Amylyx (AMLX) Stock Clears 52-Week High After GLP-1 Drug Nails Phase 3 Trial

TLDR

• Amylyx stock jumped around 21% in pre-market trading after its GLP-1 drug avexitide hit both primary and secondary endpoints in a Phase 3 trial
• The trial showed patients had 55% fewer severe hypoglycemic events compared to placebo
• Mizuho raised its price target on AMLX to $30 from $24, keeping an Outperform rating
• Avexitide holds FDA Breakthrough Therapy Designation and Orphan Drug Designation
• A potential commercial launch is targeted for 2027, with early NDA preparations already underway

Amylyx Pharmaceuticals stock jumped roughly 21% in pre-market trading on Tuesday after the company announced that avexitide, its investigational GLP-1 receptor antagonist, succeeded in a late-stage clinical trial. The stock hit a pre-market price of $26.76, clearing its prior 52-week high of $24.60.

Amylyx Pharmaceuticals, Inc., AMLX

The Phase 3 LUCIDITY trial was a 16-week, multicenter, randomized, double-blind, placebo-controlled study enrolling 78 participants. It was designed to test avexitide in patients with post-bariatric hypoglycemia, a condition that causes dangerous drops in blood sugar after eating, often appearing years after weight-loss surgery.

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