12 Best Biotech Penny Stocks To Invest In Now

4. Acelyrin, Inc. (NASDAQ:SLRN)

Number of Hedge Fund Investors: 28

Stock Price as of December 26: $3.17

Acelyrin, Inc. (NASDAQ:SLRN) is a biotechnology company dedicated to developing innovative immunological therapies for patients with severe and unmet medical needs. The company has a robust pipeline of therapeutic candidates, focusing on autoimmune and inflammatory diseases.  Acelyrin, Inc. (NASDAQ:SLRN) partners with academic and clinical research institutions to advance treatments that improve patient outcomes.

Acelyrin, Inc. (NASDAQ:SLRN) is focusing on the development of its lead product candidate, lonigutamab. Lonigutamab is a humanized IgG1 monoclonal antibody that targets the Insulin-like Growth Factor 1 Receptor (IGF-1R) and is the only approved action for treating Thyroid Eye Disease (TED). TED is a vision-threatening autoimmune disease affecting over 100,000 people in the U.S., characterized by inflammation and tissue expansion behind the eyes, leading to symptoms such as eye-bulging, double vision, and potential blindness.

Acelyrin, Inc. (NASDAQ:SLRN) has made substantial progress with lonigutamab, including positive proof-of-concept data demonstrating rapid improvements in proptosis and clinical activity scores within three weeks of the first dose. The company is currently conducting an adaptive Phase 2 dose-finding trial to establish the optimal dose and regimen for the Phase 3 registrational program. Cohorts 2 and 3 have been completed, and the company is actively enrolling Cohort 4, which is designed to confirm the loading dose and provide additional data using MRI assessments. With FDA alignment on the dosing strategy, Acelyrin, Inc. (NASDAQ:SLRN) is on track to initiate its Phase 3 program in the first quarter of 2025. The company has also established a Scientific and Patient Advisory Board to provide strategic input and clinical expertise, ensuring a well-informed and patient-focused approach to the development of lonigutamab.

In addition to lonigutamab, Acelyrin, Inc. (NASDAQ:SLRN) is advancing its Phase 2b/3 trial of Izokibep, a small protein therapeutic designed to inhibit interleukin-17Ain noninfectious non-interior uveitis. Uveitis is a complex and heterogeneous disease characterized by ocular inflammation, primarily affecting the working-age population and leading to significant complications such as retinal detachment. Current treatment options are limited, with corticosteroids and adalimumab being the only approved therapies. However, these treatments come with substantial side effects and efficacy limitations, whereas, Izokibep, has shown promising preclinical and early clinical results.