Amylyx shares soar as late-stage trial shows promising results for avexitide

Amylyx Pharmaceuticals’ stock jumped 21% in pre-market trading following positive Phase 3 trial results for its experimental drug avexitide, signalling potential breakthrough in post-bariatric hypoglycaemia treatment.

Amylyx Pharmaceuticals shares jumped in pre-market trading on Tuesday after the company said avexitide, its experimental GLP-1 receptor antagonist, delivered positive results in a late-stage study for post-bariatric hypoglycaemia. The stock climbed about 21% to $26.76, moving above its previous 52-week high of $24.60.

According to Amylyx, the Phase 3 LUCIDITY trial enrolled 78 participants in a 16-week, randomised, double-blind study comparing avexitide with placebo. The drug met its primary endpoint and all secondary endpoints, with patients receiving avexitide recording 55% fewer severe hypoglycaemic events than those on placebo. The company said the findings also held up across fingerstick testing and continuous glucose monitoring.

Avexitide is designed to block GLP-1 receptors rather than imitate the hormone, which sets it apart from widely used obesity drugs that activate the pathway. Amylyx has said the treatment already carries FDA Breakthrough Therapy Designation and Orphan Drug Designation, status that could help speed the review process if the company files for approval. The firm said early preparations for a new drug application are under way and that it is still aiming for a possible launch in 2027.

The latest results arrived earlier than the broader timetable Amylyx had previously given, which pointed to a third-quarter 2026 readout. The company’s move also drew support from Wall Street, with Mizuho lifting its price target on AMLX to $30 from $24 while keeping an Outperform rating. Amylyx has separately said financing secured in 2025 extends its cash runway into 2028, giving it room to push avexitide towards a potential commercial debut if regulators approve it.