Ace­lyrin's found­ing CEO steps down, com­pa­ny scraps earn­ings call

Shao-Lee Lin is step­ping down as found­ing CEO of Ace­lyrin, a Cal­i­for­nia drug de­vel­op­er that raised the largest biotech IPO in 2023 and sub­se­quent­ly ran in­to clin­i­cal hur­dles with its lead im­munol­o­gy can­di­date.

Ace­lyrin dis­closed the lead­er­ship shuf­fle on Thurs­day, and it al­so scratched its planned first-quar­ter earn­ings call. The biotech said it is “ac­tive­ly con­sid­er­ing al­ter­na­tives to fur­ther ex­tend its cash run­way.” As of March 31, it had $678.5 mil­lion in cash, equiv­a­lents and short-term mar­ketable se­cu­ri­ties, which are slat­ed to keep op­er­a­tions afloat in­to 2026.

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