Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises ACELYRIN, Inc. (NASDAQ: SLRN) investors that a lawsuit filed on behalf of investors that purchased ACELYRIN between May 4, 2023 and September 11, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
ACELYRIN is a clinical biopharmaceutical company with a primary focus on developing and bringing transformative medicines to market. The ACELYRIN class action lawsuit centers on ACELYRIN's lead product candidate, izokibep, which was undergoing Part B of a Phase 2b/3 clinical trial for the treatment of moderate to severe Hidradenitis Suppurativa ("HS").
The allegations in the ACELYRIN class action lawsuit revolve around the assertion that the defendants, over the Class Period, either made false and/or misleading statements or failed to disclose critical information, which include:
- The claim that izokibep's effectiveness in treating HS was less significant than what the defendants had led investors to believe.
- Consequently, ACELYRIN had overstated the clinical and/or commercial prospects of izokibep.
- As a result, ACELYRIN had also exaggerated its business prospects following its initial public offering.
Furthermore, the ACELYRIN class action lawsuit states that on September 11, 2023, ACELYRIN made a disappointing announcement concerning the top-line results from Part B of the Phase 2b/3 trial evaluating izokibep for the treatment of moderate-to-severe HS. Specifically, it was alleged that izokibep failed to demonstrate a statistically significant reduction in abscesses and inflammatory nodules in patients when compared to the placebo. In response to this news, the price of ACELYRIN stock experienced a substantial decline of more than 61% over the course of two trading sessions.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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