Wed, Nov 13, 9:04 PM (127 days ago)
**Summary of Acelyrin, Inc. (SLRN) Q3 2024 Financial Performance** For Q3 2024, Acelyrin, Inc. reported a significant decrease in operating expenses to $54.7 million, down 42% from $94.4 million in Q3 2023. This decline was primarily due to reduced research and development costs, which fell 58% to $31.6 million, reflecting a strategic shift following the company's restructuring plan that suspended internal investments in izokibep for certain indications. General and administrative expenses also decreased by 38% to $12.3 million. The net loss for the quarter was $48.5 million, a 42% improvement from $83.9 million in the prior year. The company generated $7.5 million in interest income, down 28% year-over-year, while other income increased significantly to $36.2 million, driven by a one-time vendor arrangement. Acelyrin's cash, cash equivalents, and short-term marketable securities totaled $562.9 million as of September 30, 2024, providing a runway for at least 12 months. The restructuring plan aims to focus on the lonigutamab program for thyroid eye disease, but uncertainties remain regarding future financing needs and market acceptance of their product candidates.