Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX)

This lawsuit is for anyone who acquired securities in Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX) from November 11, 2022 though November 8, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by actively hiding from investors that customers were failing to continue on the Company’s ALS treatment, RELYVRIO, and also that doctors were prescribing less of the drug.

On November 9, 2023, Amylyx released its third quarter 2023 financial results, missing GAAP earnings per share consensus estimates by approximately 29%. The Company stated that results were impacted by a “slowdown in net adds” for its ALS treatment, RELYVRIO, which “was primarily driven by increased discontinuations for a variety of reasons” with only “60% of people taking RELYVRIO remain[ing] on therapy six months after initiation in the U.S.” That same day, Investor’s Business Daily published an article alleging, among other things, that Amylyx had blocked analysts from viewing RELYVRIO’s prescription data in the summer of 2023. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX) from November 11, 2022 though November 8, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.