Home / Business and Economy / Commodore Capital Bets Big on Amylyx Pharmaceuticals
Commodore Capital Bets Big on Amylyx Pharmaceuticals
5 Dec
Summary
- Commodore Capital disclosed a new position in Amylyx Pharmaceuticals.
- The firm acquired nearly 4.1 million shares valued at $55 million.
- Amylyx Pharmaceuticals develops therapies for neurodegenerative diseases.
Commodore Capital LP, based in New York City, has announced a substantial new investment in Amylyx Pharmaceuticals (NASDAQ:AMLX). The firm disclosed its acquisition of nearly 4.1 million shares, a holding valued at approximately $55 million as of November 14. This strategic move represents 2.7% of Commodore Capital's total reportable equity holdings after the third quarter.
Amylyx Pharmaceuticals is a clinical-stage biotechnology company dedicated to creating novel treatments for neurodegenerative conditions, with a primary focus on amyotrophic lateral sclerosis (ALS). Its lead product candidate is AMX0035, designed as a dual inhibitor of UPR-Bax apoptosis. The company's financial health has shown positive trends, with a more than halved quarterly net loss year-over-year and an extended cash runway projected into 2028, bolstered by a recent public offering.
With upcoming catalysts including Phase 3 LUCIDITY topline results expected in Q3 2026 and potential market entry for avexitide in 2027, Amylyx is poised for significant developments. Early data for AMX0114 in ALS is also slated for presentation in December. Despite remaining unprofitable, the company's strong capital position and pipeline advancements present an attractive, albeit volatile, opportunity for investors.
