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# Amylyx Loses $45.5 Million As It Prepares Avexitide For A Potential 2027 Launch
- URL: https://www.bullished.co/amylyx-loses-45-5-million-as-it-prepares-avexitide-for-a-potential-2027-launch-c0025b17/
- Published: 2026-11-06T17:37:06.000Z
- Updated: 2026-11-06T17:37:06.000Z
- Description: An August share offering replenished cash while research and launch preparations pushed quarterly expenses higher.
- Author: Matteo Parrino
- Tags: SEC Filings, AMLX, Industry: Healthcare

Amylyx Pharmaceuticals, which develops experimental medicines for hormone-related conditions and nerve-cell diseases, reported a third-quarter loss of [$45.5 million](https://www.sec.gov/Archives/edgar/data/0001658551/000119312526448525/amlx-ex99%5F1.htm?ref=bullished.co) Thursday as it spent more on drug development and preparations for a potential avexitide launch in 2027\. Results accompanying its [SEC filing](https://www.sec.gov/Archives/edgar/data/0001658551/000119312526448525/amlx-20261105.htm?ref=bullished.co) put the year-earlier loss at $34.4 million.

## More Spending, More Cash

The quarterly loss per share reached $0.38, compared with $0.37 a year earlier. Research expenses increased to $28.4 million from $19.9 million, primarily because of avexitide's late-stage trial and spending on other experimental treatments.

Selling and administrative expenses reached $21.3 million, versus $16.2 million. Amylyx attributed the increase mainly to personnel costs for pre-launch work and the vesting of performance-based stock awards. Stock-based pay included in those expenses totaled $7.2 million, versus $5.4 million; research expenses included another $3.2 million, compared with $1.6 million.

The spending came against a much larger cash cushion. Cash and investments stood at [$768.1 million](https://www.sec.gov/Archives/edgar/data/0001658551/000119312526448525/amlx-ex99%5F1.htm?ref=bullished.co) on September 30, up from $250.8 million on June 30\. A completed public share offering in August supplied approximately $544.6 million in net proceeds, which Amylyx said would support commercialization of avexitide if approved.

AMLX shares rose about 4% to $28.81 in Friday trading.

## Avexitide's Approval Push

Avexitide targets recurrent low blood sugar after weight-loss surgery by blocking an exaggerated hormone response that drives excess insulin production. Amylyx estimates the condition affects approximately [160,000 people](https://www.businesswire.com/news/home/20261104805440/en/Amylyx-Pharmaceuticals-to-Host-Investor-Event-at-ObesityWeek-2026-Featuring-Leading-PBH-Experts?ref=bullished.co) in the U.S. across sleeve gastrectomy and Roux-en-Y gastric bypass patients; the company says there are currently no FDA-approved treatments for it.

The late-stage study enrolled 78 participants who had undergone Roux-en-Y gastric bypass and ran at 21 U.S. sites. Over the 16-week blinded treatment period, avexitide reduced the combined rate of Level 2 and Level 3 low-blood-sugar events by 55% compared with placebo, meeting the trial's main goal.

Amylyx said the study also met every secondary goal and that the drug was generally well tolerated during blinded treatment. A 32-week extension and an expanded-access program for eligible adults remain underway.

“We remain on track to submit our NDA by year-end,” Amylyx co-CEOs Joshua Cohen and Justin Klee said in the release, referring to an [FDA approval application](https://www.sec.gov/Archives/edgar/data/0001658551/000119312526448525/amlx-ex99%5F1.htm?ref=bullished.co). The company is hiring across marketing, patient services, market access and commercial operations for a potential 2027 launch. Avexitide already has the FDA's Breakthrough Therapy designation for the condition.

## ALS And Longer-Acting Treatment Work

Amylyx's early-stage ALS study of AMX0114 completed enrollment of its third dose group, with 12 participants, and began enrolling its fourth. The trial evaluates safety, how the drug behaves in the body and biological measures of disease; Amylyx also presented results from the initial two dose groups at the Annual NEALS Meeting.

The company's broader development work includes AMX0035 for Wolfram syndrome. Research spending on AMX0035 for progressive supranuclear palsy declined after that program was discontinued, partly offsetting the quarter's expense increases.

AMX0318, a candidate intended for longer-acting treatment of post-surgery low blood sugar and other rare diseases, is undergoing studies needed before human testing. Identified through a research collaboration with Gubra A/S, it has a targeted 2027 application to begin human trials.

Amylyx plans to present the avexitide trial results at ObesityWeek in Washington, D.C., on November 15, 2026\. Its approval application remains planned for year-end, with commercialization contingent on FDA approval.

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From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Amylyx Pharmaceuticals, Inc. (AMLX)](https://www.sec.gov/Archives/edgar/data/0001658551/000119312526448525/amlx-20261105.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit amlx-ex99\_1.htm — Amylyx Pharmaceuticals, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001658551/000119312526448525/amlx-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Amylyx Pharmaceuticals Reports Third Quarter 2026 Financial Results – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202611050700BIZWIRE%5FUSPRX%5F%5F%5F%5F20261105%5FBW812435-1&ref=bullished.co) — Financial Times
- [Amylyx Pharmaceuticals to Host Investor Event at ObesityWeek® 2026 Featuring Leading PBH Experts](https://www.businesswire.com/news/home/20261104805440/en/Amylyx-Pharmaceuticals-to-Host-Investor-Event-at-ObesityWeek-2026-Featuring-Leading-PBH-Experts?ref=bullished.co) — businesswire.com