AMLX

Amylyx Pharmaceuticals, Inc. is a biopharmaceutical company that focuses on developing therapeutics for neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company was founded in 2013 by Joshua Cohen and Justin Klee. Amylyx gained significant attention with RELYVRIO (sodium phenylbutyrate and taurursodiol), which received FDA approval in September 2022 for treating amyotrophic lateral sclerosis (ALS). The drug also obtained approval in Canada under the brand name ALBRIOZA. The company's business model centers on advancing treatments that target cellular dysfunction underlying neurodegenerative conditions. In April 2024, Amylyx announced the voluntary withdrawal of RELYVRIO from the market in the United States and Canada after a Phase 3 clinical trial (PHOENIX) failed to meet its primary endpoint in demonstrating functional benefit for ALS patients. Following this development, the company announced in March 2024 its plans to wind down operations and return capital to shareholders, representing a significant shift from its previous growth trajectory. Prior to this decision, Amylyx had been exploring additional applications for its combination therapy and investigating other compounds in its pipeline for neurodegenerative diseases. The company has been publicly traded on the NASDAQ under the ticker symbol AMLX since its initial public offering in January 2022.