ALS Biotech Firm Amylyx Pharmaceuticals Launches Nasdaq IPO
Clinical-stage biopharmaceutical company Amylyx Pharmaceuticals is looking to go public on the Nasdaq Global Select Market. The firm announced today the launch of its initial public offering of 8.75 million common shares.
The biotech firm is targeting the share price between US$18.00 and US$20.00 per share, which puts target proceeds from the offering at US$175 million on the high end of the range.
The shares are expected to trade on the Nasdaq big board under the symbol “AMLX”. The underwriters also have a 30-day over-allotment option to purchase additional 1.3 million shares.
The pharmaceutical firm has two drug candidates in its pipeline currently in clinical trials to treat amyotrophic lateral sclerosis (ALS) and one for Alzheimer’s disease.
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