HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages SLRN Investors Who Suffered Substantial Losses to Contact Firm’s Attorneys, Securities Fraud Class Action Filed
SAN FRANCISCO, Nov. 20, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Acelyrin, Inc. (NASDAQ: SLRN) investors who suffered substantial losses to submit your losses now.
Class Period: May 4, 2023 – Sept. 11, 2023
Lead Plaintiff Deadline: Jan. 16, 2024
Contact An Attorney Now: SLRN@hbsslaw.com
Acelyrin, Inc. (NASDAQ: SLRN) Securities Fraud Class Action:
The litigation focuses on Acelyrin’s disclosures about its lead product candidate (izokibep), intended to treat patients with moderate to severe Hidradenitis Suppurativa (“HS”).
During the Class Period, Acelyrin said that evidence “continues to support the hypothesis that the high potency and small molecular size of izokibep can lead to clinically meaningful, differentiated benefits for patients[.]”
The complaint alleges that Acelyrin mispresented and omitted to disclose that: (1) izokibep was less effective in treating HS than the company had led investors to believe; (2) accordingly, Acelyrin overstated izokibep’s clinical and/or commercial prospects; and (3) as a result, Acelyrin had overstated its business prospects.
Investors learned the truth on Sept. 11, 2023, when 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. The company said izokibep failed to show statistically significant reduction in abscesses and inflammatory nodules in patients as compared to placebo.
This news drove the price of Acelyrin shares plummeting $17.19 lower during the two trading days ended Sept. 13, 2023.
“We’re focused on investors’ losses and are investigating whether Acelyrin may have concealed data that did not support the hypothesized benefits of izokibep,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Acelyrin and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Acelyrin case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Acelyrin should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SLRN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Reed Kathrein, 844-916-0895
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