Amylyx Pharma slips on $175 mln stock offering

Amylyx Pharmaceuticals

10/09/2025 11:42

** Amylyx Pharmaceuticals' AMLX.O shares down 4.4% premarket to $10.05 premarket after $175 mln follow-on priced

    ** Cambridge, Massachusetts-based Amylyx early Weds said sold 17.5 mln shares at $10, a
    4.9% discount to last close

    ** Co said intends to use net offering proceeds to fund commercial readiness for Avexitide, its drug for post-bariatric hypoglycemia, a condition in which people who have had weight-loss surgery experience dangerously low blood sugar levels

** Leerink and Guggenheim are lead bookrunners for the offering

** Last month, the U.S. FDA withdrew approval for AMLX's ALS drug, and co said it would stop development of its rare brain disorder drug after trial failure

** Co has ~89.2 mln shares outstanding for roughly $937 mln market cap

** Through Tues close, shares up 178% YTD

** 9 of 10 analysts rate AMLX "strong buy" or "buy" and 1 has "hold"; median PT is $12, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))