Amylyx rises after positive data from genetic disorder drug trial

Amylyx Pharmaceuticals

17/10/2024 17:47

** Amylyx Pharmaceuticals' shares  AMLX.O  rise 3.6% to
$4.23
    ** Company reports positive data from mid-stage trial of
experimental drug, AMX0035, to treat people with rare genetic
disorder called Wolfram syndrome, which damages brain and other
tissues
    ** Trial data shows improvement in pancreatic function after
24 weeks of treatment; longer-term data shows sustained
improvement after 36 and 48 weeks - AMLX
    ** AMX0035 was earlier approved to treat a rare
neurodegenerative disease called amyotrophic lateral sclerosis,
and was sold under the brand name Relyvrio in U.S. and Albrioza
in Canada
    ** However, company withdrew the drug from both the markets
in March after failure to slow disease progression in a
late-stage trial
    ** Including session's loss, stock down 71% YTD primarily
due to company's withdrawal of Relyvrio

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com))