Amylyx Pharmaceuticals closed its upsized public offering of 14,090,000 common stock shares. The company priced the offering at $35.50 per share. Gross proceeds reached approximately $500.2 million before deducting underwriting discounts and commissions. Amylyx also granted underwriters a 30-day option to purchase up to 2,113,500 additional shares.
The capital will fund the potential U.S. commercial launch of avexitide for post-bariatric hypoglycemia. This financing follows positive Phase III trial results for the drug candidate. Additional funds will support research, development, working capital, and general corporate purposes.