Amylyx Pharmaceuticals, Inc. (AMLX) Stock Drop Lawsuit Investigation
At a glance
What is the Amylyx Pharmaceuticals (NASDAQ: AMLX) Securities Class Action Lawsuit Investigation about?
Gibbs Law Group is investigating potential claims on behalf of Amylyx investors.What did Amylyx Pharmaceuticals do wrong?
We are investigating whether Amylyx has violated federal securities laws by providing false or misleading statements to investors.What do you get out of this?
This lawsuit seeks to help Amylyx shareholders recover their losses.
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Amylyx Pharmaceuticals Stock News: Amylyx May Have Hid Negative Trends from Investors, According to Lawsuit
A lawsuit has been filed against Amylyx Pharmaceuticals, Inc. (“Amylyx Pharmaceuticals”) (NASDAQ: AMLX), for potentially violating federal securities laws by providing false or misleading statements to investors.
On November 9, 2023, biotechnology company Amylyx Pharmaceuticals announced its 2023 Q3 financial results and hosted a conference call to discuss these results. During the call, the company revealed that despite “a steady cadence of new prescriptions written in the third quarter,” its “results were impacted by a number of factors” including a slowdown in net adds “primarily driven by increased discontinuations for a variety of reasons.” Company management also stated that only “60% of people taking RELYVRIO remain on therapy six months after initiation in the U.S.” That same day, Investor’s Business Daily published an article addressing the disappointing financial results, noting that an analyst disputed Amylyx’s claim that the number of new patients starting treatment with RELYVRIO was “steady,” because his “math suggest[ed] otherwise,” and “Amylyx blocked analysts from seeing RELYVRIO’s prescription data” during the summer of 2023.
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