Investors are feeling optimistic about Amylyx Pharmaceuticals Inc (AMLX) after the company announced it will release top-line results from its Phase 3 LUCIDITY clinical trial this week. The stock surged in after-hours trading on Monday, reflecting growing anticipation.
The biopharmaceutical company said it will announce the results for avexitide, its investigational treatment for post-bariatric hypoglycemia (PBH), on Tuesday morning. Senior management will hold a conference call at 8 a.m. ET to discuss the findings.
Avexitide is a first-in-class glucagon-like peptide-1 (GLP-1) receptor antagonist that has received FDA Breakthrough Therapy Designation for PBH. The Phase 3 trial enrolled 78 participants over 16 weeks in a multicenter, randomized, double-blind, placebo-controlled study, evaluating the drug's efficacy and safety in adults with PBH following Roux-en-Y gastric bypass (RYGB) surgery.
The last participant was randomized and dosed in March, and if the drug is approved, a commercial launch is anticipated in 2027.
In after-hours trading Monday, Amylyx shares were up 15.73%, trading at $24.80 at the time of publication, according to market data.
