CAMBRIDGE, Mass.– Amylyx Pharmaceuticals, Inc. (Nasdaq: AMLX) has priced an underwritten public offering of 17.5 million shares of common stock at $10 per share, the company announced Tuesday. The offering is expected to raise $175 million in gross proceeds before expenses and underwriting fees.
Underwriters have been granted a 30-day option to purchase up to an additional 2.6 million shares at the offering price. The transaction is scheduled to close on or about September 11, subject to customary conditions.
Amylyx said proceeds from the sale will be used to support commercial readiness for Avexitide, the company’s lead therapeutic candidate, as well as for research and development, working capital and general corporate purposes.
Leerink Partners and Guggenheim Securities are serving as lead bookrunning managers for the offering, while H.C. Wainwright & Co. is acting as lead manager.
The shares are being issued under a shelf registration statement on Form S-3 that was declared effective by the U.S. Securities and Exchange Commission in March.
