ACELYRIN (SLRN) investor relations material

Strategic focus and financial position

• Focused on developing transformative therapies for immune-mediated diseases, with a late-stage pipeline and multiple upcoming clinical milestones expected through 2026.

• Cash position of $486.3 million as of June 30, 2025, provides operational runway into 2027, supporting advancement of key programs.

• Leadership team has a track record of capital efficiency and value creation.

• Recent collaboration with Kaken in Japan secures $40M in near-term payments and potential for $140M in milestones, supporting global commercialization strategy.

Pipeline overview and clinical programs

• Three differentiated clinical programs: two TYK2 inhibitors (envudeucitinib and A-005) and an IGF-1R inhibitor (lonigutamab), targeting a broad range of immune-mediated diseases.

• Envudeucitinib is in Phase 3 for moderate-to-severe plaque psoriasis (topline data expected early 1Q 2026) and Phase 2b for systemic lupus erythematosus (topline data expected 3Q 2026).

• A-005, a CNS-penetrant TYK2 inhibitor, is Phase 2 ready for multiple sclerosis, with trial initiation expected in 1H 2026.

• Lonigutamab, a subcutaneous anti-IGF-1R, is being evaluated for thyroid eye disease, with ongoing development plan assessment.

Scientific rationale and market opportunity

• TYK2 P1104A loss-of-function variant provides strong genetic validation for targeting TYK2 in multiple immune-mediated diseases.

• The TYK2 inhibitor class has substantial market potential, with over $150B in addressable indications, including psoriasis, lupus, MS, and others.

• Envudeucitinib achieves maximal target inhibition, with clinical outcomes in psoriasis competitive with high-efficacy biologics and a favorable safety profile.

• A-005 demonstrates full CNS penetration and robust preclinical efficacy in neuroinflammatory models, with no safety signals in Phase 1.