Amylyx climbs after completing acquisition of low blood sugar drug
10/07/2024 12:43
** Shares of drugmaker Amylyx Pharmaceuticals AMLX.O rise
~6.1% to $1.75 premarket
** Co says it has completed the acquisition of bankrupt
drugmaker Eiger BioPharmaceuticals' EIGRQ.PK experimental drug
avexitide for low blood sugar
** Last month co agreed to buy the GLP-1 antagonist drug
** AMLX is expected to start late-stage studies for the drug
in Q1 2025
** Up to last close, stock down 88.8% YTD
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))
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