Amylyx Pharmaceuticals Enters Underwriting Agreement for Public Offering

On January 10, 2025, Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX) announced its entry into an underwriting agreement with Leerink Partners LLC for the issuance and sale of 17,142,857 shares of its common stock at a price of $3.50 per share. The firm shares are part of the offering, with the possibility of an additional 2,571,428 shares available through the underwriter’s 30-day option. If exercised in full, the net proceeds to Amylyx Pharmaceuticals could reach approximately $65.5 million, the company stated in a statement released as part of an 8-K filing with the Securities and Exchange Commission (SEC).

The company intends to utilize the funds from this offering, combined with existing resources, to propel commercialization preparations, pipeline programs, working capital needs, and for general corporate purposes. The anticipated closure date for the offering is pegged at January 13, 2025, subject to customary closing conditions. All shares in the offering will be sold by Amylyx Pharmaceuticals.

The underwriting agreement includes standard representations and warranties, closing conditions, as well as provisions regarding indemnification obligations related to the Securities Act of 1933, among other usual stipulations.

The offering is being conducted in compliance with a prospectus supplement dated January 10, 2025, and based on a registration statement on Form S-3ASR (File No. 333-270505) filed with the SEC on March 13, 2023. This offering should not be misconstrued as an invitation to buy or sell common stock shares.

Furthermore, the company shared a forward-looking statement within the filing, emphasizing the uncertainty inherent in future events due to various risks and uncertainties. Amylyx Pharmaceuticals expressed that any forward-looking statements are based on current expectations at the time of making such statements, cautioning investors not to rely solely on these predictions for their decisions.

For complete details regarding the terms of the underwriting agreement, interested parties are referred to the full text of the agreement, filed as Exhibit 1.1 to the 8-K report. Additionally, the legal opinion of Goodwin Procter LLP concerning the legality of the offering is included in Exhibit 5.1, as part of the company’s SEC disclosure.

In accordance with SEC requirements, the 8-K filing delineates pertinent financial statements and exhibits, showcasing the company’s commitment to transparency and compliance with regulatory standards. Amylyx Pharmaceuticals affirmed that any updates to the information stated will be communicated promptly, underscoring its dedication to informing stakeholders of any material developments affecting the company.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Amylyx Pharmaceuticals’s 8K filing here.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.