Amylyx Pharmaceuticals, Inc. ( (AMLX) ) has released its Q4 earnings. Here is a breakdown of the information Amylyx Pharmaceuticals, Inc. presented to its investors.
Amylyx Pharmaceuticals, Inc., a biotechnology company specializing in treatments for neurodegenerative and endocrine diseases, has reported its financial results for the fourth quarter and full year of 2024. The company is advancing its pipeline with a focus on investigational therapies such as avexitide for post-bariatric hypoglycemia (PBH) and AMX0035 for Wolfram syndrome and progressive supranuclear palsy (PSP).
In 2024, Amylyx made significant strides in its clinical programs, notably initiating the pivotal Phase 3 LUCIDITY trial for avexitide, which is expected to complete enrollment in 2025. The company also completed a public offering of common stock, raising approximately $65.5 million, which extends its cash runway through the end of 2026.
The financial results showed a decrease in research and development expenses to $22.9 million in Q4 2024 from $44.9 million in the same period in 2023. Selling, general, and administrative expenses also decreased significantly. However, the company reported a net loss of $37.5 million for the fourth quarter of 2024, compared to a net income of $4.7 million in the same period the previous year.
Looking ahead, Amylyx is poised to achieve key milestones, including data readouts from ongoing trials and potential regulatory interactions. The management remains optimistic about the company’s strategic direction and its ability to address high unmet needs in the markets it serves.