Amylyx Pharma Q3 net loss bigger than expected

Overview

• U.S. biopharma's Q3 loss per share was in line with analyst expectations

• Net loss and operating income for Q3 missed analyst estimates

• Company reported positive Phase 3 LUCIDITY trial results for avexitide in post-bariatric hypoglycemia

Outlook

• Company expects to submit NDA for avexitide by end-2026

• Amylyx preparing for potential avexitide launch in 2027, if approved

• Amylyx targets IND filing for AMX0318 in 2027

Result Drivers

• CLINICAL TRIAL RESULTS - Positive topline results from Phase 3 LUCIDITY trial of avexitide in post-bariatric hypoglycemia drove activity in the quarter

• R&D SPENDING - Higher R&D expenses driven by costs related to Phase 3 LUCIDITY trial and avexitide programs

• COMMERCIAL PREPARATION - Increased SG&A expenses due to hiring and pre-commercialization activities ahead of potential avexitide launch

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Amylyx Pharmaceuticals, Inc. is $42.00, about 42.9% above its November 4 closing price of $29.40

Reuters Recommended Reads

• Nov 4 - Kailera Therapeutics Q3 net loss widens on higher R&D costs

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• Nov 3 - Rhythm Pharma Q3 net loss narrower than estimated on IMCIVREE demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)