BUZZ-Acelyrin falls after eye drug fails in study, CFO resigns

Reuters12-11
BUZZ-Acelyrin falls after eye drug fails in study, CFO resigns

** Shares of drug developer Acelyrin Inc SLRN.O fall 16.5% to $3.38 after the bell

** SLRN says its experimental drug zokibep failed to meet the main goal of a mid-to-late stage study for patients with uveitis, a type of eye inflammation

** Adds co will not make any additional internal investment in developing izokibep

** Will focus on developing its other drug lonigutamab for thyroid eye disease

** Separately, CFO Gil Labrucherie has notified co of his intention to resign, effective Jan. 2, 2025, to pursue an external opportunity, filing shows

** Up to last close, stock down ~45% YTD

(Reporting by Sriparna Roy in Bengaluru)

((Sriparna.Roy@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment