Market News

Amylyx Surges after Better-than-Expected Q4 Results

Shares of Amylyx Pharmaceuticals (NASDAQ: AMLX) surged more than 15% in after-hours trading on Tuesday after the biopharmaceutical company reported Q4 net product revenues of $21.9 million, after the launch of ALS (or Lou Gehrig’s disease) therapy Relyvrio and Albrioza (sodium phenylbutyrate and taurursodiol). These revenues exceeded analysts’ expectations of $4.7 million. The company had not earned any revenues in the same period last year.

Net loss in Q4 narrowed to $0.65 per share versus $4.10 in the same period last year while analysts were expecting a loss of $0.82 per share.

AMLX stock has soared by 25.4% in the past year.

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