AMLXAmylyx Pharmaceuticals, Inc.
Pharmaceutical Preparations
- Revenue
- $0
- 100% YoY
- Operating margin
- —
- EBITDA
- −$153M
- 51% YoY
- Market cap
- $3.2B
- Employees
- 160,000
- Net debt / EBITDA
- —
- AI in 10-K
- 2.8
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo85% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.8 per 10K words · 67th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$3.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$10M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $285K | $22M | $381M | $87M | $0 | 100% |
| Operating income | −$83M | −$201M | $39M | −$315M | −$153M | 51% |
| Net income | −$88M | −$198M | $49M | −$302M | −$145M | 52% |
| Operating cash flow | −$75M | −$180M | $12M | −$168M | −$123M | 26% |
| Capex | $353K | $3M | $1M | $157K | $138K | 12% |
| Stock-based comp | $3M | $22M | $37M | $33M | $28M | 16% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Oct 4, 2023 | Morningside Venture Investments Ltd | SC 13D/A | 3.4% | Passive |
| Aug 17, 2023 | Morningside Venture Investments Ltd | SC 13D/A | 9.3% | Passive |
| Apr 3, 2023 | Morningside Venture Investments Ltd | SC 13D/A | 12.9% | Passive |
| Sep 30, 2022 | Morningside Venture Investments Ltd | SC 13D/A | 18.6% | Passive |
| Jan 25, 2022 | Morningside Venture Investments Ltd | SC 13D | 21.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $152K · 2
- Open-market sells, 12 mo
- $10M · 31
- Net
- −$10M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 67 | — |
| FY2024 | — | — | 21 | — |
| FY2023 | — | — | 81 | — |