SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Officers of Amylyx Pharmaceuticals, Inc.
NEW YORK, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of Amylyx Pharmaceuticals, Inc. (“Amylyx” or the “Company”) (NASDAQ: AMLX) concerning possible violations of federal securities laws.
On November 9, 2023, AMLX announced 3Q 2023 results, including 3Q GAAP earnings-per-share, missing consensus estimates by $0.12. On an earnings call the same day, management stated that the number of new patients starting treatment with its approved drug Relyvrio for amyotrophic lateral sclerosis (a/k/a Lou Gehrig’s Disease) was “steady” despite the increase in “discontinuations” of treatment after six months. An ISI analyst questioned the Company’s claim specifically noting that his math suggested otherwise and that Amylyx had blocked analysts from seeing Relyvrio prescription data in the summer of this year. The same analyst also stated that, “[k]nowing that [Amylyx’s] stock had underperformed in 2023 already, management could have communicated the discontinuations dynamic much earlier.”
Following this news, Amylyx’s stock price fell by $5.74 per share, or approximately 32% to close at $12.26 per share.
To obtain additional information, go to:
https://zlk.com/pslra-1/amylyx-lawsuit-submission-form?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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