Amylyx 2024 Q4 Earnings Misses Targets with Net Income Plunge of 893.6%

Amylyx (AMLX) reported its fiscal 2024 Q4 earnings on May 8th, 2025. The total revenue of Amylyx decreased significantly by 100.6% to $-665,000 in 2024 Q4, down from $108.45 million in 2023 Q4. The earnings report revealed a swing to a loss of $0.55 per share in 2024 Q4, compared to a profit of $0.07 per share in 2023 Q4, marking an 882.7% negative change. The net loss of $-37.55 million in 2024 Q4 reflects an 893.6% deterioration from the net income of $4.73 million achieved in 2023 Q4. These results missed expectations, and the company did not adjust its forward guidance.

Revenue

Earnings/Net Income
Amylyx swung to a loss of $0.55 per share in 2024 Q4 from a profit of $0.07 per share in 2023 Q4 (882.7% negative change). Meanwhile, the company reported a net loss of $-37.55 million in 2024 Q4, reflecting an 893.6% deterioration from the net income of $4.73 million achieved in 2023 Q4. This sharp decline in EPS indicates a challenging financial performance.

Price Action

Post-Earnings Price Action Review
The strategy of buying Amylyx (AMLX) shares after a quarter-over-quarter revenue drop and holding for 30 days demonstrated a 9.16% annual return, with 66.88% of months showing positive outcomes over the past five years. Although the maximum drawdown was 23.55%, it was recovered within 18 months, indicating a viable strategy that effectively captured growth while managing risk. The portfolio achieved a 9.16% annual return, with the best and worst years being 2019 and 2022, respectively. Despite slightly underperforming the benchmark, which had a 13.81% annual return, the strategy's cumulative return over five years was substantial. This analysis suggests a moderate returns potential with controlled risk, but investors should also consider the benchmark's performance and market conditions that could affect returns.

CEO Commentary
Justin Klee, Co-CEO, expressed optimism about Amylyx's progress in 2025, highlighting the advancement of three potential therapies across four clinical trials targeting high unmet medical needs. He noted the successful dosing of the first participants in pivotal trials for Avexitide and AMX0114, emphasizing the company's commitment to addressing chronic conditions like post-bariatric hypoglycemia and ALS. Klee highlighted the strong engagement from clinical trial sites and reinforced the strategic focus on executing clinical programs while preparing for a potential launch of Avexitide in 2027. He conveyed confidence in the company’s financial position, supported by a recent capital raise extending its cash runway through 2026.

Guidance
Amylyx anticipates completing enrollment for the Phase III LUCIDITY trial of Avexitide in 2025, with top-line data expected in the first half of 2026. The company projects that its current cash position of $204.1 million, bolstered by a $65.5 million capital raise, will support planned clinical milestones through the end of 2026. Additionally, the company aims to present week 48 data from the HELIOS trial in Wolfram syndrome in the coming days and expects to provide Phase IIb data from the ORION trial in progressive supranuclear palsy in the third quarter of 2025.

Additional News
Recently, Leerink Partners upgraded their outlook for Amylyx Pharmaceuticals (NasdaqGS:AMLX) from Market Perform to Outperform, suggesting a potential 93.03% upside with an average one-year price target of $8.98 per share. As of May 7, 2025, institutional interest in Amylyx has grown, with an increase in the number of funds holding positions. Notably, Perceptive Advisors increased its ownership, now holding 7.65% of the company. This increase in institutional investment indicates a bullish sentiment towards Amylyx's future prospects. Additionally, Amylyx has extended its cash runway through the end of 2026, supported by a recent $65.5 million capital raise, enhancing its financial position to support ongoing clinical developments.