Amylyx Pharmaceuticals (AMLX) Q2 2026 earnings summary

Executive summary

• Approaching pivotal Phase III LUCIDITY topline data readout for avexitide in post-bariatric hypoglycemia (PBH), with topline results expected late August or early September 2026.

• NDA readiness and launch preparations for avexitide are underway, targeting commercialization in 2027 if approved.

• Expanded Access Program for avexitide initiated for eligible PBH patients.

• Disease state education campaign and field medical affairs team deployed to increase PBH awareness and support launch readiness.

• Four investigational therapies in the pipeline: avexitide (PBH), AMX0035 (Wolfram syndrome), AMX0114 (ALS), and AMX0318 (rare diseases).

Financial highlights

• Ended Q2 2026 with $250.8 million in cash, cash equivalents, and marketable securities, down from $279.8 million in Q1.

• Total operating expenses for Q2 2026 were $45.7 million, up 7% year-over-year; R&D expenses were $23.8 million (down from $27.2 million), while SG&A expenses rose to $21.9 million (from $15.6 million), including a one-time legal charge.

• Net loss for Q2 2026 was $43.4 million ($0.39/share), compared to $41.4 million ($0.46/share) in Q2 2025.

• Non-cash stock-based compensation expense was $8.3 million, up from $7.4 million in Q2 2025.

• Cash runway anticipated into 2028, supporting operations through key milestones including potential avexitide launch.

Outlook and guidance

• On track for LUCIDITY topline data readout late August/early September 2026; commercial launch of avexitide anticipated in 2027 if approved.

• NDA submission preparations underway for avexitide.

• IND-enabling studies for AMX0318 ongoing, with IND filing targeted for 2027.

• Cash position expected to fund operations through 2028, subject to assumptions.