Amylyx Pharmaceuticals Inc (AMLX) just unveiled an announcement.
Amylyx Pharmaceuticals, Inc. is implementing a major restructuring plan to sharpen its focus on core clinical and preclinical programs, resulting in a workforce reduction of about 70% and decreased financial commitments in non-priority areas. With this restructuring, the company anticipates severance-related costs of $19 million and is assessing the impact on inventory. Concurrently, Amylyx is withdrawing its drug RELYVRIO®/ALBRIOZA™ from the U.S. and Canadian markets following Phase 3 trial outcomes, while maintaining an open label extension study and continuing ALS research. Despite these changes, the company expects its financial runway to extend into 2026.
Learn more about AMLX stock on TipRanks’ Stock Analysis page.
