Amylyx Pharmaceuticals IPO: How to buy the stock? - Kalkine Media

January 06, 2022 09:40 AM PST | By Rupam Roy
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Highlights

  • Amylyx Pharmaceuticals filed for an IPO with the US Securities and Exchange Commission (SEC) on Jan 3.

  • The company will offer 8.75 million shares of its common stock in the IPO.
     
  • The expected IPO price range is US$18 to US$20 per share.

Amylyx Pharmaceuticals, Inc is gearing up for its initial public offering (IPO) in the US this year.

It filed a registration statement on Form S-1 related to the IPO with the US Securities and Exchange Commission (SEC) on Jan 3, 2022.

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Amylyx IPO price and total shares on offer

The Cambridge, Massachusetts-based company will offer all the shares of its common stock in the IPO, estimated at 8.75 million shares.

The IPO price is likely to be between US$18 and US$20 per share. At this price range, the company would raise around US$175 million.

It will also provide an additional 30-day option for the underwriters to purchase 1,312,500 shares at the offering price, less underwriting discounts, and commissions.

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Amylyx Pharmaceuticals, which develops novel therapies for neurodegenerative disorders, plans to trade its stocks in the Nasdaq Global Market (NASDAQ) under the ticker symbol AMLX.

The joint book-running managers for the offering are Goldman Sachs & Co. LLC, SVB Leerink, and Evercore ISI. The H.C. Wainwright & Co. would act as the lead manager for the offering.

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Amylyx Pharmaceuticals files for its IPO with the SEC

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Amylyx Pharmaceuticals, Inc’s financial highlights

For the nine months ended Sept 30, 2021, the revenue was US$285,000 compared to US$300,000 in the same period a year ago. It also reported a net loss of US$59.58 million for the period against a loss of US$33.68 million in the first nine months of 2020.

As of Sept 30, 2021, its cash, cash equivalents, and short-term investments totaled US$125.70 million, while its total assets were worth US$130.46 million.

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Bottomline

The number of shares or the terms of the IPO may change, subject to market conditions. The US stock market saw a record number of IPOs in 2021 – totaling around 1000 IPOs and raising about US$325 billion.


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