An investigation on behalf of investors in Acelyrin, Inc. (NASDAQ:SLRN) shares over potential wrongdoing at Acelyrin, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/31/2023 -- Certain directors of Acelyrin, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Acelyrin, Inc. (NASDAQ: SLRN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Acelyrin, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Agoura Hills, CA based Acelyrin, Inc., a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines.
On or around May 5, 2023, Acelyrin, Inc conducted its initial public offering ("IPO"), selling 30 million shares of common stock priced at $18.00 per share.
Then, on September 11, 2023, after the markets closed, Acelyrin, Inc announced disappointing top-line results from Part B of the Phase 2b/3 trial evaluating izokibep, the Company's lead drug candidate, for the treatment of moderate-to-severe hidradenitis suppurativa. Specifically, izokibep failed to show statistically significant reduction in abscesses and inflammatory nodules in patients as compared to placebo.
Shares of Acelyrin, Inc. (NASDAQ: SLRN) declined from as high as $29.88 per share on August 23, 2023, to as low as $9.19 per share on September 21, 2023.
Those who purchased shares of Acelyrin, Inc. (NASDAQ: SLRN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.