ACELYRIN Reports $55.3 Million Net Loss in Q1 2025 Amid Restructuring Efforts

ACELYRIN, Inc. reported a net loss of $55.3 million for the first quarter of 2025, a significant increase from the $35.0 million loss recorded in the same period of 2024. The company's total operating expenses decreased by 28% to $59.9 million, down from $82.8 million year-over-year, primarily due to reduced research and development costs, which fell to $42.1 million from $58.0 million. This reduction reflects the company's strategic decision to suspend new investments in certain product developments as part of a broader restructuring plan initiated in August 2024.

The company’s cash and cash equivalents, along with short-term marketable securities, totaled $411.1 million as of March 31, 2025, a decrease from $480.9 million at the end of 2024. This decline was attributed to cash used in operating activities, which amounted to $39.0 million for the quarter, compared to $57.3 million in the prior year. The decrease in cash used in operations was primarily due to a reduction in net loss and adjustments for non-cash items, including stock-based compensation and asset impairments.

In terms of operational developments, ACELYRIN has focused its efforts on the clinical program for lonigutamab, a monoclonal antibody targeting IGF-1R for the treatment of Thyroid Eye Disease (TED). The company announced plans to initiate a Phase 3 clinical trial for lonigutamab in the first quarter of 2025, although this has been delayed pending the completion of a merger agreement with Alumis Inc. The merger, which was approved by stockholders on May 13, 2025, is expected to close in the second quarter of 2025.

The restructuring plan implemented by ACELYRIN included a workforce reduction of approximately one-third of its staff, aimed at reallocating resources towards the lonigutamab program. The company also terminated its license agreement with Affibody for izokibep, ceasing further development in that area. As of March 31, 2025, the company had an accumulated deficit of $792.2 million, reflecting its ongoing investment in research and development without any revenue from product sales.

Looking ahead, ACELYRIN anticipates continued significant expenses and losses as it seeks to advance its product candidates through clinical trials and regulatory approvals. The company has indicated that its current cash reserves are expected to fund operations for at least the next 12 months, but it may need to raise additional capital to support its business plans, particularly in light of the uncertainties surrounding the merger and ongoing clinical development.