Amylyx hits record low after approved ALS drug fails in confirmatory study

Amylyx Pharmaceuticals

08/03/2024 15:21

(Updates)
    ** Shares of drugmaker Amylyx Pharmaceuticals  AMLX.O  fall
as much as 85.8% to an all-time low of $2.70
    ** Stock set for its biggest one day pct. fall since debut
in 2022, if losses hold
    ** Company says its approved ALS drug, known as Relyvrio in
the U.S. and Albrioza in Canada, failed to meet the main goal of
a late-stage confirmatory trial
    ** AMLX says it will share plans for the drug, which may
include voluntarily withdrawing it from the market
    ** Stock down 91.4% in the last 12 months

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))