Amylyx soars as blood sugar drug succeeds in late-stage trial
BUZZ-Amylyx soars as blood sugar drug succeeds in late-stage trial Updates
** Shares of drug developer Amylyx Pharmaceuticals AMLX.O rise 44% to $30.84, its highest level in more than a year
** Co says its drug avexitide met the main goal of improving post-bariatric hypoglycemia in a late-stage trial
** The condition is marked by dangerously low blood sugar levels in patients who have undergone weight-loss surgery
** In the 78-patient trial, the drug achieved a 55% reduction in these low blood sugar episodes compared with a placebo during the 16-week study
** "Avexitide's striking efficacy and favorable tolerability should support strong uptake in our estimated 30,000 severe PBH patients in the US," says Guggenheim
** Co plans to submit the drug for U.S. regulatory approval by the end of this year, aiming for a potential commercial launch in 2027
** Up to last close, stock up 77.4% YTD
(Reporting by Christy Santhosh)
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