AMLX Stock Clocks Best Day Ever After Positive Trial Data, Launches $350M Offering

• AMLX’s Tuesday rally followed positive topline data from the late-stage LUCIDITY study of avexitide, a once-daily injection for post-bariatric hypoglycemia.
• H.C. Wainwright raised its price target on Amylyx to $55 from $34 and kept a Buy rating following the trial data unveiling.
• Stifel called the clinical data a “best-case scenario” and “clear win” on the primary endpoint with clean safety.

Amylyx Pharmaceuticals (AMLX) launched an underwritten public offering of $350 million in common shares after hours on Tuesday on the heels of announcing positive topline data from its late-stage trial of its experimental injection avexitide for post-bariatric hypoglycemia.

Shares of the company clocked its best day ever, closing 64% higher, and edged up 2% after hours.

AMLX’s Offering

Amylyx said that the proceeds from the offering, together with existing cash, will fund pre-commercial work for avexitide—including extra manufacturing capacity—research and development, and general corporate needs. The offering is subject to market conditions.

The capital raise comes as Amylyx prepares to move from clinical success toward potential commercialization on the heels of the positive data announced earlier today. Amylyx has no FDA-approved therapies as of August. Its previously approved product, Relyvrio, was withdrawn from the market after a late-stage trial failed in 2024.

Strong Trial Results Drive Momentum

AMLX’s Tuesday rally followed positive topline data from the late-stage LUCIDITY study of avexitide, a once-daily injection for post-bariatric hypoglycemia. This rare condition causes repeated dangerous drops in blood sugar after weight-loss surgery.

In the 78-patient trial, avexitide cut the rate of serious low-blood-sugar events by 55% compared with placebo. It also met every secondary goal with clear, meaningful reductions and showed a clean safety profile. Amylyx plans to file for U.S. approval by the end of 2026 and aims for a 2027 launch if approved.

Analysts Lift Targets On De-Risked Asset

H.C. Wainwright raised its price target on Amylyx to $55 from $34 and kept a Buy rating following the trial data unveiling. The firm said the LUCIDITY results substantially de-risk avexitide, citing the 55% reduction, strong secondary outcomes, clean safety, and a planned year-end filing that supports a 2027 launch and roughly $1.3 billion in risk-adjusted peak U.S. sales.

Stifel lifted its target to $45 from $21 and maintained a Buy. It called the data a “best-case scenario” and “clear win” on the primary endpoint with clean safety, saying the results substantially de-risk approval and shift focus to commercial execution in an underappreciated market estimated at $2 billion.

Citi described avexitide’s profile as “highly differentiated” and said the company now has a “persuasive foundation” for FDA approval. It kept a Buy rating with a $32 price target.

How Did AMLX Retail Traders React?

On Stocktwits, retail sentiment around AMLX stock rose from neutral to extremely bullish territory over the past 24 hours, while message volume rose from normal to extremely high levels.

A Stocktwits user voiced hopes for a further rally up to $40/share.

Another opined that dilution risk is now also offset after the stock offering.

AMLX stock has gained about 200% year-to-date. 

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