Acelyrin reports Q2 EPS (40c), consensus (81c)

Cash, cash equivalents and short-term marketable securities totaled $823M at June 30. The company expects these to fund operations through key value-driving milestones across all three clinical programs. “The first half of 2023 has been productive and rewarding as we marked a number of clinical and corporate milestones supporting our mission to identify, acquire and accelerate the development and commercialization of transformative medicines for patients,” said Shao-Lee Lin, founder and CEO of ACELYRIN. “From our successful initial public offering in May to our continued clinical progress across the portfolio including izokibep, lonigutamab and SLRN-517, we are aggressively executing against our plans for the potential to accelerate better treatment options for patients and value for shareholders. We’re very pleased to share today new data from Part A of the Phase 2b/3 trial of izokibep in Hidradenitis Suppurativa, or HS, demonstrating that the majority of patients are achieving improvements in the number of draining tunnels within the first month of therapy. The totality of evidence across our HS and Psoriatic Arthritis trial results continues to support the hypothesis that the high potency and small molecular size of izokibep can lead to clinically meaningful, differentiated benefits for patients, including resolution of important manifestations of each disease that otherwise lead to pain, disability and poorer overall quality of life.”