Bronstein, Goertz & Grossman LLC

Bronstein, Goertz & Grossman LLC

NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) — Lawyer Announcement – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Amylyx Pharmaceuticals, Inc. (“Amylyx” or the “Company”) (NASDAQ: AMLX) and certain of its officers.

Category definition:

This lawsuit seeks to recover damages against the Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Amylyx securities between November 11, 2022 and November 8, 2023, inclusive (the “Class Period”). ). These investors are encouraged to join this cause by visiting the company’s website: bgandg.com/AMLX.

Case details:

Amylyx is a commercial-stage biotechnology company involved in the discovery and development of treatments for amyotrophic lateral sclerosis (“ALS”), also known as Lou Gehrig’s disease, and other neurodegenerative diseases. The Company’s products include, among others, AMX0035 (commercially referred to as “RELYVRIO” in the United States), a dual UPR-Bax apoptosis inhibitor consisting of sodium phenylbutyrate and taurorsodiol, for the treatment of amyotrophic lateral sclerosis in adults in the United States.

Following the September 2022 FDA approval of RELYVRIO for the treatment of amyotrophic lateral sclerosis in adults in the United States, the defendants continually promoted the drug’s commercial prospects and prescription rate.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and future prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants overstated RELYVRIO’s business prospects; (2) patients discontinued treatment with RELYVRIO after six months; (3) the rate at which new patients started treatment with RELYVRIO was decreasing; (4) Accordingly, Defendants also overstated RELYVRIO’s prescription rate; (5) Defendants attempted to hide past negative trends from investors and the market by preventing analysts from viewing RELYVRIO’s prescription data; and (6) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

What then?

A class action lawsuit has already been filed. If you would like to review a copy of the complaint, you may visit the firm’s website: bgandg.com/AMLX or you may contact Peretz Bronstein, Esq. Or our law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffer a loss on Amylyx, you have until April 9, 2024 to ask the court to appoint you as lead plaintiff. Your ability to participate in any recovery does not require that you serve as lead plaintiff.

There is no cost to you

We represent investors in class actions on a contingency fee basis. This means that we will ask the court to reimburse us for out-of-pocket expenses and attorney fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Goertz and Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud and shareholder derivative litigation. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Lawyer advertisement. Previous results do not guarantee similar results.

communication:

Bronstein, Goertz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

332-239-2660 | info@bgandg.com

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