Amylyx Pharmaceuticals, Inc.
AMLX · Pharmaceutical Preparations · 111.2M shares · +118%/yr ↑ dilution · EDGAR filings ↗
Reference price $13.51 · est. market cap ~$1.5B — last insider purchase, 2026-05-21 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Cash-secured clinical-stage name with strong avexitide Phase 2 data but a history of a failed/withdrawn lead drug.
Strengths
- Cash $317M funds operations into 2028; current ratio 14.3 (89th pct)
- Avexitide showed consistent significant Phase 2 effects in PBH (e.g., 66% Level 3 event reduction, p=0.0003) ahead of Phase 3 LUCIDITY topline in Q3 2026
Risks
- AMX0035 (Relyvrio) Phase 2 win (p=0.03) was overturned by the negative PHOENIX Phase 3 and market withdrawal; PEGASUS AD was negative — pattern of late-stage disappointment
- Revenue -100% (8th pct) after losing Relyvrio sales; net income growth 18th pct
- Lead value rests on a single binary Phase 3 readout
Notable findings
- Chronic dilutionShare count +118%/yr over 3y (dilution, book value/share -91%)
- Cash burnNegative free cash flow (-123.5M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Strong balance sheetStrong balance sheet — $317M cash & investments, ~10 quarters of runway
- Notable holderHeld by 4 notable fund(s): FMR LLC, GOLDMAN SACHS GROUP INC, STATE STREET CORP +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 17 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$6M, last 6mo) Form 4 ↗
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-47.4%
Return on assets
-43.5%
Revenue growth (QoQ)
-100.0%
Current ratio
14.3×
Free cash flow
-$123M
Tangible book value
$305M
Cash & investments
$317M
Cash runway
10q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | Firestone Karen | Buy | 3.8K | $13.51 |
| 2026-03-05 | Mazzariello Gina | Grant | 75K | — |
| 2026-03-05 | FRATES JAMES M | Grant | 96K | — |
| 2026-03-05 | Cohen Joshua B | Grant | 249K | — |
| 2026-03-05 | Klee Justin B. | Grant | 249K | — |
| 2026-03-05 | Bedrosian Camille L | Grant | 96K | — |
| 2026-03-02 | Klee Justin B. | Sell | 29K | $14.47 |
| 2026-03-02 | Cohen Joshua B | Sell | 29K | $14.48 |
| 2026-03-02 | Bedrosian Camille L | Sell | 6.5K | $14.58 |
| 2026-03-02 | FRATES JAMES M | Sell | 7.9K | $14.52 |
| 2026-03-02 | Mazzariello Gina | Sell | 6.8K | $14.52 |
| 2026-02-23 | Mazzariello Gina | Sell | 3.4K | $14.14 |
| 2026-02-02 | Klee Justin B. | Sell | 16K | $14.69 |
| 2026-02-02 | FRATES JAMES M | Sell | 3.6K | $14.65 |
| 2026-02-02 | Cohen Joshua B | Sell | 16K | $14.68 |
| 2026-02-02 | Mazzariello Gina | Sell | 3.4K | $14.65 |
| 2026-01-16 | Cohen Joshua B | Option exercise | 2.8K | $7.57 |
| 2026-01-16 | Cohen Joshua B | Sell | 2.0K | $13.83 |
| 2026-01-16 | Klee Justin B. | Option exercise | 2.8K | $7.57 |
| 2026-01-16 | Klee Justin B. | Sell | 2.0K | $13.89 |
| 2026-01-15 | Cohen Joshua B | Option exercise | 197K | $7.57 |
| 2026-01-15 | Cohen Joshua B | Sell | 136K | $13.59 |
| 2026-01-15 | Klee Justin B. | Option exercise | 197K | $7.57 |
| 2026-01-15 | Klee Justin B. | Sell | 136K | $13.58 |
| 2026-01-12 | MILNE GEORGE M JR | Gift | 18K | — |
| 2026-01-06 | FRATES JAMES M | Sell | 3.3K | $11.11 |
| 2026-01-06 | Cohen Joshua B | Sell | 7.7K | $11.09 |
| 2026-01-06 | Klee Justin B. | Sell | 7.7K | $11.09 |
| 2025-12-23 | Firestone Karen | Buy | 8.1K | $12.45 |
| 2025-12-01 | Bedrosian Camille L | Sell | 6.6K | $14.35 |
| 2025-09-30 | Klee Justin B. | Sell | 200 | $15.01 |
| 2025-09-30 | Klee Justin B. | Sell | 30K | $14.37 |
| 2025-09-30 | Mazzariello Gina | Sell | 8.8K | $14.58 |
| 2025-09-30 | FRATES JAMES M | Sell | 11K | $14.65 |
| 2025-09-30 | Cohen Joshua B | Sell | 30K | $14.34 |
| 2025-09-30 | Cohen Joshua B | Sell | 200 | $15.00 |
| 2025-09-30 | Bedrosian Camille L | Sell | 12K | $14.58 |
| 2025-08-13 | Mazzariello Gina | Sell | 15K | $8.34 |
| 2025-08-12 | Mazzariello Gina | Sell | 15K | $8.07 |
| 2025-05-22 | Mazzariello Gina | Gift | 1.0K | — |
| 2025-03-31 | Cohen Joshua B | Sell | 21K | $3.47 |
| 2025-03-31 | Klee Justin B. | Sell | 21K | $3.46 |
| 2025-03-31 | Bedrosian Camille L | Sell | 12K | $3.47 |
| 2025-03-31 | FRATES JAMES M | Sell | 11K | $3.47 |
| 2025-03-31 | Mazzariello Gina | Sell | 9.2K | $3.48 |
| 2025-03-20 | Zeiher Bernhardt G | Buy | 10K | $3.70 |
| 2025-03-06 | Cohen Joshua B | Grant | 180K | — |
| 2025-03-06 | Mazzariello Gina | Grant | 64K | — |
| 2025-03-06 | Bedrosian Camille L | Grant | 68K | — |
| 2025-03-06 | Klee Justin B. | Grant | 180K | — |
| 2025-03-06 | FRATES JAMES M | Grant | 68K | — |
| 2025-03-03 | Klee Justin B. | Sell | 4.6K | $3.15 |
| 2025-03-03 | Cohen Joshua B | Sell | 4.6K | $3.17 |
| 2025-03-03 | Mazzariello Gina | Sell | 1.6K | $3.12 |
| 2025-02-24 | Mazzariello Gina | Sell | 4.2K | $3.15 |
| 2025-02-05 | Klee Justin B. | Option exercise | 36K | $1.57 |
| 2025-02-03 | Mazzariello Gina | Sell | 3.7K | $3.49 |
| 2025-02-03 | Cohen Joshua B | Sell | 12K | $3.47 |
| 2025-02-03 | Klee Justin B. | Sell | 12K | $3.47 |
| 2025-01-24 | MILNE GEORGE M JR | Gift | 28K | — |
| 2025-01-06 | Klee Justin B. | Sell | 7.5K | $4.04 |
| 2025-01-06 | Cohen Joshua B | Sell | 7.5K | $4.05 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06665165 ↗ | AMX0114 in Adult Participants With Amyotrophic Lateral Sclerosis ALS | PHASE1 | Recruiting | 2027-02-01 |
| NCT06747468 ↗ | Avexitide for Treatment of Post-Bariatric Hypoglycemia Post Bariatric Hypoglycemia | PHASE3 | Active Not Recruiting | 2026-03-01 |
| NCT05676034 ↗ | AMX0035 in Adult Patients With Wolfram Syndrome Wolfram Syndrome | PHASE2 | Active Not Recruiting | 2024-07-23 |
| NCT05021536 ↗ | Phase III Trial of AMX0035 for Amyotrophic Lateral Sclerosis Treatment Amyotrophic Lateral Sclerosis | PHASE3 | Active Not Recruiting | 2024-01-19 |
| NCT06122662 ↗ | AMX0035 and Progressive Supranuclear Palsy Progressive Supranuclear Palsy, PSP | PHASE2/PHASE3 | Completed | 2025-09-30 |
| NCT05619783 ↗ | Extension Study Evaluating The Safety And Tolerability of AMX0035 Amyotrophic Lateral Sclerosis | PHASE3 | Completed | 2024-10-16 |
| NCT04516096 ↗ | A Compassionate Use Protocol of AMX0035 for Treatment of Patients With Amyotrophic Lateral Sclerosis (ALS) Amyotrophic Lateral Sclerosis | PHASE2/PHASE3 | Completed | 2022-12-30 |
| NCT04987671 ↗ | Pharmacokinetic and Pharmacodynamic Study of AMX0035 in Patients With ALS ALS | PHASE1/PHASE2 | Unknown | 2022-05-11 |
| NCT03488524 ↗ | Open Label Extension Study of AMX0035 in Patients With ALS Amyotrophic Lateral Sclerosis, ALS | PHASE2 | Completed | 2021-03-01 |
| NCT03533257 ↗ | Study to Assess the Safety and Biological Activity of AMX0035 for the Treatment of Alzheimer's Disease Alzheimer Disease | PHASE2 | Completed | 2020-10-22 |
| NCT03127514 ↗ | AMX0035 in Patients With Amyotrophic Lateral Sclerosis (ALS) Amyotrophic Lateral Sclerosis, Motor Neuron Disease | PHASE2 | Completed | 2019-09-25 |
| NCT07582874 ↗ | An Expanded Access Protocol to Provide Avexitide in Patients With Post-Bariatric Hypoglycemia Post-bariatric Hypoglycemia | — | Available | |
| NCT05286372 ↗ | An Intermediate Size Expanded Access Protocol of AMX0035 for ALS Amyotrophic Lateral Sclerosis | — | Approved For Marketing |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-04 | 2026-06-04 | 0001193125-26-257390 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001193125-26-210292 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001193125-26-210286 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001193125-26-120691 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001193125-26-086645 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001193125-26-086629 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001193125-26-006991 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001193125-25-268059 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001193125-25-268043 ↗ |
| 8-K | 2025-09-10 | 2025-09-09 | 0001193125-25-200159 ↗ |
| 8-K | 2025-08-27 | 2025-08-27 | 0001193125-25-189109 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001193125-25-174948 ↗ |