Acelyrin (NASDAQ:SLRN) stock is falling hard on Tuesday after the biopharma company announced clinical trial results.
That bad news for investors in SLRN stock comes from the company’s Part B of a Phase 2b/3 trial evaluating izokibep. The company was testing the effectiveness of izokibep as a treatment for moderate-to-severe HS.
Unfortunately for Acelyrin, the clinical trial failed its primary endpoint of statistical significance after 16 weeks. That’s despite positive response rates for izokibep and no evidence of safety or tolerability limitations.
Shao-Lee Lin, MD, PhD, founder and CEO of Acelyrin, said the following about these clinical trial results:
“The consistent and early achievement of HiSCR100, along with our prior izokibep experience in Psoriatic Arthritis, continues to demonstrate the potential of izokibep for resolution of disease, especially in difficult to treat tissues.”
How This Affects SLRN Stock Today
SLRN stock falling today makes sense when you consider the company’s poor clinical trial results. Investors are no doubt unhappy with today’s news, and that’s being reflected in the price of SLRN shares. However, it is worth noting that today’s clinical trial results aren’t causing heavy trading of SLRN this morning.
SLRN stock is down 58.2% as of Tuesday morning.
Investors can find more of the latest stock market news worth checking out today down below!
We’ve got all of the most recent stock market news that traders need to know about on Tuesday! A few examples include why shares of Ascent Solar Technologies (NASDAQ:ASTI) and AgileThought (NASDAQ:AGIL) stock are up today, as well as the biggest pre-market stock movers this morning. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
