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AMLX.US
id: 1099
Amylyx (AMLX) Overstating Treatment Prospects Case
S.D. New York
Court1:24-cv-00988
Case number11/11/2022
Class period Start11/08/2023
Class period End04/09/2024
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