Buoyed by readout, Amylyx banks $500M ahead of submission: Finance Report

Taking advantage of a data readout that lifted its share price, Amylyx priced an upsized $500 million offering this week to support a planned NDA submission and subsequent product launch.

Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX) sold 14.1 million shares at $35.50 in a follow-on priced late Wednesday, a day after it proposed to raise $350 million. The deal followed Tuesday’s news that the company’s peptide GLP-1R antagonist, avexitide, had met the primary endpoint in a Phase III study to treat post-bariatric hypoglycemia, paving the way for a submission this year...