Amylyx Pharmaceuticals (NASDAQ:AMLX) reported a significantly narrowed net loss for 2025 on Tuesday, as the company aggressively cut costs following its retreat from the ALS market and redirected capital toward its metabolic disease pipeline.
The Cambridge, Massachusetts-based biotech reported a full-year net loss of $144.7 million, or $1.53 per share, a dramatic improvement from the $301.7 million loss ($4.43 per share) recorded in 2024.
The reduction in losses was driven by a company-wide restructuring and a strategic pivot away from AMX0035 for ALS, which led to a substantial drop in both research and administrative overhead.
Selling, General, and Administrative (SG&A) expenses for the year fell to $62.9 million, down from $114.3 million in 2024, as the company dismantled the commercial infrastructure previously required for its neurodegenerative programs.
Research and Development (R&D) expenses also decreased to $90.4 million, though the decline was partially offset by ramped-up spending on the clinical development of avexitide.
Avexitide, a GLP-1 receptor antagonist, is now the company’s lead asset, currently being evaluated for the treatment of post-bariatric hypoglycemia (PBH).