Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of ACELYRIN, Inc. (SLRN) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired ACELYRIN, Inc. (“Acelyrin” or the “Company”) (NASDAQ: SLRN) securities between May 4, 2023 and September 11, 2023, inclusive (the “Class Period”). Acelyrin investors have until January 16, 2024 to file a lead plaintiff motion.

If you suffered a loss on your Acelyrin investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Acelyrin-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

In May 2023, Acelyrin conducted its initial public offering (“IPO”), selling 30 million shares of common stock at $18 per share.

On September 11, 2023, after the markets closed, Acelyrin announced top-line results from Part B of a Phase 2b/3 trial of its Hidradenitis Suppurativa (HS) treatment, izokibep. Disclosing that izokibep “did not meet statistical significance” in the reduction in abscesses and inflammatory nodules in patients as compared to placebo.

On this news, Acelyrin's stock price fell $17.19, or 61.6%, over the next two consecutive trading days, to close at $10.71 per share on September 13, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) izokibep was less effective in treating HS than Defendants had led investors to believe; (2) accordingly, Acelyrin overstated izokibep’s clinical and/or commercial prospects; (3) as a result, Acelyrin also overstated the Company’s business prospects post-IPO; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Acelyrin securities during the Class Period, you may move the Court no later than January 16, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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