Amylyx approval still possible despite negative opinion, says Mizuho

Mizuho analyst Graig Suvannavejh keeps a Buy rating on Amylyx Pharmaceuticals with a $50 price target after the company received a negative opinion from the Europe’s Committee for Medicinal Products for Human Use on its application for conditional marketing authorization for AMX0035 for the treatment of amyotrophic lateral sclerosis in Europe. The CHMP negative opinion comes as expected, and hence is no surprise, the analyst tells investors in a research note. In light of Amylyx’s plans to request a reexamination, there is still a possibility of AMX0035 getting approved, contends the firm. Mizuho continues to have a “healthy dose of confidence and optimism: for ultimate AMX0035 approval in Europe.