Loading...
•
Mar 31, 2024
Amylyx Q1 2024 Earnings Report
Amylyx reported financial results for Q1 2024 and announced strategic updates.
Key Takeaways
Amylyx Pharmaceuticals reported a net product revenue of $88.6 million for the first quarter of 2024, compared to $71.4 million for the same period in 2023. However, the company experienced a net loss of $118.8 million, or $1.75 per share, compared to a net income of $1.6 million, or $0.02 per share, for the same period in 2023. The company is focusing on key clinical programs and has a cash runway into 2026.
Amylyx announced formal intention to remove RELYVRIO/ALBRIOZA from the market based on topline results from the Phase 3 PHOENIX trial.
Interim data from the Phase 2 HELIOS clinical trial of AMX0035 in Wolfram syndrome demonstrated encouraging improvement.
Interim analysis from the ORION study of AMX0035 in progressive supranuclear palsy is expected in mid-2025.
Amylyx expects to initiate a clinical trial of AMX0114 in ALS in the second half of 2024.
Forward Guidance
Amylyx expects cash runway into 2026, which will allow the organization to deliver on key upcoming milestones, including anticipated data readouts from HELIOS (AMX0035 in Wolfram syndrome), ORION (AMX0035 in PSP), and its planned trial of AMX0114 in ALS.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...