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Dec 31, 2023
Amylyx Q4 2023 Earnings Report
Amylyx reported positive net income and revenue growth, driven by increased sales of RELYVRIO and ALBRIOZA.
Key Takeaways
Amylyx Pharmaceuticals reported Q4 2023 financial results, highlighted by $108.4 million in net product revenue and a net income of $4.7 million. The company's full-year revenue reached $380.8 million, with a net income of $49.3 million. Amylyx is progressing its clinical trials and expanding the commercialization of its ALS treatments.
Net product revenue for Q4 2023 was $108.4 million.
Net income for Q4 2023 was $4.7 million.
Cash, cash equivalents, and short-term investments totaled $371.4 million as of December 31, 2023.
Amylyx is advancing clinical trials for AMX0035 in PSP and Wolfram syndrome.
Amylyx
Amylyx
Forward Guidance
Amylyx anticipates sharing topline data from its Phase 3 PHOENIX trial during or before the second quarter of 2024 and continues to progress its R&D programs.
Positive Outlook
- Topline data from Phase 3 PHOENIX trial expected during or before Q2 2024.
- Advancing AMX0035 in Progressive Supranuclear Palsy (PSP) through Phase 3 ORION trial.
- Data from Phase 2 HELIOS trial in Wolfram syndrome expected in 2024.
- AMX0114, an antisense oligonucleotide, is entering the clinic.
- Working on a new taste-masked formulation of RELYVRIO that may allow for new intellectual property.
Challenges Ahead
- The Phase 3 ORION trial topline results are not anticipated until 2025 or 2026.
- Potential risks associated with disorders that interfere with bile acid circulation.
- Potential risks associated with high sodium intake from RELYVRIO.
- Uncertainties regarding the success, cost, and timing of program development activities.
- Dependence on successful commercialization of RELYVRIO and ALBRIOZA.