Acelyrin Inc shares slid as much as 11% in pre-market trading on Tuesday after the late-stage clinical biopharma company disclosed a programming error in its Phase 2b/3 drug trial for izokibep, a treatment for psoriatic arthritis.
Acelyrin said the protocol was programmed incorrectly by a vendor, "resulting in a sequencing error that went further unidentified through the providers’ testing processes."
The company noted, though, that it has addressed the error.
Acelyrin added that pending completion of the evaluation from the third-party auditor, it plans to report top-line data from its psoriatic arthritis trial in the first quarter of 2024.
Shares of Acelyrin have fallen 63% year to date as of Monday’s closing price.
Contact Sean at sean@proactiveinvestors.com