Shares of Amylyx Pharmaceuticals rose after the company said it would disclose topline results from a Phase 3 trial evaluating a drug to treat a type of hypoglycemia.
The stock gained 15% to $24.58 in late trading on Monday. Shares were up 77% year to date at market close.
Amylyx said it would announce the results on Tuesday, with plans to host a call with its management team at 8 a.m. EDT.
The trial evaluated Avexitide in patients with post-bariatric hypoglycemia, a condition where an exaggerated GLP-1 response leads to excessive insulin secretion, resulting in recurrent hypoglycemic events.
The Food and Drug Administration has granted avexitide breakthrough therapy designation for both PBH and congenital hyperinsulinism, and orphan drug designation for the treatment of hyperinsulinemic hypoglycemia, which includes PBH and congenital HI.