Amylyx Pharmaceuticals (AMLX) is experiencing a decline in its stock price following the announcement of a public offering of approximately 17.14 million shares at $3.50 per share, aiming to raise around $60 million in gross proceeds. This offering, which includes an option for the underwriter to purchase an additional 2.57 million shares, represents a significant dilution for existing shareholders. The low offering price reflects current market challenges and has likely contributed to the downward pressure on the stock. The company plans to use the proceeds to support commercialization efforts and pipeline development, but the immediate market reaction has been negative.
The current price of Amylyx Pharmaceuticals is $3.63, down 3.85% from its previous close of $3.77 and 2.55% lower than its opening price of $3.72.