Amylyx Pharmaceuticals Stock Soars 48% After Avexitide Hits All Endpoints in Pivotal Phase 3 Trial

Amylyx Pharmaceuticals shares jumped 48.02%, up $10.29, to $31.72 at 10:06 a.m. ET Tuesday after avexitide hit all endpoints in a pivotal Phase 3 trial for post-bariatric hypoglycemia. The LUCIDITY study showed avexitide reduced Level 2 and Level 3 hypoglycemic events by 55% versus placebo, with a p-value of 0.000003, and also met all predetermined secondary endpoints. The rally extended a move that began Monday night after the company confirmed it would release topline results Tuesday morning ahead of an 8 a.m. ET call. Pre-market trading pushed the stock above its prior 52-week high.