Mohammad Faisal bin Ramli/iStock, Getty Images
Amyryx Pharmaceuticals (NASDAQ:AMLX) ~23% additional Thursday after the neurological-focused drug company beat Wall Street’s revenue expectations in its fourth-quarter 2023 results and updated the schedule for key late-stage programs.
Cambridge, Massachusetts-based Amylyx (AMLX) reported product revenue of $108.4 million. Revenue increased in the quarter compared to $21.9 million in the prior-year period due to the uptake of Relibri, a treatment for amyotrophic lateral sclerosis (ALS). Broken down in America
As sales soared, the company turned from a net loss of $42.7 million in the fourth quarter of 2022 to a net profit of $4.7 million, and its cash position as of Dec. 31 was $346.9 million a year ago. This improved from $371.4 million to $371.4 million.
Amyryx (AMLX) says Phase 3 Phoenix study of Relibrio (AMX0035) in ALS expects topline data in or before Q2 2024, with data to be shared in Q2 2024 The schedule was accelerated from the previous goal of
The PHOENIX study builds on the company’s Phase 2 CENTAUR study, which was the basis for FDA approval of Relyvrio in 2022.
In other milestones, AMYRIX (AMLX) has started in the ORION trial of AMX0035 for a rare neurological disease called progressive supranuclear palsy, and a Phase 3 trial will see it top in 2025 or 2026. He said that line data is expected to be obtained.
