Amylyx Pharmaceuticals (AMLX) meaningfully missed Wall Street's expectations on Thursday amid struggles with its amyotrophic lateral sclerosis drug. AMLX stock crashed in morning trades.
It's been over a year since the Food and Drug Administration approved its drug, Relyvrio, to treat amyotrophic lateral sclerosis, or ALS. Also known as Lou Gehrig's disease, it causes progressive degeneration of nerve cells in the spinal cord and brain.
Amylyx noted patients are dropping off Relyvrio treatment after six months, Evercore ISI analyst Michael DiFiore said in a report. But Amylyx said the number of new patients starting treatment was "steady." DiFiore says his math suggests otherwise.
He also noted Amylyx blocked analysts from seeing Relyvrio prescription data this summer.
https://www.investors.com/news/technology/amlx-stock-crashes-as-patients-drop-off-als-drug-relyvrio/
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