Amylyx Pharmaceuticals' Investigational Drug Shows Improved Pancreatic Function In Patients With Inherited Disorder
Portfolio Pulse from Vandana Singh
Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) released interim Phase 2 HELIOS trial data for AMX0035, showing improved pancreatic function in Wolfram syndrome patients. The drug demonstrated a clinically meaningful effect on diabetes progression, visual decline, and overall disease burden. The trial's safety profile was consistent with prior data. Following disappointing Phase 3 trial data for another drug, Amylyx announced a restructuring plan, including a 70% workforce reduction to extend its cash runway into 2026. AMLX shares dropped 6.74% to $2.49.
April 10, 2024 | 5:14 pm
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Amylyx Pharmaceuticals' AMX0035 shows positive interim results from the HELIOS trial for Wolfram syndrome, indicating potential for future development. The company also announced a major restructuring plan, including a 70% workforce reduction, to focus on key programs.
The positive trial results for AMX0035 could be overshadowed by the recent restructuring announcement and disappointing Phase 3 trial data for another drug, leading to a significant workforce reduction. This combination of news has likely contributed to the short-term negative impact on AMLX's stock price.
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