10:50 AM EDT, 08/02/2024 (MT Newswires) -- Amylyx Pharmaceuticals ( AMLX ) said Friday it has received orphan drug designation from the European Commission for AMX0035 as a potential treatment for Wolfram syndrome.

The designation was granted following a positive opinion from the European Medicines Agency's Committee for Orphan Medicinal Products, the company said.

Amylyx said it expects to report this fall topline data from a phase 2 study evaluating AMX0035 in endocrine, metabolic and neurodegenerative aspects of Wolfram syndrome.

Shares of the company fell 3.6% in recent trading Friday.

Price: 2.00, Change: -0.07, Percent Change: -3.62