Amylyx Pharmaceuticals Announces Proposed Public Offering of Common Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX), a clinical-stage pharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases, today announced the launch of its initial public offering (IPO) of 8,750,000 shares of common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). The initial public offering price is expected to be between $18.00 and $20.00 per share. Amylyx has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "AMLX". All of the shares of common stock are being offered by Amylyx. Amylyx expects to grant the underwriters a 30-day option to purchase up to an additional 1,312,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Goldman Sachs & Co. LLC, SVB Leerink, and Evercore ISI are acting as joint book-running managers for the proposed offering. H.C. Wainwright & Co. is acting as lead manager for the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.

The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering may be obtained from: Goldman Sachs & Co. LLC, at Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by e-mail at prospectus-ny@ny.email.gs.com; SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at 1-800-808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 1-888-474-0200, or by email at ecm.prospectus@evercore.com. A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Amylyx Pharmaceuticals is committed to developing a novel therapeutic for ALS and other neurodegenerative diseases. The company's candidate drug, AMX0035, is a combination of two known drugs, sodium phenylbutyrate and taurursodiol, which have been shown to have neuroprotective and anti-inflammatory effects. The company's pipeline also includes other preclinical programs targeting neurodegenerative diseases.

The proceeds from the proposed offering are expected to be used alongside existing cash, cash equivalents, and marketable securities to advance commercialization preparations and pipeline programs, working capital, and general corporate purposes. Leerink Partners is serving as the sole book-running manager for the proposed offering.

The proposed offering represents a critical capital raising initiative for Amylyx, with several noteworthy implications. The structure of the deal, featuring a 30-day overallotment option (green shoe), suggests strategic flexibility in managing market demand. Leerink Partners' involvement as sole book-runner indicates a focused distribution approach, leveraging their healthcare sector expertise. The timing of this offering is particularly interesting given Amylyx's current market capitalization of $258.4 million. The decision to tap public markets now could signal either opportunistic capital raising or a need to strengthen the balance sheet. The stated use of proceeds for commercialization preparations and pipeline advancement suggests a strategic push to scale operations, though the lack of specific funding targets raises some concerns about dilution impact.




In conclusion, Amylyx Pharmaceuticals' proposed public offering of common stock is an important step in the company's growth and development. The offering represents an opportunity for investors to participate in the company's mission to develop novel therapeutics for neurodegenerative diseases, while also providing the company with the capital needed to advance its commercialization preparations and pipeline programs. As the offering progresses, investors should closely monitor the market's reaction to the proposed offering price and the company's future developments.