The IPOX® Watch: Amylyx Pharmaceuticals, Inc
COMPANY DESCRIPTION
Founded in 2014, Amylyx Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company headquartered in Cambridge, MA. Amylyx develops treatments for amyotrophic lateral sclerosis (ALS) and has received regulatory approval in both the U.S. and Canada. The company also explores other therapies in its pipeline for Wolfram Syndrome, Alzheimer’s and other neurodegenerative diseases.
BUSINESS MODEL
Amylyx Pharmaceuticals generates grant revenues from performing contract research and development services. The company has only commenced generating revenue from the sale of its approved drug product in Canada and the U.S. in the second half of 2022.
IPO HISTORY
On 01/07/2022, Amylyx Pharmaceuticals Inc began trading on the NASDAQ Global Select led by Goldman Sachs. The ALS drug developer upsized from 8.75 million to offer 10 million shares, at $19.00 per share, mid-point of its expected price range ($18-$20). Amylyx was valued at ca. $1.10 billion at offer with the 15% over-allotment option partially exercised. The shares opened at $21.00 and closed the first day down at $18.07 (-4.89%).
Amylyx Pharmaceuticals, Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 12/19/2022 and has gained +2.46% since addition to the index.
