 weeks. The company is refocusing its strategy to prioritize lonigutamab development for thyroid eye disease, with plans to initiate a Phase 3 program in Q1 2025. ACELYRIN reported $635.2 million in cash and equivalents as of June 30, 2024, projecting a cash runway extension to mid-2027.
Key financial highlights for Q2 2024 include R&D expenses of $76.4 million and G&A expenses of $16.6 million. The company reported a net loss of $85.7 million for the quarter. ACELYRIN is implementing a 33% workforce reduction as part of its strategic shift and pipeline reprioritization.
Key financial highlights for Q2 2024 include R&D expenses of $76.4 million and G&A expenses of $16.6 million. The company reported a net loss of $85.7 million for the quarter. ACELYRIN is implementing a 33% workforce reduction as part of its strategic shift and pipeline reprioritization.
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