Amylyx Pharmaceuticals Q2 posts higher than expected loss

Amylyx Pharmaceuticals

06/08/2026 12:26

Overview
Biopharma firm's Q2 net loss and loss per share missed analyst expectations
Company completed final study visit in pivotal Phase 3 LUCIDITY trial for avexitide
Cash and investments at $250.8 mln; runway expected into 2028

Outlook
Topline data from Phase 3 LUCIDITY trial expected in late August or early September 2026
Company anticipates potential commercial launch of avexitide in 2027, if approved
Amylyx expects cash runway to fund operations into 2028

Result Drivers
R&D SPENDING SHIFT - Decrease in R&D expenses driven by lower spending on AMX0035 for progressive supranuclear palsy, offset by higher costs for avexitide clinical development in PBH
HIGHER SG&A COSTS - Increase in selling, general and administrative expenses due to higher legal expenses and increased investment in commercial strategic initiatives

Company press release: ID:nBw21Y4Da

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
Miss
$0.39
$0.36 (9 Analysts)
Q2 Net Loss
Miss
$43.42 mln
$39.98 mln (9 Analysts)
Q2 Operating Income
Miss
-$45.69 mln
-$42.32 mln (9 Analysts)
Q2 Cash & Investments
 
$250.80 mln
 
Q2 Operating Expenses
 
$45.69 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Amylyx Pharmaceuticals, Inc. is $24.00, about 9.8% above its August 5 closing price of $21.85

Reuters Recommended Reads
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Aug 3 - Supernus, Indivior merge to strengthen neuroscience drug portfolio

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)