Amylyx (AMLX) Overstating Treatment Prospects Case

The court has appointed the lead plaintiff to represent the class.

D. Massachusetts

Court

1:24-cv-12068

Case number

11/11/2022

Class period Start

11/08/2023

Class period End

04/09/2024

Lead Plaintiff motion deadline

$AMLX stockholder filed a claim vs. Amylyx for overstating RELYVRIO commercial prospects and prescription rate.
The news about 2023 financial report caused $AMLX to fall 31%, losing $387M+ in shareholder value.

After FDA approval of RELYVRIO for ALS treatment, Amylyx touted its commercial potential and prescription rate.

Then, Amylyx financial report for the Q3 of 2023 fell short of expectations, causing $AMLX to drop by almost 32%.

They cited a slowdown in new prescriptions for their drug RELYVRIO, with only 60% of patients continuing treatment six months after starting.

Based on these events, $AMLX stockholder filed a claim against Amylyx and its leaders, accusing them of the following:

Amylyx overstated RELYVRIO's commercial prospects, and the patients were discontinuing RELYVRIO treatment after six months.
They also tried to hide negative trends by blocking analysts from accessing prescription data.

Considering all the representations, investors have reasons to suspect that Amylyx misled them about RELYVRIO's prospects and prescription rate.

Case Status

Lead Plaintiff Appointed

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

11/09/2023

Filing date

02/09/2024

Lead Plaintiff Deadline

04/09/2024