H.C. Wainwright analyst Emily Bodnar lowered the firm’s price target on Acelyrin to $30 from $44 and keeps a Buy rating on the shares after the company announced topline data from the Phase 2b/3 Part B study of izokibep for treatment of moderate- to- severe hidradenitis suppurativa. The study did not meet the primary endpoint as high placebo rates and high discontinuation rates impacted HiSCR responses, the analyst tells investors in a research note. The firm views this as a setback, but is still confident in the second Phase 3 study being positive.
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