With a 150% Rally and Big 2026 Catalysts Ahead, Is Amylyx Stock Getting a Second Chance?
Key Points
New York City-based Commodore Capital bought nearly 4.1 million shares, increasing portfolio value by an estimated $55 million.
The position represents 2.7% of 13F reportable assets under management (AUM).
The move also marks a new holding for Commodore, which did not report holding AMLX shares in the prior period.
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On November 14, New York City-based Commodore Capital disclosed a new position in Amylyx Pharmaceuticals (NASDAQ:AMLX), acquiring nearly 4.1 million shares valued at approximately $55 million, according to a recent SEC filing.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated November 14, Commodore Capital LP disclosed a new stake in Amylyx Pharmaceuticals (NASDAQ:AMLX). The fund reported ownership of 4.1 million shares, equating to $55.4 million and 2.7% of its $2 billion in reportable equity holdings after the third quarter.
What Else to Know
Top holdings after the filing:
- NASDAQ:MRUS: $331.9 million (16.2% of AUM)
- NASDAQ:NUVL: $121.1 million (5.9% of AUM)
- NASDAQ:XENE: $108.4 million (5.3% of AUM)
- NASDAQ:COGT: $104.1 million (5.1% of AUM)
- NASDAQ:ELVN: $96.1 million (4.7% of AUM)
As of November 14, shares of Amylyx Pharmaceuticals were priced at $13.72, up 157% over the past year and well outperforming the S&P 500, which is up 13% in the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Wednesday) | $13.72 |
| Market Capitalization | $1.5 billion |
| Revenue (TTM) | ($665,000) |
| Net Income (TTM) | ($149.3 million) |
Company Snapshot
- Amylyx Pharmaceuticals develops therapeutics for neurodegenerative diseases, with a focus on amyotrophic lateral sclerosis (ALS); lead product is AMX0035, a dual UPR-Bax apoptosis inhibitor.
- The company operates a clinical-stage biopharmaceutical model, focused on the development of novel drug candidates.
- It targets patients with ALS and other neurodegenerative conditions, addressing unmet needs in the healthcare and biotechnology markets.
Amylyx Pharmaceuticals is a clinical-stage biotechnology company specializing in innovative therapies for neurodegenerative diseases such as ALS. The company's strategy centers on advancing its proprietary pipeline, led by AMX0035, to address significant gaps in current treatment options. With a focused approach and expertise in neurology, Amylyx aims to deliver differentiated therapies to underserved patient populations.
Foolish Take
For long-term investors, a new stake in a discounted biotech only matters if the fundamentals suggest a path to value creation—and Amylyx’s latest update gives the market something firmer to work with. The company has cut its quarterly net loss by more than half year over year, extended its cash runway into 2028, and continues to advance two late-stage programs with meaningful upcoming catalysts. Those improving fundamentals help explain why a fund like Commodore is planting a sizable new flag in the name after a brutal drawdown.
Amylyx ended the third quarter with $344 million in cash, boosted by a $191 million public offering, strengthening its balance sheet as it moves toward multiple key data readouts. Management reaffirmed expectations for Phase 3 LUCIDITY topline results in Q3 2026 and a potential 2027 launch for avexitide, if approved. Meanwhile, early data for AMX0114 in ALS will be presented in December.
Ultimately, Amylyx remains unprofitable but is entering a catalyst-heavy stretch with enough capital to reach it—an attractive setup for investors willing to stomach volatility.
Glossary
13F reportable assets under management (AUM): The total value of U.S. equity securities a fund must disclose in quarterly SEC filings.
Position: The amount of a specific security or investment held by an individual or institutional investor.
Stake: The ownership interest or shareholding an investor has in a company.
Clinical-stage: Refers to companies developing drugs that are currently being tested in human clinical trials but not yet approved.
Biopharmaceutical: A company that develops drugs using biological sources or processes, often focusing on innovative therapies.
Neurodegenerative diseases: Disorders characterized by progressive loss of nerve cell function, such as ALS, Alzheimer's, or Parkinson's.
ALS (Amyotrophic Lateral Sclerosis): A progressive neurodegenerative disease affecting nerve cells in the brain and spinal cord.
Pipeline: The portfolio of drug candidates a biopharmaceutical company is developing, from early research to clinical trials.
AMX0035: Amylyx Pharmaceuticals' lead drug candidate, designed to treat neurodegenerative diseases like ALS.
UPR-Bax apoptosis inhibitor: A drug mechanism targeting cellular stress and programmed cell death pathways to protect nerve cells.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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