Acelyrin sets out for a 2021-sized IPO for California biotech’s PhIII drug

Drug licensor and developer Acelyrin revealed more of its IPO plans Monday morning, mapping out what could be one of the biggest biotech IPOs in the past few years if it raises $370 million by pricing at the high end of its proposed range. The California biotech aims to sell 20.6 million shares of common stock between $16 and $18 apiece and trade on Nasdaq as “$SLRN,” Acelyrin revealed Monday morning as it kicks off a roadshow to court potential investors. The immunology biotech plans to offer underwriters a 30-day option to buy up to 3.09 million more shares.