The latest announcement is out from ACELYRIN, INC. (SLRN).
In a strategic shift, a company has decided to halt investment in the development of izokibep for several medical conditions, focusing instead on its lonigutamab program for thyroid eye disease. This move will result in a 33% reduction of the workforce, affecting about 40 employees, and is expected to incur $4.5 million in severance-related expenses, primarily in the third quarter of 2024. Additionally, the company’s COO, Melanie Gloria, will depart, receiving severance benefits including a year’s salary, bonus, health coverage, and stock-related benefits. The financial implications of these changes are yet to be fully determined, as future charges related to the restructuring are still being analyzed.
Learn more about SLRN stock on TipRanks’ Stock Analysis page.
