Mizuho Names Top Small & Midcap Biotech Stock

Amylyx (AMLX) reported a 55% reduction in severe post-bariatric hypoglycemia events in its Phase 3 LUCIDITY trial of avexitide. The company plans to submit avexitide for FDA approval by the end of 2026. AMLX also filed an offering to sell 14.09M shares at $35.50, aiming to raise ~$471.7M for avexitide's U.S. launch, manufacturing, and R&D.

Iovance Biotherapeutics (IOVA) surged 12% to a 52-week high after reporting Q2 revenue of $99.3M and a UBS price target raise. Amylyx Pharmaceuticals (AMLX) rose 2% on positive Phase 3 trial results and a $500M offering. ConocoPhillips (COP) gained 3% after strong Q2 earnings and a Morgan Stanley price target increase.

Amylyx Pharmaceuticals priced a $500 million upsized public offering of common stock. The company increased the offering size from the initially announced $400 million. The offering is expected to close on or about May 24, 2023, subject to customary closing conditions, according to the company.

Amylyx Pharmaceuticals' shares rose 63.8% after positive phase III study results for avexitide, a treatment for post-bariatric hypoglycemia. The study met primary and secondary endpoints, with a 55% reduction in hypoglycemic events. The company plans to file for FDA approval by the end of 2026. Avexitide has Breakthrough Therapy designation and, if approved, could launch commercially in 2027, providing Amylyx with its first marketed drug.

Several biotech stocks hit 52-week highs on August 18, 2026. Amylyx (AMLX) surged 63% to $35.39 after positive Phase 3 data and a $350M share offering. Vogenx (VOGX) rose 25% to $20.01 post-IPO. AtriCure (ATRC) reached $46.33 with 12.8% revenue growth. Charles River (CRL) hit $289.60 despite a 2.7% revenue dip. Orchestra BioMed (OBIO) climbed 19% to $5.77 with FDA breakthrough designations.

Amylyx Pharmaceuticals (AMLX) shares surged 63.84% to $35.11 after its Avexitide drug candidate showed a 55% reduction in low-blood-sugar episodes in phase 3 trials. The company plans to submit an NDA by year-end and aims for 2027 commercialization. Three firms raised price targets, with HC Wainwright setting a $55 target. Hedge funds increased holdings by 16.45% QoQ.