Amylyx facing future as it downsizes, begins withdrawal of ALS drug

In the wake of a clinical failure, Amylyx will be a much smaller company as it withdraws its ALS drug from two markets and looks ahead to its next catalyst this month.

Weeks after Relyvrio/Albrioza (AMX0035) missed the primary endpoint and secondary endpoints in the confirmatory Phase III PHOENIX study to treat amyotrophic lateral sclerosis, Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX) is laying off 70% of its employees and beginning the process of discontinuing the drug’s authorizations in the U.S. and Canada...