Amylyx to Withdraw ALS Drug After Failed Study, Lay Off Over 70% of Staff

• Amylyx Pharmaceuticals will pull its ALS drug Relyvrio from the US and Canadian markets after it failed in a large study to help patients.

• Relyvrio was approved by the FDA in September 2022 despite concerns about limited data on its effectiveness.

• The drug's withdrawal leaves just 3 ALS treatments available to US patients, only 1 of which extends survival.

• Amylyx will lay off 70% of its over 350 employees as part of a major company restructuring.

• The company still plans to continue studying Relyvrio and another experimental drug for rare diseases like Wolfram syndrome.