Why Amylyx Pharmaceuticals Blasted Nearly 79% Higher This Week
The biotech delivered excellent news from the laboratory.
Overview
The stock of clinical-stage biotech Amylyx Pharmaceuticals (NASDAQ: AMLX) was a hot item among investors over the past five trading days.
One of its investigational medicines did very well in a late-stage clinical trial; this, combined with several subsequent analyst price target raises and the commencement of a secondary stock issue, drove Mr. Market to the shares. According to data compiled by S&P Global Market Intelligence, they ended the week with an almost 79% increase.
Details
On Tuesday, Amylyx published the topline results of a Phase 3 clinical trial of avexitide, a GLP-1 medication targeting post-bariatric hypoglycemia (low blood glucose levels after weight-loss surgery).
Source
Originally published at www.fool.com.