09:10 AM EST, 01/10/2025 (MT Newswires) -- Amylyx Pharmaceuticals ( AMLX ) said Friday it priced an underwritten offering of about 17.1 million common shares at $3.50 per share.

The company also said it gave the underwriter a 30-day option to buy up to an additional 2.6 million shares at the offering price.

Gross proceeds are expected to be about $60 million, excluding any exercise of the underwriter's overallotment option, the company said. The net proceeds from the offering, which is expected to close on or about Jan. 13, are expected to be used for working capital and for general corporate purposes and to help advance preparations for commercialization and pipeline programs.

Shares of Amylyx were down 3.2% in recent premarket activity.