Why Amylyx Pharmaceuticals Stock Is on Fire Today
Shares of the clinical-stage biotech Amylyx Pharmaceuticals (NASDAQ: AMLX) were up by a jaw-dropping 65% on heavy volume as of 10:02 a.m. ET Thursday morning. The drugmaker's shares are skyrocketing in response to a positive advisory committee vote for its amyotrophic lateral sclerosis (ALS) drug candidate AMX0035.
Specifically, a panel of experts assembled by the Food and Drug Administration (FDA) reportedly voted seven to two in favor of the available evidence supporting the drug's use as a treatment for ALS. ALS is a progressive neurodegenerative disorder that results in the loss of motor control.
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Source Fool.com
