Amylyx Widens Quarterly Loss as Commercial Spending Rises
The biotechnology company reported a net loss of $43.4 million for the second quarter of 2026.
Amylyx Pharmaceuticals (AMLX) reported a widened net loss for the second quarter of 2026, reflecting increased investments in commercial strategy and legal costs.
The biotechnology company saw its net loss grow to $43.4 million, or $0.39 a share, compared to a loss of $41.4 million, or $0.46 a share, in the same period last year.
Operating expenses shifted as the company reallocated resources across its pipeline. Selling, general and administrative expenses rose to $21.9 million from $15.6 million in the prior-year quarter due to higher legal expenses and commercial strategic initiatives. Research and development expenses decreased to $23.8 million from $27.2 million in the second quarter of 2025, as lower spending on AMX0035 for progressive supranuclear palsy offset higher development costs for avexitide.
Clinical progress continued for the company's lead candidates. The Phase 3 LUCIDITY trial of avexitide completed the final study visit for the last participant during the quarter. The company now anticipates topline data in late August or early September 2026. Additionally, Amylyx initiated a U.S. Expanded Access Program for avexitide in May 2026 for adults with PBH following RYGB surgery.
Other pipeline developments included the Phase 1 LUMINA trial of AMX0114, which moved into enrolling Cohort 3 as of the second quarter. In July 2026, the company entered a second research collaboration with Gubra A/S to identify candidates for a rare endocrine disease.
Cash, cash equivalents, and short-term investments totaled $250.8 million at June 30, 2026, down from $279.8 million at the end of the first quarter.