• Acelyrin focuses on lonigutamab for Thyroid Eye Disease (TED) after promising Phase 1/2 results, with Phase 3 trials expected to begin in Q1 2025.
• Lonigutamab shows advantages over anti-IGF-1R therapies, including no hyperglycemia, lower Cmax for reduced hearing loss risk, and higher potency at lower doses.
• Acelyrin halts izokibep development for Hidradenitis Suppurativa (HS) and Psoriatic Arthritis (PsA), and reduces workforce by 33% to streamline operations.
• Piper Sandler maintains an Overweight rating with a $20.00 price target for Acelyrin, citing lonigutamab's potential and validated anti-IGF-1R mechanism.