Amylyx prices 14.09 million-share offering at $35.50 after LUCIDITY topline win

Amylyx Pharmaceuticals priced a public offering of 14,090,000 shares of common stock at $35.50 per share, according to a prospectus supplement dated August 19, 2026. The filing, made pursuant to Rule 424(b)(5) under Registration No. 333-293956, describes an offering of 14,090,000 shares of common stock, par value $0.0001 per share.¹ The stock closed at $35.11 per share on Nasdaq on August 18, 2026.¹ Underwriters, led by Leerink Partners, Morgan Stanley, Guggenheim Securities and LifeSci Capital, were granted a 30-day option to buy up to 2,113,500 additional shares.¹ Delivery was expected on or about August 21, 2026.¹

The company estimated net proceeds of approximately $471.7 million, or $542.5 million if the underwriters' option is exercised in full, to be used together with existing cash to fund the potential commercial launch of avexitide in the United States, if approved, including manufacturing capacity, along with research and development and general corporate purposes.¹

The raise follows topline data from the Phase 3 LUCIDITY trial in post-bariatric hypoglycemia (PBH). On August 18, 2026, Amylyx announced positive topline results from LUCIDITY, a 78-participant, randomized, double-blind, placebo-controlled trial in which participants were randomized 3:2 to receive either 90 mg avexitide subcutaneously once daily or placebo.¹ The trial met its FDA-agreed primary endpoint, showing a 55% reduction in the composite rate of Level 2 and Level 3 hypoglycemic events versus placebo (p=0.000003), and met all secondary endpoints.¹ Most adverse events were mild to moderate, with no serious adverse events related to avexitide; the most common were diarrhea, injection site erythema and injection site bruising.¹

Amylyx said it plans to submit a New Drug Application to the FDA by the end of 2026, while LUCIDITY's 32-week open-label extension and the avexitide expanded access program both remain ongoing.¹ The company said it is currently in discussions with contract manufacturers to secure commercial supply of avexitide, if approved.¹

Based on the $35.50 offering price, purchasers in the offering will experience immediate dilution of $29.83 per share in net tangible book value.¹ Following the offering, the company expects to have 125,458,283 shares outstanding, or 127,571,783 if the underwriters' option is exercised in full.¹