Investigation announced for Investors in shares of Acelyrin, Inc. (NASDAQ: SLRN) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Acelyrin, Inc.

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 highas $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:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.