ACELYRIN INVESTOR DEADLINE APPROACHING
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding
If you suffered losses exceeding
There is no cost or obligation to you.
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As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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, the Company's public statements were materially false and misleading at all relevant times.
On April 13, 2023, Acelyrin filed a registration statement on Form S-1 with the United States Securities and Exchange Commission ("SEC") in connection with the Company's Initial Public Offering ("IPO"), which, after several amendments, was declared effective by the SEC on May 4, 2023 (the "Registration Statement").
On May 4, 2023, pursuant to the Registration Statement, Acelyrin's common stock began publicly trading on the Nasdaq Global Select Market under the trading symbol "SLRN".
On May 5, 2023, Acelyrin filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (collectively with the Registration Statement, the "Offering Documents").
Pursuant to the Offering Documents, Acelyrin issued 30 million shares of its common stock to the public at the Offering price of
On September 11, 2023, after the markets closed, Acelyrin announced disappointing top-line results from Part B of the Phase 2b/3 trial evaluating izokibep for the treatment of moderate-to-severe HS. Specifically, izokibep failed to show statistically significant reduction in abscesses and inflammatory nodules in patients as compared to placebo.
On this news, Acelyrin's stock price fell
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Acelyrin's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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SOURCE Faruqi & Faruqi, LLP
