02:48 PM EDT, 03/20/2024 (MT Newswires) -- Acelyrin ( SLRN ) shares were up more than 2% in recent Wednesday trading after the company said an ongoing phase 1/2 trial of lonigutamab in thyroid eye disease showed rapid improvements in proptosis, or bulging eyes, and clinical activity score within three weeks after the first dose.

"These results are the first reported clinical data for the anti-IGF-1R mechanism delivered subcutaneously and demonstrating clinical benefit in thyroid eye disease patients," said CEO Shao-Lee Lin.

With proof of concept achieved in Cohort 1, and Cohort 2 further validating these results, a phase 2b/3 trial is planned to be initiated in the second half of 2024, the company said.

Price: 8.18, Change: +0.22, Percent Change: +2.76