Amylyx Pharmaceuticals, Inc. (AMLX)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Amylyx Pharmaceuticals, Inc. (“Amylyx” or the “Company) (NASDAQ: AMLX). Investors who purchased Amylyx securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Amylyx and certain of its officers and/or directors have violated federal securities laws.
On or around January 7, 2022, Amylyx conducted its initial public offering, issuing 10 million shares of its common stock to the public at $19 per share. Then, on March 28, 2022, the U.S. Food and Drug Administration (“FDA”) released staff documents ahead of an Advisory Committee meeting convened to discuss AMX0035, the Company’s amyotrophic lateral sclerosis (“ALS”) therapy. Commenting on AMX0035, the FDA noted that the drug has met the primary endpoint in the CENTAUR Phase 3 trial used by the Company to demonstrate its efficacy, but the agency argues that its statistical significance with a p-value of 0.034 “is not highly persuasive.” On this news, the Company’s stock price fell $8.99 per share, or 35.96%, to close at $16.01 per share on March 28, 2022. Finally, on March 30, 2022, in a 6-4 vote, the FDA Advisory Committee voted against a finding that the study of AMX0035 as an ALS therapy established a conclusion that the drug is effective. On this news, the Company’s stock price fell $2.08 per share, or 13.93%, to close at $12.85 per share on March 31, 2022.
If you are aware of any facts relating to this investigation or purchased Amylyx shares you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.