Amylyx Pharmaceuticals (NASDAQ: AMLX) Upsized Its Underwritten Public Offering to $500.2 Million From the Initial $350 Million Announcement, Pricing 14,090,000 Shares of Common Stock at $35.50 per Share Wednesday August 19, 2026 With Expected Closing August 21 and an Underwriter 30-Day Option for an Additional 2,113,500 Shares That Would Bring Total Raise Capacity to Roughly $575 Million (Before Underwriting Discounts and Commissions); Use of Proceeds: Avexitide (Exendin 9-39, a Peptide GLP-1 Receptor Antagonist) Commercial Launch Preparation Following the Monday LUCIDITY Phase 3 Win, NDA Submission Activities (Planned End of 2026), AMX0318 IND-Enabling Studies, and General Corporate Purposes; New Investors Will Experience Substantial Immediate Dilution Relative to the Public Offering Price, With 111,368,283 Shares Outstanding as of June 30, 2026 Now Growing by 12.6% on Base Offering and 14.5% Including the Overallotment
Amylyx Pharmaceuticals (NASDAQ: AMLX) upsized its underwritten public offering to $500.2 million from the initial $350 million announcement, pricing 14,090,000 shares of common stock at $35.50 per share Wednesday August 19, 2026. Expected closing: August 21, 2026, subject to customary closing conditions. Underwriter 30-day option: additional 2,113,500 shares at the same price less underwriting discounts and commissions, which would bring total raise capacity to roughly $575 million if fully exercised. Use of proceeds: avexitide (exendin 9-39, a peptide GLP-1 receptor antagonist) commercial launch preparation following the Monday August 18 LUCIDITY Phase 3 primary endpoint hit (55% reduction in composite Level 2/3 hypoglycemic events, p=0.000003, in post-bariatric hypoglycemia), NDA submission activities planned for end of 2026, AMX0318 (long-acting GLP-1 receptor antagonist candidate) IND-enabling studies with IND filing targeted 2027, and general corporate purposes. Dilution: as of June 30, 2026, Amylyx reported 111,368,283 shares outstanding; the 14.09 million new shares represent roughly 12.6% dilution on the base offering and 14.5% dilution including the underwriter overallotment. The upsize from $350M to $500.2M reflects the strong demand generated by the LUCIDITY win and the analyst reception (Guggenheim $55 PT, Mizuho $30, H.C. Wainwright $20, Seeking Alpha Strong Buy upgrade). Amylyx also expanded its board of directors as part of the capital markets round.