NEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Amylyx Pharmaceuticals, Inc. (“Amylyx” or the “Company”) (NASDAQ: AMLX). The investigation concerns whether Amylyx and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On November 9, 2023, Amylyx issued a press release announcing its third quarter of 2023 results, including third quarter GAAP earnings-per-share of $0.30, missing consensus estimates by $0.12. The same day, Investor’s Business Daily published an article entitled “Amylyx Crashes 27% As New ALS Drug Faces A Barrage Of Troubles.” The article cited an ISI analyst, who questioned Amylyx’s claim that the number of new patients starting treatment with its approved drug Relyvrio for amyotrophic lateral sclerosis (a/k/a Lou Gehrig’s disease) was “steady” despite seeing patients drop off of its Relyvrio treatment after six months. Specifically, the analyst noted that the Company had blocked analysts from seeing Relyvrio prescription data in the summer of 2023. On this news, the price of Amylyx shares declined by $5.74 per share, or approximately 31.89%, from $18.00 per share to close at $12.26 on November 9, 2023.
If you purchased or otherwise acquired Amylyx securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
