NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP is investigating potential claims on behalf of investors who purchased Acelyrin, Inc. (Nasdaq: SLRN) common stock (“Acelyrin” or the “Company”). Click Here to Join Investigation.
If you purchased Acelyrin common stock and would like to discuss this notice, your rights, or your interests please click here. You may also contact us by emailing jcampisi@kaplanfox.com or calling (212) 329-8571.
On May 4, 2023, Acelyrin, a clinical biopharma company, sold 30 million shares of its common stock at $18 per share in its initial public offering.
According to the Company’s Registration Statement and Prospectus filed with the U.S. Securities and Exchange Commission (“SEC”) on Form 424(b)(4), the Company’s “lead product candidate is izokibep” and the Company was “conducting in the United States, Europe, and Canada a placebo-controlled, double-blind Phase 2b/3 trial of izokibep in PsA [psoriatic arthritis] with 160 mg delivered SC QW or Q2W, or 80 mg every four weeks (Q4W).”
On November 27, 2023, after the close of trading, Acelyrin issued a press release titled “ACELYRIN, INC. Provides Update on Izokibep Clinical Development Program” concerning “its ongoing global Phase 2b/3 trial for izokibep in psoriatic arthritis (“PsA trial”).”
The Company’s press release stated, in part, that “ACELYRIN’s team recently identified clinical trial execution errors involving its CRO and one of the vendors engaged by the CRO. ACELYRIN has confirmed that the protocol, which outlined dosing sequence, was correct. However, ACELYRIN’s protocol was programmed incorrectly by the vendor, resulting in a sequencing error that went further unidentified through the providers’ testing processes. As a result, some patients in the 160mg Q2W and 80mg Q4W arms received placebo and active treatment in random order rather than in an alternating pattern as intended. . . .”
On November 28, 2023, the price of the Company’s shares declined by over 32% in midday trading from a closing price of $8.70 per share on November 27, 2023 to under $6 per share on November 28, 2023.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in complex litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this notice, your rights, or your interests, please contact:
Jeffrey P. Campisi, Esq.
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
E-mail: jcampisi@kaplanfox.com
Laurence D. King, Esq.
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
