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ACELYRIN INC. (SLRN+9.36%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing lonigutamab, a monoclonal antibody for Thyroid Eye Disease (TED). ACELYRIN reported interim data from its Phase 1/2 trial, showing improvements in TED symptoms.
In February 2025, ACELYRIN entered a merger agreement with Alumis Inc., delaying the initiation of its Phase 3 LONGITUDE program for lonigutamab.
ACELYRIN implemented a restructuring plan in August 2024, suspending internal investment in the development of izokibep for certain indications and focusing on lonigutamab.
The company reported a net loss of $248.2 million for 2024, a decrease from the $381.6 million loss in 2023, attributed to lower license fees and acquired in-process research and development expenses.
ACELYRIN's total operating expenses for 2024 were $316.3 million, down from $422.1 million in 2023, primarily due to reduced research and development costs.
As of December 31, 2024, ACELYRIN had $448.4 million in cash, cash equivalents, and short-term marketable securities, sufficient to fund operations for at least the next 12 months.
The company acknowledges the impact of macroeconomic trends and geopolitical instability on its operations and financial performance.
ACELYRIN plans to continue developing its product candidates and anticipates substantial expenses as it advances its pipeline and prepares for potential commercialization.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ACELYRIN INC. annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.