Amylyx's ALS drug fails in late-stage study, shares slump (updated)

Amylyx Pharmaceuticals

08/03/2024 12:22

(Adds details throughout, shares in paragraph 1)
       March 8 (Reuters) - Amylyx Pharmaceuticals  AMLX.O  said
on Friday its approved treatment for a neurological disorder
called amyotrophic lateral sclerosis failed in a late-stage
trial, sending its shares crashing 75% before the bell.
    The U.S. Food and Drug Administration approved the drug,
branded as Relyvrio, in September 2022 based on mid-stage trial
data that showed the drug slowed progression of the disease and
extended life expectancy by nearly 10 months. 
    ALS, also known as Lou Gehrig's disease, breaks down nerve
cells in the brain and spinal cord that make muscles work,
leading to progressive paralysis and death. 
    Amylyx said it intends to engage with regulatory authorities
over the next eight weeks to discuss the results and will share
plans for the drug which may include voluntarily withdrawing it
from the market. 

           
  

 (Reporting by Mariam Sunny in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Mariam.ESunny@thomsonreuters.com;))